KUALA LUMPUR, Feb 28 — The government will be launching the Padi Crop Takaful Scheme soon to enable planters affected by factors beyond their control, to receive compensation to continue farming without incurring significant financial burden.
Deputy Minister of Agriculture and Food Security Chan Foong Hin said the scheme is designed to address issues related to the loss of capital and income caused by factors such as floods, droughts, storms, plant diseases and pest attacks.
“This scheme improves the existing Padi Crop Disaster Fund (TBTP) method with a higher amount of compensation of up to RM3,000 per hectare per season compared to up to RM1,800 per hectare per season through the TBTP method,” he said in Dewan Rakyat today.
He was replying to a supplementary question by Datuk Mohd Isam Mohd Isa (BN-Tampin) who wanted to know the latest developments regarding the proposed Agrofood Takaful Insurance Scheme previously introduced by the government which made the rice and padi sector a pilot project.
Like TBTP, the Padi Crop Takaful Scheme is open to all farmers registered with the Regional Farmers’ Organisation (PPK), thereby simplifying the registration process of the scheme without having to go through a complicated process, he said.
He said through the scheme, the claim approval process will be more efficient and reduce the government’s financial burden taking into account the extreme and uncertain global weather conditions.
— Bernama
