Kathmandu. The Office of the Auditor General has suggested making the determination of livestock insurance premium scientific and predictable.
The Financial Auditor General submitted the fiscal year 2081 to President Ram Chandra Poudel today. This was suggested in the 63rd report of 82. The OAG has suggested this as the financial liability of the Government of Nepal seems to be increasing with the increase in the area of livestock insurance and the insurance premium.
According to the report, the Department of Livestock Services has paid Rs 1.43 billion to the Nepal Insurance Authority (NIA) as insurance premium subsidy in the current fiscal year. According to the report, the annual premium for livestock, fish and birds stood at Rs 34.91 billion and Rs 1.58 billion respectively. ’
Similarly, the auditor general has also pointed out errors in crop and livestock insurance, premium subsidy and claim payment. “As per the Crop and Livestock Insurance Subsidy Directive, 2081 BS, an insurance company has claimed Rs 4.72 billion from 7,708 insurance policies, while the Department of Agriculture has fixed Rs 1.87 billion as insured Rs 1.87 billion,” the report states, adding that the insurance company has provided Rs 9.99 crore to 80 reports of Rs 124.87 million on the basis of existing insurance policy. Only the amount of money has been paid. Therefore, it is necessary to verify the documents related to the insurance premium amount on time and pay the claim. ’
