Islamabad December 18, 2024 – In a landmark move to transform Pakistan’s agricultural landscape, the State Life Insurance Corporation of Pakistan (SLIC) and Fauji Fertilizer Company (FFC) have joined hands to introduce a ground-breaking microinsurance program. This initiative aims to provide essential financial protection to Pakistan’s farmers while nurturing sustainable growth in the agricultural sector.
The event was attended by prominent dignitaries including, Lt Gen (R) Anwar Ali Hyder, Chairman of the Board of FFC, Mr. Mujtaba Ahmed Lohdi, Insurance Commissioner SECP and Mr. Jahangir Piracha, Managing Director and CEO of FFC, and Mr. Shoaib Javed Hussain, CEO of SLIC, along with senior representatives from both organizations.
In a statement issued for the event, Honourable Federal Minister of Commerce, Mr. Jam Kamal Khan, stated, “This collaboration between SLIC and FFC represents a bold step toward securing our agricultural future. It is not just about financial coverage; it’s about uplifting our farming communities and building resilience.”
“Through this collaboration, Sona Center farmers will automatically be enrolled in a one-year accidental death and disability insurance protection with coverage of up to PKR 1 Million at no additional cost,” stated Shoaib Javed Hussain, CEO of SLIC. “Facilitated by SLIC, this initiative ensures immediate financial security for farmers and their families, making agri insurance more accessible at the grassroots level and bringing us closer to strengthening agricultural resilience and empowering communities.”
Speaking at the ceremony, Mr. Jahangir Piracha, MD and CEO of FFC, emphasized the company’s commitment to Pakistan’s farming community, “At FFC, we recognize that our farmers are the backbone of the nation’s economy. This initiative is a testament to our dedication to improving their quality of life and ensuring financial stability in times of unforeseen challenges. By integrating insurance with our Sona Centres, we aim to deliver accessible and impactful solutions to the people who matter most—our farmers.”
The SLIC and FFC microinsurance initiative is set to create a ripple effect across Pakistan’s agricultural sector. This innovative partnership leverages FFC’s direct-to-farmer distribution network “Sona Centres” and SLIC’s expertise in insurance solutions to deliver accessible and impactful financial coverage for farmers and their families. By integrating microinsurance with fertilizer purchases, the initiative simplifies the process, ensuring farmers can benefit from financial security without the burden of additional formalities.
About State Life Insurance Corporation of Pakistan (SLIC): State Life Insurance Corporation of Pakistan, established in 1972, stands as a pillar of reliability and excellence in the insurance industry, working towards the best advantage of our communities. State Life has paid more than worth PKR 249 Billion claims in 2023 demonstrating strong and timely policyholder services.
About Fauji Fertilizer Company (FFC): Established in 1978, FFC is Pakistan’s leading fertilizer manufacturer, committed to driving agricultural growth and empowering farming communities through innovative solutions and sustainable practices.
