VASCO
In the wake of the devastating fire at theVasco Sunday Modern Market, the Mormugao Municipal Council (MMC) is planning tointroduce a comprehensive fire insurance scheme covering all markets under itsjurisdiction, with traders expected to contribute towards the premium,including through daily payments.
MMC Chief Officer Siddhivinayak Naik said hehad already moved a note proposing the scheme, which would provide financialprotection to traders in the event of fire-related losses without placing theentire burden of compensation on the public exchequer.
Naik said the council was already implementingcomprehensive fire insurance for festivals such as the Saptah and wanted toextend a similar arrangement to its markets.
"I have been informed that there havebeen fire incidents in the markets in the past as well. We are the first andonly civic body to have comprehensive fire insurance for festivals like Saptah.We now want to introduce a similar scheme for our markets, where every tradercan contribute towards the premium. They can even make daily payments, like asavings arrangement, so that they can conduct their businesses withoutfear," Naik said.
He said the proposed coverage would extend toall markets under the MMC, including the Sunday market and the vegetable andfruit markets.
"We want to ensure that such losses do nothave to be extended to the public exchequer. We hope to receive the cooperationof all vendors in implementing this scheme," he added.
