A sound insurance system, which is currently absent, can strengthen and increase yield in the agriculture sector of Pakistan and address the menace of food insecurity here, an expert at the forum said.
Government as well as private sector should come forward to provide protection to life, health and assets of rural people, said Mian Akram Shahid. Farmers could be saved from impact of diseases, viruses, drought, flooding, insects, natural disasters, weather wrath, rains and other risks at a forum organised by the Pakistan Economy Watch. He said agricultural yield could go up by 25 to 30% easily if grower try to improve methods, which are also covered. Similarly, Pakistan can have a better livestock yield as well if proper steps are taken as done in so many other countries.
Insurance companies need to be encouraged to offer wide range of schemes including crop yield insurance and crop revenue insurance. The agri insurance alone was not enough to solve all the problems of the farmer, it is also important to provide farmers with good agricultural practices and services that allow them to improve productivity. He advised farmers to try to produce more than one product to avoid dependence on the production and price of one product only. Diversification is a good way to avoid some risks, he maintained.