Thailand’s cash-strapped Ministry of Finance will consult the Budget Bureau about finding an additional 76 billion baht to fund the Commerce Ministry’s rice farmer revenue guarantee scheme, for the 2021-22 main rice crops, estimated to cost about 89 billion baht.

 

Finance Minister Arkhom Termpittayapaisith said, today (Tuesday), that he had to talk to the Budget Bureau, adding that the fund will be paid in instalments via the state-owned Bank of Agriculture and Agricultural Cooperatives, with the first expected in the next three months, when rice is harvested for market.

 

One of the options proposed is to extend the limit of fund raising through special state-run financial institutions or other agencies to more than 30% of the budget for the 2022 fiscal year.

 

Full Story: https://www.thaipbsworld.com/additional-76-billion-needed-for-thailands-rice-price-support/

 

-- © Copyright Thai PBS 2021-11-09

 

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Way to go Prayut, spending 930 billion baht more than you earn.

 

According to fiscal discipline legislation, the use of funds from special state-run financial institutions is capped at 30% of budgeted expenditure, or 930 billion baht, out of a total public sector budget of 3.1 trillion baht.

Of course, nobody will illegally import tons of Cambodian rice and pass it off as domestic product to get the subsidy, resulting in a mountain of rice that will just rot in government warehouses and depress the international price.

 

Back to the future.

 

 

48 minutes ago, Gsxrnz said:

Of course, nobody will illegally import tons of Cambodian rice and pass it off as domestic product to get the subsidy, resulting in a mountain of rice that will just rot in government warehouses and depress the international price.

 

Back to the future.

 

 

Copycat - shame on you. Those days though they could book 15,000 Baht per ton; wondering at what inflated price they want to pull off the same stint again. Or are they getting ready for the next "coup de moneytaire? 

Oh dear.

Up to their old tricks again.

Sounds like what they convicted Thaksins sister for! 

28 minutes ago, biggles45 said:

Sounds like what they convicted Thaksins sister for! 

No. Sounds like what they accused Yingluck of, which was in part their justification for the coup in '14. Charges were NEVER proven and all charges have been subsequently dismissed for lack of evidence or proof of wrongdoing nor colusion. Yingluck was NEVER convicted and every single justification used at the time for the coup has been found unjustified by the courts. 

Rice price support scheme, quarantee scheme, insurance scheme, pledging scheme. Only one ran foul of the political persecution.