Thai police officers face bankruptcy with debt over 300 billion baht

[webfact]

 

Police General Torsak Sukvimol has indicated that a multitude of law enforcement officers across Thailand are facing impending bankruptcy due to an accumulated debt totalling around 300 billion baht. This revelation came about during his interaction with the House committee tasked with reviewing the 2024 annual budget expenditure bill.

 

Pol. Gen. Torsak was summoned to respond to inquiries concerning the Royal Thai Police’s (RTP) 117 billion baht budget allotment. He openly addressed the committee, revealing the dire financial straits many officers are in, with some even struggling to own a home due to their enormous debt, reported Bangkok Post.

 

“Regarding welfare housing, I am asking for a budget to build central flats for officers. If their living conditions improve, they will feel more motivated to serve and protect the people.”

Pol. Gen. Torsak further stressed the importance of enhancing the quality of life for police officers to inspire them to be more dedicated to maintaining peace and order.

“Every project undertaken by the RTP is accountable and transparent. If there is something suspicious, I will not sign it.”

 

Pol. Gen. Torsak also highlighted staffing issues caused by the Covid-19 pandemic over the past three years. He cited an instance of a police station near Bangkok, built to accommodate up to 200 officers, being understaffed by half. This shortage subsequently burdens the remaining officers, who are tasked with serving approximately 400,000 locals, including the unregistered populace.

In response to the shortage of police investigators, Pol. Gen. Torsak mentioned that several units were actively seeking solutions. He partly attributed this problem to other state agencies borrowing police investigators for their operations, resulting in a pressing need for replacements to avoid exacerbating the shortage.

 

Until a resolution is found, police stations have been forced to reassess staff deployment, reassigning some personnel and sending others to stations critically short of staff.

 

by Mitch Connor

Photo courtesy of Bangkok Post

 

Full story: The Thaiger 2024-02-22

 

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[transam]

Too easy to borrow, it is expected.......

[ezzra]

Not those who are on the take one would think, maybe the lowly foot patrol ones that don't have many

chances to pocket much, on the other hand, I don't put much stock in what the general

is saying simply trying to make noises being budget's time...

[lopburi3]

Which, if my math is right (often is not) makes the average amount about 1.3 million baht per officer.

Wiki puts officers between 210,700 and 230,000.

https://en.wikipedia.org/wiki/Royal_Thai_Police

 

Other sources place one million baht debit at less that 14% of total individuals.

https://www.bloomberg.com/news/articles/2023-06-30/why-thais-have-high-household-debt-and-why-it-s-risky?embedded-checkout=true

[connda]

19 minutes ago, webfact said:

Pol. Gen. Torsak was summoned to respond to inquiries concerning the Royal Thai Police’s (RTP) 117 billion baht budget allotment. He openly addressed the committee, revealing the dire financial straits many officers are in, with some even struggling to own a home due to their enormous debt, reported Bangkok Post.

Tip of the iceberg.  The Thai government and central bank keep sweeping this under the rug, but the average Thai is in hock up to their eyeballs - it isn't just police.

[worgeordie]

The same for farmers, Civil service ,Teachers all up to their eyes in debt

because it's so easy for them to borrow from the banks ,and not really

pushed to repay their debts....

 

regards worgeordie 

[JeffersLos]

299,999,999,500.

 

One got me this morning in the outside lane. 

[stoner]

8 minutes ago, atpeace said:

It has to end in disaster I think but when?  Next month or 10 years down the road.  Weird times we live in...

 

no bother just keep raising the debt ceiling. which has almost doubled in the last 10 years. funny that. 

[bkk6060]

At lot of the debt with the police is from their own union/association or whatever they call it here.  Borrowing from the government really. Seems pretty liberal with house and car loans leaving very little after debt income. 

[quake]

The cops are having financial difficulties.

What a shame. 

[Will B Good]

If the rate at which they borrow if favourable....why not?....borrow as much as you can, pay off more expensive borrowings and/or invest at a better rate of return......isn't that what the teachers do?

[atpeace]

13 minutes ago, stoner said:

 

no bother just keep raising the debt ceiling. which has almost doubled in the last 10 years. funny that. 

Same goes for federal debt.  If politicians reduced debt the economy would most likely crater and re-elections odds also would crater.  One of the few flaws of a democracy. 

 

The world is going to ride this debt wave until it crashes and I have no idea when that will happen and I'm not 100% sure it will.  People seem tired of discussing the consequences of debt when there seems to be only positive results especially for the upper 25%.

[bamnutsak]

Now do Teachers.

 

https://www.thaipbsworld.com/thailands-teachers-accumulate-combined-debts-of-1-4-trillion/

 

 

300 Billion, pfft. Rookies.

 

Teachers up to 1.4 TRILLION.

[lordgrinz]

Are these debts from buying higher positions? How much flowed to people like the General in the article above? The entire RTP should be investigated, every financial movement, every satang tracked. I'm betting we can find where all these billions of baht went, and to whom, time to clean house at the RTP starting at the top.

[bamnutsak]

3 minutes ago, lordgrinz said:

Are these debts from buying higher positions?

No. Those are funded by the Police Credit Union.

[JeffersLos]

As the wholesome, upstanding unit of a community, risking their lives to protect and serve the common people, police officers should be paid double and have their debt wiped clean.

[spidermike007]

I cannot help but think that most of these officers who are in heavy debt, are very uncreative franchisees. They have a license to mint money. What gives? Perhaps gambling debts?

[spidermike007]

1 minute ago, JeffersLos said:

As the wholesome, upstanding unit of a community, risking their lives to protect and serve the common people, police officers should be paid double and have their debt wiped clean.

Was that an attempt at satire? One cannot use the terms wholesome and RTP in the same sentence. That is just not right.

[LudwigK]

WHY do the banks and car companies let them get into so much debt??  And all Thais??

Edited February 22 by metisdead
Oversize font reset to normal.

[IamNoone88]

Ample fines waiting to be taken from tourists and local a like jumping red lights, speeding, wrong use of lanes, no licenses or helmets in Phuket. Nothing is never done at the traffic lights or awy from the well known traffic stops. Not a single red light camera unlike Isaan where they are everywhere.

[Thonburi-tales]

Even staff at the metro electricity and water boards can get cheap home and car loans.

The whole system of governance is rotten.

Shopping malls still give credit to people buying tvs and a/c.

Alot of Thais make a few repayments and quit. 

Ive seen  thais pack up the truck with personnal valuables then the kids and drive out of the soi at 4am turn left and never to be seen again.

Happens everyday in Bangkok.

Never loan money to Thais.

[soalbundy]

2 hours ago, webfact said:

 

Police General Torsak Sukvimol has indicated that a multitude of law enforcement officers across Thailand are facing impending bankruptcy due to an accumulated debt totalling around 300 billion baht. This revelation came about during his interaction with the House committee tasked with reviewing the 2024 annual budget expenditure bill.

 

Pol. Gen. Torsak was summoned to respond to inquiries concerning the Royal Thai Police’s (RTP) 117 billion baht budget allotment. He openly addressed the committee, revealing the dire financial straits many officers are in, with some even struggling to own a home due to their enormous debt, reported Bangkok Post.

 

“Regarding welfare housing, I am asking for a budget to build central flats for officers. If their living conditions improve, they will feel more motivated to serve and protect the people.”

Pol. Gen. Torsak further stressed the importance of enhancing the quality of life for police officers to inspire them to be more dedicated to maintaining peace and order.

“Every project undertaken by the RTP is accountable and transparent. If there is something suspicious, I will not sign it.”

 

Pol. Gen. Torsak also highlighted staffing issues caused by the Covid-19 pandemic over the past three years. He cited an instance of a police station near Bangkok, built to accommodate up to 200 officers, being understaffed by half. This shortage subsequently burdens the remaining officers, who are tasked with serving approximately 400,000 locals, including the unregistered populace.

In response to the shortage of police investigators, Pol. Gen. Torsak mentioned that several units were actively seeking solutions. He partly attributed this problem to other state agencies borrowing police investigators for their operations, resulting in a pressing need for replacements to avoid exacerbating the shortage.

 

Until a resolution is found, police stations have been forced to reassess staff deployment, reassigning some personnel and sending others to stations critically short of staff.

 

by Mitch Connor

Photo courtesy of Bangkok Post

 

Full story: The Thaiger 2024-02-22

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

 

Set up an online gambling site, it's been done before.

[Jack Hammer]

Go borrow some money off Ferrari Joe and Big Joke, that would help ease the economy.  Also Big Joke could provide accommodation from his vast real estate holdings 

[Zack61]

1 hour ago, bkk6060 said:

At lot of the debt with the police is from their own union/association or whatever they call it here.  Borrowing from the government really. Seems pretty liberal with house and car loans leaving very little after debt income. 

This is also the case for government health workers. I suspect all government workers have access to this type of seemingly cheap, crippling debt

[brianthainess]

1 hour ago, JeffersLos said:

299,999,999,500.

 

One got me this morning in the outside lane. 

I have been told if you keep your right hand indicator on, you can get away with that, saying you intend to make the next U turn 

[TheFishman1]

Yeah I don’t know I would stop by traffic cop my big bike the first time in over two years and he wants to take my license and he said to go to police station it cost 1000 or just give him 500 so I didn’t have time to go to the police station. I just gave him 500. I’m thinking the guy stopped 10 and 20 people a day they must make a pretty good income, TIT 

[BestB]

Perfect example of why fighting corruption is not the right thing to do.

 

bring back the good old days of free for all extortions 😂😂😂

 

seriously though, police  official  salaries are very low. Before they had lots of “supplementary” income allowing to pay off debts. Now that rules have been tightened, that income also dried up. 
 

Even check points, since covid hardly any around. Before covid Pattaya station had 2 windows to pay the fines, even had ticket system as always full of people waiting to pay fines, now have 1 window and station is empty 

[Muhendis]

5 minutes ago, TheFishman1 said:

Yeah I don’t know I would stop by traffic cop my big bike the first time in over two years and he wants to take my license and he said to go to police station it cost 1000 or just give him 500 so I didn’t have time to go to the police station. I just gave him 500. I’m thinking the guy stopped 10 and 20 people a day they must make a pretty good income, TIT 

Well yes they do make a fair few bob out of it but it tends to go into a central fund for later dispersal. Rather like a christmas fund.

[Cabradelmar]

Not a surprise... Banks are not too smart when it comes to underwriting credit. Plis, the amount of money departments spend on equipment is outrageous... They all have tactical gear like it's WWIII. Insane. And a waste. 

[AhFarangJa]

Must be a knock on effect from the computerisation of automatic speeding fines, etc. Tea money taking a big hit. Thai household debt is very high I believe. In our village there are always meetings and announcements that it is time to pay the government their instalment on loans, or interest will be added................cannot get blood from a stone, they borrow but do not have the concept, or the means to repay the banks.