Mixed farming pay dividends, reduce income variation
Imperfect insurance system negatively impact farms
Islamabad: (Nov 09) Farmers deserve right production decisions to reduce
risks associated with their occupation, a business leader said Wednesday.
Production risk is inherent in agriculture due to multiple factors
including dependence on weather that can be minimised through proper
intervention, Mian Shahid said.
Workshops, seminars, advertisement, distant education, and road shows can
enhance awareness among the rural population majority of which is directly
or indirectly associated with the agriculture, he said in a statement
issued here today.
Mian Shahid said that livestock play an important role in risk control; it
improves household welfare through reduction in income variability.
Mixed farming enable rural families to decrease exposure to risk through
diversification, he added.
Grain prices are not advancing as fast as that of milk and meat which is
an added incentive, he said adding that sale of milk, yogurt, cheese,
butter oil and lassi promises daily flow of income.
Mian Shahid, who is CEO of Saudi Pak Insurance Company, said that
incomplete or imperfect insurance markets always have a negative impact on
the farm management.
He said that concept of incomplete insurance has been expanding while
optimal risk sharing is yet to make inroads in the Pakistani market which
is necessary to support farming community.
Agriculture accounts for about one-fourth of the gross domestic product,
earns about 60 per cent of export revenues in primary and processed forms,
and provides employment for half of the increasing labour force therefore
it merits proper attention, he said.
--
Ali Asad,
BDM,
0321-2047618
--
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