Monday, August 15, 2022

Sindh govt plans insurance of crops from commercial banks, companies

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KARACHI: The Sindh government has planned insurance of seasonal, cash and oilseed crops from commercial banks and private companies to prevent farmers from bearing financial losses in an emergency situation, ARY News reported on Saturday.

However, the Sindh government has stepped back from its previous insurance plan by utilising its own funds and decided to get insurance of the crops from commercial banks and insurance companies.

sindh insurance crops commercial banks companies

Sindh agriculture minister Ismail Rahu said in a statement that a suggestion was tabled for insurance of seasonal, cash and edible oil crops in the province. In this connection, the provincial government contacted the central finance and commercial banks.

He said that farmers will get relief from the insurance plan in case of facing financial losses due to any emergency situation. Ismail Rahu said that the provincial government withdrew its insurance plan by using its own resources due to shortage of funds.

The minister expressed hope to get better results from the insurance for providing relief to the farmers.

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