Pawn shops ready to meet cash demand as schools reopen

[webfact]

Pawn shops ready to meet cash demand as schools reopen

By The Nation

 

 

With the new semester of most Thai schools starting on Tuesday, pawnshops across the country have prepared extra money to cater to the increased need of customers seeking cash in exchange for valuables to pay their children’s tuition fees and other related expenses.

 

In the southern province of Narathiwat, Budsaba Thiprien, director of the Government Pawnshop Office’s Phupha Phakdee branch, said the pawnshop in the Muang Narathiwat Municipality area had already seen an increase of 300-400 customers compared to the usual daily number. 

 

Her office had prepared Bt70 million cash to cater to parents looking to pawn their valuables – most of which were gold ornaments, electrical appliances and farming tools. 

 

To aid parents seeking money for educational expenses, the pawnshop will charge an interest of 0.25 per cent per month for the pawn loans less than Bt5,000 and at 1 per cent per month for pawn loans exceeding Bt5,000 but not exceeding Bt20,000.

 

Up North, the Government Pawnshop Office’s Nakhon Chiang Mai Municipality branch has reportedly prepared Bt360 million to fund its four pawnshops and would charge a special interest rate of 0.25-0.75 per cent per month for a pawn loan worth up to Bt5,000 and more until May 31, city mayor Thassanai Buranupakorn. 

 

Ninety per cent of the pawned items there were gold ornaments or jewellery, which would fetch about 80 per cent of the item’s market price but not more than Bt100,000 per piece, he said.

 

However, only one per cent of such pawned items were not reclaimed by owners, he said, adding the unclaimed items were sold at a joint auction held once in the second week of every month and they generally fetched Bt500,000-Bt600,000 for the four pawnshops per month.

 

This year the northern city’s four pawn shops expected a 20-30 per cent increase in the number of customers due to the economic slowdown.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30345270

 

-- © Copyright The Nation 2018-05-14

[Samui Bodoh]

This is a truly depressing story. 

 

Thailand, as pretty much everyone who lives here will agree, has a terrible system of education that does not deliver what it should. And to read that government pawn shops are used to help pay for this sub-standard service is heart-breaking.

 

"...Her office had prepared Bt70 million cash to cater to parents looking to pawn their valuables – most of which were gold ornaments, electrical appliances and farming tools..."

 

Farming tools. Parents are pawning the very tools that they need for their existence in order to fund their children's education. And what do they get in return? Sub-standard BS.

 

Unless Thailand finds a way to adequately educate its young in a financially sustainable manner, it is going to suffer greatly in the up-coming economic changes that most everyone thinks will occur. Simply put, without an educated workforce, Thailand is destined to a decline and a fade into insignificance.

 

This is a self-inflicted wound.

 

Edited May 14, 2018 by Samui Bodoh
Lack of coffee

[sammieuk1]

Its shockingly expensive for the average Thai its bad enough for one kid in school but two or three must be kidney selling time.  

[mikebell]

The above post (2) is so true.  This is a shameful indictment of Thailand's education system and the failure of successive governments to tackle this.

[Darcula]

I'd say the one's whose parents have something valuable to pawn are the lucky ones. Some have nothing, and resort to loans at high interest from the local sharks.

 

Not to mention that twice daily, thousands of students risk their lives on the roads to get an education that's going to give them barely a survival wage.

 

Shame on the successive governments that have failed to address this national problem.

 

[Jeremy50]

Just don't have children, last time I checked, the human species was thriving. Just don't. The planet will thank you too.  On the other hand if you want to sign up to 3 years without sleep, then a few good years, followed by many more of surly money grubbing ingratitude from your offspring, then decades of the occasional visit or emails, fine - go ahead............................

[Anak Nakal]

It duty for parent educate children.

Government make duty harder.

Bad, bad policy and action.

[shady86]

And the government is encouraging couples to make more children. I guess quantity is more important than quality.

[Lupatria]

           

[Eligius]

1 hour ago, Samui Bodoh said:

This is a truly depressing story. 

 

Thailand, as pretty much everyone who lives here will agree, has a terrible system of education that does not deliver what it should. And to read that government pawn shops are used to help pay for this sub-standard service is heart-breaking.

 

"...Her office had prepared Bt70 million cash to cater to parents looking to pawn their valuables – most of which were gold ornaments, electrical appliances and farming tools..."

 

Farming tools. Parents are pawning the very tools that they need for their existence in order to fund their children's education. And what do they get in return? Sub-standard BS.

 

Unless Thailand finds a way to adequately educate its young in a financially sustainable manner, it is going to suffer greatly in the up-coming economic changes that most everyone thinks will occur. Simply put, without an educated workforce, Thailand is destined to a decline and a fade into insignificance.

 

This is a self-inflicted wound.

 

Excellent post, Samui. I for one was amazed to read that there is a 'Government Pawnshop Office'. What an indictment. Disgusting!

[RichardColeman]

 

3 hours ago, webfact said:

This year the northern city’s four pawn shops expected a 20-30 per cent increase in the number of customers due to the economic slowdown.

But , but, the nations booming ......according to 'government' unadulterated statistics !

[Wilsonandson]

The gold price is pretty good at the moment. 20k for 1 baht. But what else do people pawn in Thailand?

Anyone know?

And where are the pawn shops? Not seen any near me.

Sent from my SM-A700FD using Thailand Forum - Thaivisa mobile app

[ostyan]

Thai edication system is not only bad, but very expensive for everybody. Gov spends the highest amounts of money in the Ssran, where these funds can disappear, expensive for the parents and students too.we spend a lot for uniforms for example,

absolutely inproductive. As someone said, finishing the students' education he will get monimal salary, unless having goof connections.

[watcharacters]

4 minutes ago, ostyan said:

Thai edication system is not only bad, but very expensive for everybody. Gov spends the highest amounts of money in the Ssran, where these funds can disappear, expensive for the parents and students too.we spend a lot for uniforms for example,

absolutely inproductive. As someone said, finishing the students' education he will get monimal salary, unless having goof connections.

 

I like your post.

 

I may have amended it a bit to read "The Thai education system  MAY BE BAD BUT AT LEAST IT IS EXPENSIVE!"

 

Again, I like this     I know it was a simple accident but it's purfect  "having goof connections."

 

 

[SABloke]

One way to reduce costs would be to issue the kids with a clip on name/student no. badge. That way clothing could be passed down and parents wouldn't have to waste money on embroidering everytime their kids got bigger shirts.

 

[ostyan]

2 hours ago, Darcula said:

I'd say the one's whose parents have something valuable to pawn are the lucky ones. Some have nothing, and resort to loans at high interest from the local sharks.

 

Not to mention that twice daily, thousands of students risk their lives on the roads to get an education that's going to give them barely a survival wage.

 

Shame on the successive governments that have failed to address this national problem.

 

Do you know Thai governments in Thailand who were successful especially in education

[ostyan]

56 minutes ago, watcharacters said:

 

I like your post.

 

I may have amended it a bit to read "The Thai education system  MAY BE BAD BUT AT LEAST IT IS EXPENSIVE!"

 

Again, I like this     I know it was a simple accident but it's purfect  "having goof connections."

 

 

Sorry, my fat fingers 5555

[Srikcir]

1 hour ago, Eligius said:

Excellent post, Samui. I for one was amazed to read that there is a 'Government Pawnshop Office'. What an indictment. Disgusting!

Interesting the Government Pawnshop Office.

Government pawnshops have more cash to lend to parents this new school term (2015)

Mana Kliengthong, the director of the Office of the Government Pawnshop under the Ministry of Social Development and Human Security, stated that 500 million baht has been earmarked to help parents during the opening of the new school semester.

• major increase from the previous year where only 300 million baht was set aside.
• loans not exceeding 5,000 baht being charged 0.25% per month or 3% per year.
• loan amount of 5,000 – 10,000 baht will be charged 0.75% per month or 9% per year.

http://englishnews.thaipbs.or.th/government-pawnshops-have-more-cash-to-lend-to-parents-this-new-school-term/

When the Prayut government is borrowing BILLIONS of baht for questionable infrastructure projects like high speed trains and military hardware, surely the government can afford interest-free loans for education.

Education expenses in Thailand during 2008-2013 stayed above 6% of the country's gross domestic product, totaling Bt805 billion in 2013 or 6.42%. http://www.nationmultimedia.com/national/Thailands-education-spending-above-6-of-GDP-30259814.html

In 2014 Thailand's spending on education, representing 4% of gross domestic product or 20% of the national budget, is the highest in the world, according to research findings by Mahidol University.

https://www.thaivisa.com/forum/topic/695289-thailands-educational-spending-highest-in-the-world/

The budget for the Government pawnshops is not even 0.05% of the entire Government budget for education.

Consider this: Prayut government’s budget for 2018 raised the Defense Ministry’s budget by Bt8.8 billion. http://www.nationmultimedia.com/detail/politics/30317580

And should the government look more closely at education government funding surely it will find billions in corruption that could better serve public education.

 

[RichardColeman]

2 minutes ago, Srikcir said:

And should the government look more closely at education government funding surely it will find billions in corruption that could better serve public education.

What ? Government Investigate the government for corruption ? That's a punt on a 1 legged horse to win the Grand National !

[mercman24]

sorry kids, no money in the kitty, we bought 3 subs, a few jet fighters and 10 tanks, and if there was enough money you can bet it would be syphoned off by corrupt officials. as per the ongoing case now.

[Srikcir]

37 minutes ago, Srikcir said:

should the government look more closely at education government funding surely it will find billions in corruption that could better serve public education.

In just one stance:

"THE EDUCATION Ministry sacked a senior official yesterday and plans to claim compensation from everyone involved in irregular disbursements from its Educational Fund for Life Development between 2007 and 2018, after more than Bt100 million was found to have been illicitly diverted during the period."  http://www.nationmultimedia.com/detail/national/30341798

Then there's costly education inefficiencies:

“We have 20,000 bureaucrats who don’t teach but are running schools,” Education Minister Teerakiat said in the July 12 interview, signaling that one of the main obstacles to reform may be the Education Ministry itself. “In Vietnam, there’re only seventy in their ministry.” https://www.bloomberg.com/news/articles/2017-07-18/skills-gap-tests-thai-junta-s-goal-of-forging-innovative-economy

But it's the school-age parents that pay for all these "misadventures."

 

[billd766]

2 hours ago, mercman24 said:

sorry kids, no money in the kitty, we bought 3 subs, a few jet fighters and 10 tanks, and if there was enough money you can bet it would be syphoned off by corrupt officials. as per the ongoing case now.

 

The Ministry of Education has the highest budget of any government department in Thailand.

 

The problem is not how much you get in that budget, but how much is wasted and corruptly stolen that counts.

[Monkeyrobot]

The interest rate for 5000 is not bad , 0.25% 

[Different]

God damn 3rd world regime taking advantages from children whereas elementary and high school education is basic human right.

[sawadeeken]

13 hours ago, mercman24 said:

sorry kids, no money in the kitty, we bought 3 subs, a few jet fighters and 10 tanks, and if there was enough money you can bet it would be syphoned off by corrupt officials. as per the ongoing case now.

I had the same exact thought about the 'Military Spending' so extravagant when the Government don't worry a bit about educating its children............

Sometime I feel that all the 'people' in Government are well of and like to live the HiSo life and actually those HiSo's WANT to keep a large number of the Thai population uneducated and poor.... just so they have a 'cheap labor pool' to hire maids, gardeners and chauffeurs from....

[JAG]

Just don't have children, last time I checked, the human species was thriving. Just don't. The planet will thank you too.  On the other hand if you want to sign up to 3 years without sleep, then a few good years, followed by many more of surly money grubbing ingratitude from your offspring, then decades of the occasional visit or emails, fine - go ahead............................

Based on your experience? Well, not all children treat their parents the way you seem to have treated yours..


Sent from my KENNY using Thailand Forum - Thaivisa mobile app

[observer90210]

Government pawnshops....as they exist in many countries around the world.....they are plainly a disguised confession on the failure of governance to create a fair society,  where everybody has the vital minimum....

 

...but then, governance has it's priorities...yellow submarines on one side and reactivating a multi billion dollar naval fleet on the other...not to mention those in between....

Edited May 15, 2018 by observer90210

[JonnyF]

20 hours ago, mercman24 said:

sorry kids, no money in the kitty, we bought 3 subs, a few jet fighters and 10 tanks, and if there was enough money you can bet it would be syphoned off by corrupt officials. as per the ongoing case now.

PS. If you were thinking of protesting please be aware that we'll use those very same tanks (that we purchased from the money your parents paid in taxes) against you. In the name of reconciliation. Have a nice day. P. 

[Bluespunk]

On 14/05/2018 at 1:10 AM, webfact said:

Pawn shops ready to meet cash demand as schools reopen

Parasites.