The Punjab government has launched crop insurance scheme (Takaful) to protect the income of farmers against unfavorable circumstances. In this regard, from Kharif 2018 first phase will be launched from Sheikupura, Sahiwal, Loadhran and Rahim Yar Khan. Under this scheme, 100% subsidy on Insurance Premium for land owners of up to 5 acres while 50% subsidy on Insurance Premium for land owners from 5 Acre to 25 Acres will be borne by the government.
This scheme will be applicable during its first phase on cotton & Rice fields. In the second phase Insurance (Takaful) will be applicable on more crops including Sugarcane, Maize, Wheat, Orchards and Vegetables, said a spokesman of the provincial agriculture department here on Wednesday.
Under this scheme, compensation will be done in case of natural calamity or low yield. Spokesman further disclosed that to ensure transparency, Government has also introduced online system. Agricultural production and farm incomes in Pakistan are frequently affected by natural disasters such as droughts, floods, cyclones, storms, landslides and earthquakes. This scheme will give protection economically to farming community.
A farmer highlighting the importance of crop insurance said: "We live in uncertain conditions as we are not sure about our crops whether or not they will benefit us; if we get insured, it will help us to shift our loss/damage when our insurance claims are paid." To get more information about Crop Insurance (Takaful) scheme, farmers may contact with Agriculture Helpline number 0800-15000 & 0800-29000, the spokesman concluded.