New Agricultural Insurance Pension Scheme for farmers is launched with effect from today (31).

The Agricultural and Agrarian Insurance Board has implemented a New Agricultural Insurance Pension Scheme with effect from today (31).

The significance of this pension scheme is that it benefits not only farmers but also those in other professions.

The inauguration of this pension scheme took place today (31) morning at the Hector Kobbekaduwa Agrarian Research and Training Institute, Colombo 7 under the patronage of Minister of Agriculture, Wildlife and Forest Resources Conservation Mahinda Amaraweera. Fifty nine pensioners were awarded insurance beneficiary certificates by the Minister on the occasion. Agriculture State Minister Mohan de Silva, Livestock State Minister D.B.Herath and Agriculture Insurance Board Chairman W.M.M.B.Weerasekara and others were present.

Under this pension scheme, individuals can determine their pension according to the income and contribute under different age categories.


Minister of Agriculture Mahinda Amaraweera expressed his views on this occasion.

“When I was the Agriculture Minister in 2018, chilli, paddy, maize, soybean, potato and big onion farmers were provided with an insurance policy of Rs. 40,000 per acre. Whenever there is crop damage Rs 1 lakh was provided as compensation. Now farmers request to increase this amount. Therefore, the Agricultural Insurance Board was advised to provide Rs.5 lakh per acre by charging a small premium. We will start this insurance system as soon as possible.”

“Maha season cultivation has begun now. Urea required for paddy and maize is being distributed. Both Urea and MOP will be provided for this season. Some say there is no mud fertilizer. However, in accordance with the soil tests carried out by us, the soil contains phosphorus except in two districts of the Eastern province. Even if we try to provide mud fertilizer, we are not able to give money or buy them. But the USAID will provide 36,000 MT of mud fertilizer next January. Accordingly, free mud fertilizer will be provided to farmers in the coming Yala season.”

“We provided 100 kg of Urea per hectare in the previous Yala season. This time, 170 kg of Urea per hectare will be provided. Therefore, the claims by some farmer representatives of various political parties that fertilizers are not available are wrong. President Ranil Wickramasinghe and the Cabinet of Ministers will provide maximum relief to the farmers,” the Minister said.



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