Ministry of agriculture Decided to send the first phase of agricultural insurance amount

Kathmandu : Closing the agriculture insurance from the chaitra 1, in attention that the impact on farmers government decided to provide 46 billion insurance subsidy through the insurance companies. The Agriculture and Livestock Insurance Fund Management Committee meeting held on last Wednesday decided to pay 464.1 million Rupees to the companies from the Ministry of Agriculture, informed that by information officer Pradipchandra Bhattarai. It has been informed that the ministry is going to give this amount to the companies for the farmers to come with complaints and the damage caused to the farmers due to claims and to resume the issuance of agricultural and livestock insurance. If the government will not paid full amount of insurance subsidies, the insurance companies will not issue agricultural insurance policies

Umbrella Association, Chief Executive Officer of Sagarmatha Lumbini Insurance company’s Chairman of Nonlife Insurance Company Chunky Chhetri has taken a stand that the agricultural insurance, which has been closed since 1st of Chaitra, will not be resumed for the time being until the full amount is received.

The Ministry of Agriculture is going to give the first amount to the companies to resume the closed agricultural insurance, which is being discussed with the Ministry of Agriculture in order to fully repay the amount. Bhattarai says.The government has yet to pay the insurance companies 2.12 billion 32 million 65 thousand rupees for livestock and agriculture in account of subsidy 14.47 million 71 thousand Rupees for agriculture. Said that amount is due to from last 3 years.

The Ministry of Agriculture had previously closed the Agricultural ‘Bima Yojana’ Insurance Planning saying that the insurance companies were facing problems due to the delay in the allocation of insurance funds. Chairman of the Insurance Association, Chhetri says that despite the closure of agricultural insurance, the claims of the farmers have not stopped. Chhetry expressed on his opinion that we aren’t as responsible less as the government because we are under the responsibility of the insured, he said.