KARACHI: The State Life Insurance Corporation of Pakistan (SLIC) and Fauji Fertiliser Company (FFC) on Wednesday joined hands to introduce a ground-breaking micro-insurance program, aiming at to provide essential financial protection to Pakistan’s farmers while nurturing sustainable growth in the agricultural sector.
The event was attended by dignitaries including Lt Gen Anwar Ali Hyder (retd), Chairman of the Board of FFC, Shoaib Javed Hussain, CEO of SLIC; and Jahangir Piracha, Managing Director and CEO of FFC, along with senior representatives from both organisations.
“Through this collaboration, Sona Centre farmers will automatically be enrolled to a one-year accidental death and disability insurance protection with coverage of up to Rs 1 million at no additional cost,” stated Shoaib Javed Hussain, CEO of SLIC. “Facilitated by SLIC, 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.”
Speaking at the ceremony, Jahangir Piracha, MD and CEO of FFC, emphasised the company’s commitment to Pakistan’s farming community, “At FFC, we recognise that our farmers are the backbone of the nation’s economy. 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.”
The SLIC and FFC micro-insurance initiative is set to create a ripple effect across Pakistan’s 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 fertilizer purchases, the initiative simplifies the process, ensuring farmers can benefit from financial security without the burden of additional formalities.
Copyright Business Recorder, 2024
Comments
Comments are closed for this article.