I got the opportunity to attend the training on Crop and Livestock Insurance Schemes organized by the National Institute of Banking and Finance (NIBAF) in Lahore. It was not just a certification but the starting point of my journey as trainer. The program introduced me to a field where agriculture, insurance and financial inclusion go hand in hand.
After this certification, I trained hundreds of field officers of NRSP Microfinance Bank Ltd across the country on insurance, its products and its practical applications. It was not just about delivering lectures, but to enable the officers to guide them in securing the lives and hard-earned income of farmers.
Moreover, I also had the privilege of working as the focal person on insurance with the State Bank of Pakistan. During this assignment, I got the opportunity to understand how the State Bank adapts insurance products to national priorities, how to make data management and reporting effectively. This experience proved to be a valuable asset for me.
State Bank of Pakistan’s Crop Insurance Policy
The Crop Loan Insurance Scheme (CLIS) was introduced to protect farmers from natural disasters such as floods, droughts, cyclones, hailstorms and insect attacks. Pakistan’s economy is based on agriculture, but this sector is most affected by climate change and natural disasters. Small farmers depend on a single crop and in case of loss, they are trapped in a cycle of debt and poverty.
Under the State Bank’s policy, farmers who take loans from banks must have their crops insured complementary. This not only protects the farmers but also protects the banks’ loans.
Major crops covered under this scheme:
- Wheat
- Cotton
- Paddy (rice)
- Maize
- Sugarcane
State Bank’s Livestock Insurance Policy
Similarly, the Livestock Insurance Scheme protects the most valuable asset of farmers and rural households—livestock. Millions of families in Pakistan depend on livestock for their livelihood, milk, meat and financial stability. But in case of illness or accident, the farmer has to suffer a huge loss due to the loss of the animal.
As per the policy of the State Bank, insurance of livestock taken on loan from banks is mandatory so that the farmer gets complete financial protection if the animal falls victim to illness, accident or death.
Important animals covered under this scheme:
- Cow
- Buffalo
- Bull
Both these schemes are the backbone of Pakistan’s agriculture sector. Farmers are assured that their hard work and capital will not go to waste, while financial institutions are facilitated to provide loans to the agriculture sector with more confidence. This not only strengthens the rural economy but also promotes the process of financial inclusion.
For me, this journey started in a classroom, but over time it became my professional introduction. This certification gave me knowledge and vision.
Insurance may seem like a technical subject, but in reality it is about securing the dreams and future of farmers. And I will always be proud to be a part of this mission.
