ALOR SETAR: The Paddy Crop Takaful Scheme (STTP) is presently being refined on the Bank Negara degree, by way of the Malaysian Agricultural Bank (Agro Bank), earlier than its introduction to farmers.
Agriculture and Food Security Minister Datuk Seri Mohamad Sabu stated that the scheme goals to alleviate the monetary burden on farmers brought on by pure disasters, notably within the context of the present unsure local weather change scenario.
“We hope that each one farmers might be insured by way of this scheme finally. Previously, below the Paddy Crop Disaster Fund (TBTP), the compensation course of was prolonged; for instance, compensation for final yr’s catastrophe was solely obtained this yr as a result of handbook processing.
“With STTP, the compensation course of might be quicker as all the pieces is already within the system. The contribution might be inexpensive, however the farmers’ welfare might be higher protected,” he stated.
He stated this after presenting monetary help below TBTP to affected Muda Agricultural Development Authority (MADA) farmers and officiating the MADA Day 2024 programme on the company’s headquarters, immediately.
He additional defined that STTP represents a extra complete scheme, in contrast with TBTP, providing greater compensation of as much as RM3,000 per hectare per season, versus a most of RM1,800 per hectare per season below TBTP.
The scheme is about to learn all paddy farmers below MADA in Season 2/2024, with a deliberate launch scheduled for September, together with the Malaysian Agriculture, Horticulture and Agro Tourism Exhibition (MAHA) 2024.
He additionally urged all farmers within the Muda space to stick to the rice planting schedule for Season 1/2024, to stop pointless water wastage.
