KARACHI: The State Life Insurance Corpora­t­ion of Pakistan (SLIC) and Fauji Fertiliser Company (FFC) on Wednesday launched an insurance partnership to strengthen the agriculture sector.

The organisations introduced a ground-breaking microinsurance program­­me to provide essential fin­ancial protection to farmers while nurturing susta­inable agriculture growth.

At the event, Commerce Minister Jam Kamal Khan said this collaboration between SLIC and FFC represents a bold step toward securing the country’s agricultural future.

“It is not just about fina­ncial coverage; it’s about up­­lifting our farming communities and building resi­lience,” the minister remarked.

This initiative is set to create a ripple effect acr­o­ss the agricultural sector. This innovative partnership leverages FFC’s dir­e­ct-to-farmer distribution network “Sona Centres” and SLIC’s expertise in ins­­urance solutions to deli­ver accessible and impactful financial coverage for far­mers and their families.

By integrating micro insurance with fertiliser purchases, the initiative simplifies the process, ensuring farmers can benefit from financial security without the burden of additional formalities, according to a press release.

“Through this collaboration, Sona Centre farmers will automatically be enrolled in a one-year accidental death and disability insurance protection with coverage of up to Rs1 million at no additional cost,” stated SLIC chief executive Shoaib Javed Hussain.

This initiative ensures immediate financial security for farmers and their families, making agri insurance more accessible at the grassroots level and bringing us closer to strengthening agricultural resilience and empowering communities, he said.

FFC Managing Director and CEO Jahangir Piracha said, “This initiative is a testament to our dedication to improving their quality of life and ensuring financial stability in times of unforeseen challenges.

By integrating insuran­ce with our Sona Centres, we aim to deliver accessible and impactful solutions to the people who matter most — our farmers.“

Published in Dawn, December 19th, 2024