Insurance System can boost Agri Sector

A sound insurance system can strengthen the agriculture sector of country and address the menace of food insecurity in Pakistan, an expert said.

Government as well as private sector should take steps to provide protection to life, health and assets of rural people, said Mian Akram Shahid. Farmers could be saved from impact of disease, viruses, drought, flood, insects, natural disasters, weather, rains and other risks, he said while speaking at a forum organised by the Pakistan Economy Watch.

Shahid said that agricultural yields could go up by 25-30 per cent if cultivators try improved methods which are also covered. Similarly, Pakistan can have a better livestock yields if proper steps are taken.

Insurance companies need to be encouraged to offer wide range of schemes including crop yield insurance and crop revenue insurance, he said.