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Farmers have been deprived of agricultural insurance for two months

As the government did not pay two and a half billion rupees for the subsidy on agricultural insurance fees, the insurance companies stopped the sale of insurance policies and the payment of claims.
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Despite the government's plans to increase production, productivity and commercialization of the agricultural sector, farmers have not been able to get agricultural insurance for the last two months. Insurance companies have stopped selling agricultural insurance since last March when the government did not pay for the subsidy on agricultural insurance fees. Since then, neither the farmers have been able to get agricultural insurance nor the payment of insurance claims.

Farmers have been deprived of agricultural insurance for two months

Insurance companies claim that even though the sale of insurance policies has stopped, the payments have not stopped. "The company issued a statement and has not sold new agricultural insurance policies since March 1," said the chief executive officer of an insurance company. The official said that the companies have stopped selling insurance policies and paying claims due to non-payment of funds from the government for almost a year.

Panchkaji Shrestha, president of Farmers Group Federation of Nepal, said that they were very upset because they could not get agricultural insurance. He complains that he has not received the old claim payment along with the new insurance. "Now it is the season of heavy rains, there is a high risk of fire, barn roof collapse, crops and livestock being damaged," he said, "We are very unfair because we cannot get insurance at this time."

Farmers are discouraged because they cannot get insurance. "Previously, the companies have been paying with their own money, now they say we can't," he said. The insurance companies have not paid for the new insurance but also for the old insurance, said Ganeshchandra Timilsina, president of the Nepal Kisan Federation. "Not being able to get new insurance is getting worse, many farmers have not even paid for old insurance including Lumpy," he said, "This behavior of the insurance company and the government has eroded the confidence of farmers."

The government has a policy of subsidizing agricultural insurance fees with the aim of encouraging farmers to increase agricultural production and productivity. According to this, currently farmers get 80 percent subsidy of agricultural insurance fee. Since last year, the government has not given the subsidy amount. This is the reason, according to Nepal Insurance Authority, the government has to pay about 2.17 billion rupees under the agricultural crop and livestock insurance program.

The government seems to be oblivious to the fact that farmers are deprived of insurance and claims are not paid. On May 1st, in the policy and program of the public government, it is mentioned that the fiscal year 081/82 decade will be declared as the 'Investment decade in agriculture' to increase the investment of government, private, cooperative and development partners. But, why are the farmers not getting the facilities now? There is no mention in the policy and program as to why the government has withheld payment to them. Instead, there is a list of programs that have been announced in the past but have not been implemented in the policy and program.

It is stated in the policy and program that a clear roadmap for production, productivity growth, modernization, commercialization and marketing of the agricultural sector will be implemented The regulatory body Nepal Insurance Authority is also aware of the suspension. After the release of a statement by the Nepal Insurance Association regarding the suspension of the sale of insurance policies by the companies, the authority said that it has drawn its attention to it. Since then neither the authority has taken any initiative to start the sale of insurance nor the companies themselves have started the sale.

"The companies have not sold agricultural insurance for almost two months," said Rajuraman Paudel, executive director of the Nepal Insurance Authority, "we are requesting the government for quick payment." However, there is no possibility that the money will come soon.'' Ashok Khadka, the general secretary of the Nepal Insurance Association, says that the companies are not in a position to sell insurance until the money comes from the government. "We have stopped the payment of claims because we don't have the capacity," he added, "now the companies are in a very risky situation."

Finance Ministry spokesman Uttar Kumar Khatri said that the process has progressed regarding the subsidy on agricultural insurance fee and the payment of interest subsidy on subsidized loans. "The process for the payment of these titles has already started," he added, "Now the money will be paid soon." The

companies issued a statement on May 10 and warned that they would stop the payment of claims if the funds for the subsidy did not come immediately. "For the past 10 years, insurance companies have been issuing agricultural insurance policies in accordance with the guidelines of the regulatory body Nepal Insurance Authority, and paying claims for damages in case of damage, but the subsidy set by the government is generally received only after 1 year," the statement said. About two and a half billion is left to be paid to the insurance companies. Insurance companies are at high risk because they have not received the above subsidy amount despite repeated requests to the Ministry of Agriculture and Livestock, Department of Agriculture and Nepal Insurance Authority.

The authority said that it has drawn serious attention to the announcement on agricultural insurance issued by the Nepal Insurance Association on 081 Baisakh 12. "The government of Nepal is coordinating and taking initiatives with the Ministry of Agriculture and Livestock Development to make the agriculture and livestock insurance business reliable and trustworthy and to provide the pending grant money from the Nepal government as soon as possible," the directive of the authority said, "while the funds will be received in the near future It has been requested to immediately withdraw the statement and start the agriculture and livestock insurance business and claim payment as per the instructions.'

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