INSURANCE COVER FOR FISHING EQUIPMENT

Thiruvananthapuram: The State government will launch the proposed insurance scheme for fishing equipment of traditional fishermen, in Alappuzha on August 25. Minister for Fisheries and Registration S. Sarma said that two lakh fishermen would benefit from the scheme. The government had earmarked Rs. 1 crore for it in the budget. The insurance would cover 75 per cent of the cost of boats, engines and nets lost during natural calamities.

The premium would be 1.8 per cent of the value of the equipment. The beneficiary would have to pay 50 per cent of the premium and the government would meet the balance. The scheme would be implemented by the State Insurance Department, in collaboration with the Oriental Insurance Company.

The Minister announced that the proposed scheme to provide interest-free loans to fisherwomen would be launched shortly. The plan was to disburse Rs. 5,000 each to 40,000 women engaged in the sale of fish. It would be carried out through the primary cooperative societies affiliated to Matsyafed. The government would provide Rs. 50 lakh towards interest costs for the funds and the Society for Assistance to Fisherwomen would meet the balance. The total outlay for the project was Rs. 21.48 crore.

The fisherwomen would have to be members of self-help groups to take the loans. The money would be repayable over 50 weeks. Mr. Sarma said that applications had been invited for both the schemes from fishermen. The Fisheries Director was drawing up a list of fisherwomen in the State towards identifying the beneficiaries and organising them into self-help groups, the Minister added.

Source: The Hindu