CHANDIGARH, Sept 30: The Communist Party of India (Marxist) today demanded compensation at the rate of Rs 7,500 per acre to the farmers for the crop damage due to heavy rains in Punjab.Talking to the mediapersons, state party secretary Balwant Singh expressed apprehension of the incidence of suicides by the farmers going up in the state under the situation and demanded moratorium on repayment of loans by them. The party also favoured waiving of these loans. In case of the loans extended by the arhtiyas, Balwant Singh said the state government should meet the interest liability.He regretted that Chief Minister Parkash Singh Badal had not cared to find time to meet the representatives of the farmers despite several written requests by the CPI(M) affiliated Punjab Kisan Sabha.He alleged there was flood like situation in several areas, especially in Ferozepur district.He demanded a high level inquiry, preferably judicial, into the diversion of funds allocated for flood prevention works to Faridkot district while neglecting the rest of the state.Balwant Singh called upon Badal to convene a meeting of the representatives of all the political parties and kisan organisations to discuss the situation and take remedial measures.He announced the staging of dharnas by the affected farmers all over the state during the next few days. He said the detail plans would be finalised in consultation with other like minded parties.He referred to the distress sale of paddy all over the state. The paddy being brought to the market had been affected due to adverse weather conditions and not meeting the specifications, he said.