Islamabad, Dec 19: In a move to enhance the agriculture sector, the State Life Insurance Corporation of Pakistan (SLIC) and Fauji Fertilizer Company (FFC) have launched a new microinsurance program aimed at supporting farmers.
The initiative, introduced on Wednesday, is a joint effort to provide crucial financial protection to farmers while promoting sustainable agricultural development.
Commerce Minister Jam Kamal Khan highlighted that this collaboration between SLIC and FFC marks a significant step towards securing the future of Pakistan’s agriculture. “It’s not just about financial coverage; it’s about empowering our farming communities and building resilience,” he remarked.
Farmers and their families will benefit from a new partnership that combines Fauji Fertilizer Company’s “Sona Centres” distribution network with SLIC’s expertise in insurance. This collaboration aims to offer accessible and effective financial coverage by integrating microinsurance with fertilizer purchases, simplifying the process for farmers.
This initiative eliminates the need for additional formalities, ensuring farmers can easily access financial protection. The program aims to provide immediate financial security for farmers and their families, making agricultural insurance more accessible at the grassroots level. It is a significant step toward strengthening agricultural resilience and empowering farming communities.
SLIC CEO Shoaib Javed Hussain stated that through this partnership, farmers using Sona Centres will automatically be enrolled in a one-year accidental death and disability insurance plan with coverage up to Rs1 million at no extra cost.
