PM launches insurance scheme for farmers
By Muhammad Ali Malik

ISLAMABAD—Prime Minister Shaukat Aziz Thursday approved launch of crop insurance scheme saying it will protect the interests of the farmers and boost country’s agriculture sector.
Chairing a meeting here at the PM House, the Prime Ministerapproved in principal the proposals by NICL to launch various insurance schemes to facilitate farmers and low income grouppeople.
The Prime Minister said the scheme being launched by the National Insurance Company Limited (NICL) in collaboration with various financial institutions offers the borrowers of agriculture loans, an excellent initiative and will bring about a positive change in their lives, enabling them to secure better prospects of income.
Prime Minister Shaukat Aziz appreciated the proposal as thelaunch of micro-insurance by NICL for low income borrowers in collaboration with the micro-finance banks and said it will coverloss of life, accident, health and property.
It will also secure interests of low income group so that they are not affected due to any unforeseen happening. The PrimeMinister said that the scheme will take care of the risk exposure and economic distress of low income group in a very comprehensiveway.
The meeting also approved NICL’s insurance scheme for the inbound international business travellers which cover all risk ata very low premium.
The Prime Minister said the initiative will promote businessactivities in the country, will help build confidence of the foreign businessmen and promote foreign investments in Pakistan.
The Prime Minister underscored the need for a bettermarketing and distribution strategy to guarantee success of the schemes.
He said that government was well aware of the need of thelow income group people and would take all possible measures to facilitate them so that they can live a better life and improvetheir standard of living. Earlier in his presentation, the chairman NICL apprised themeeting that all the three insurance schemes have been prepared under the directives of the Prime Minister and it would help build confidence of low income group people.
He further informed the meeting that the vision behindoffering crop loans to the borrowers of agriculture loans is to protect the interest of the farmers to the extent of its exposure to any natural calamity.
The meeting was attended by Minister for Commerce HumayunAkhtar Khan, Advisor to PM on Finance Dr. Salman Shah and other senior officials.