April 12, 2008	Saturday	Rabi-us-Sani 5, 1429

KARACHI, April 11: An insurance cover of Rs200,000 for the fishermen registered with the Fishermen Cooperative Society, in case of fatal occupational accidents was announced here on Friday.

This was the first financial relief package announced by the new administration of the Fishermen Cooperative Society, which took over last December, after signing an agreement with a private insurance vompany at Karachi Fish Harbour.

Explaining the salient features, FCS administrator Tahir Mazhar Dada said the fishermen were required to obtain coverage before going on fishing trips under the agreement. The Society would provide a list of fishermen crew (to be insured) to the company and keep it informed of deletions and additions.

He made it clear that accidental coverage would be enforced while the fishermen were on fishing trip and the policy would be effective for one year from the date of issuance of certificate to the fishermen and it would be extended only with mutual consent of both the parties for another year from the date of expiry of this agreement on the same or revised rate.

The annual premium rate shall be Rs120 for every fisherman registered with the Society, which will pay one-fourth of the premium based on a figure of Rs30,000 initially and the same amount during the second and third quarters. In the last quarter, the premium collected would be calculated and adjusted accordingly.

In case of death, the agreement states, the intimation shall be made within 15 days along with the relevant documents to the company and the payment of all claims shall be made to the Society. The company has also the right to investigate the claims submitted to it.

The death compensation amount will be paid to the FCS within 15 days of the submission of a claim, if found complete in all respects.

In case of any ambiguity arising out of any cause other than the causes laid down under the exclusion but within the purview of the agreement, the decision of the chairman/competent authority/administrator of the Fishermen Cooperative Society would be considered final with regard to any such claim.

The administrator lauded the joint efforts of all the stakeholders, saying that it was because of their cooperation that the Society made significant progress in a short span of time. On this occasion, he also announced the revival of Umrah and Haj quotas for the employees. The facility was suspended for a couple of years due to bad financial position of the Society.

The ceremony was attended by FCS senior officials, including manager Mohammad Ghazanfar Ali Boota, former directors Haji Shafi Mohammad Jamote, Haji Mohammad Yunis, Haji Ibrahim, representatives of mole-holders and officials of the insurance company.