Discussing the Crop and Livestock Compensation Trust Fund during the meet the press session yesterday, the prime minister said that a 50 per cent subsidy would cost the government over a billion ngultrum. Full compensation would cost around Nu 3bn, which according to the prime minister, is not feasible due to budget constraints.
In the Agriculture and Livestock Ministry’s insurance scheme, the government will cover 50 per cent of the compensation with affected farmers bearing the remaining 50 per cent.
The prime minister added that the scheme will start as a pilot project this year after establishing the necessary policies, rules, and regulations. The National Assembly approved the establishment of the trust fund last week.