ISLAMABAD: The United Business Group (UBG) of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Saturday said better insurance coverage is imperative for the development of agricultural economy which will also reduce uncertainty among farming communities.
Well-placed and sound agri insurance system can strengthen the agriculture sector of country and successfully address the menace of food insecurity in Pakistan, said Secretary General of UBG Zubair Tufail in a statement here.
He said that farmers could be saved from negative impact of disease, drought, flood, pests, natural disasters, weather, rains and other risks by offering them a proper insurance cover.
Zubair Tufail said that agricultural yields could go up significantly and livestock position can improve if cultivators try improved methods which are also covered.
He said that insurance companies need to be encouraged to offer wide range of products to the rural population that feel unsafe due to frequent floods, calamities and pest attacks.
He called for a mechanism to provide training to people in the area of agricultural risk management and to equip them to identify opportunities and develop products that help mitigate risks.
There is a need to build the capacity of the institutions by providing the knowledge and skills required to design, price and implement agricultural insurance programmes, he said adding that insurance cannot obliterate risk but it spreads risk.
Agri insurance alone was not enough to solve the problems of growers. It is also important to provide farmers with good agricultural practices and services that allow them to improve productivity.
