NA body directs better crop insurance

ISLAMABAD: Expressing serious concerns over ineffective crop insurance schemes offered to famers in the country, the National Assembly Standing Committee on Commerce and Textile on Thursday asked the commerce ministry and National Insurance Company Limited (NICL) to come up with better packages.

The committee, led by its chairman MNA Naveed Qamar, was reviewing crop insurance schemes to suggest measures for helping farmers.

The committee was informed that although standing wheat crop had been damaged due to hailstorms in April, sufficient stocks are available from the previous harvest for consumption in the country.

Mr Qamar opined that wheat should be deregulated and grading of the crop is necessary. He stressed the need to change the policy regarding sugarcane, adding that it is high time to invest in other crops.

For date crop, the standing committee asked the ministry to resolve the issue of running finance and remittance by taking farmers into confidence. The committee also recommended that more crops covered by Zarai Taraqiati Bank Limited.

Adviser on Commerce to Prime Minister Razak Dawood briefed the committee on Strategic Trade Policy Framework (STPF) 2019-24. He said the policy objectives of STPF are to make the exports a driver of economic growth, transition from factor-driven to efficiency-driven exports in the short to medium term.

He said the policy will also ensure innovation driven exports in the long-term, improve competitiveness and efficiency of industry especially export-oriented sector by reducing input costs and increasing productivity, attract efficiency-seeking investment into export-oriented production.

Mr Dawood said the proposed policy will reduce relative “disincentive” for exporting activities by reducing structural anomalies, and to improve the trade ecosystem by increasing institutional efficiencies and reducing cost of doing business.

The meeting was attended by parliamentarians including Ali Khan Jadoon, Muhammad Yaqoob Sheikh, Muhammad Asim Nazir, Ahmed Hussain Dehar, Mian Muhammad Shafiq, Wajhia Akram, Sajida Begum, Tahira Aurangzeb, Shaista Pervaiz and Syed Javed Ali Shah Jillani.