Extension Of Thai Rice-Pledging Scheme: Bad News

[Thaddeus]

The PTP broke most of their other pre-election promises. So should be no problem to break the promise about rice pricing. Especially since it is devastating the economy as well as the future of rice exports...

While this scheme remains the top news story all the other broken promises are kept hidden too.

[chiangmaikelly]

The PTP broke most of their other pre-election promises. So should be no problem to break the promise about rice pricing. Especially since it is devastating the economy as well as the future of rice exports...

While this scheme remains the top news story all the other broken promises are kept hidden too.

And what would those be?

[chiangmaikelly]

This scam cant last, it is already overstretching the Thai budget, the PTP will have to decide if they want to fund this scam or run the country. "A recent Senate report said public debt, which was 42.4% of GDP at the end of April, would rise by an average of 4% per year if the scheme continues, and the Prime Minister has already admitted as much". Another crack in Thaksin support, he better consolidate his total control before the hens come home to roost. Maybe the 2 trillion baht loan will extend this scam but sooner or laters the truth will come out. Another economic miracle from the PTP.

Doesn't 42.4% public debt put Thailand among the nations with the least public debt? Both Canada and the UK have twice as much pubic debt 80 some percent eh? What is the total percent of the GDP rice pledging scheme so far?

[OzMick]

This scam cant last, it is already overstretching the Thai budget, the PTP will have to decide if they want to fund this scam or run the country. "A recent Senate report said public debt, which was 42.4% of GDP at the end of April, would rise by an average of 4% per year if the scheme continues, and the Prime Minister has already admitted as much". Another crack in Thaksin support, he better consolidate his total control before the hens come home to roost. Maybe the 2 trillion baht loan will extend this scam but sooner or laters the truth will come out. Another economic miracle from the PTP.

Doesn't 42.4% public debt put Thailand among the nations with the least public debt? Both Canada and the UK have twice as much pubic debt 80 some percent eh? What is the total percent of the GDP rice pledging scheme so far?

Why does it matter what the percentages are? It is a huge loss of funds that could have been spent on something far better for the country than vote-buying.

[khunken]

This scam cant last, it is already overstretching the Thai budget, the PTP will have to decide if they want to fund this scam or run the country. "A recent Senate report said public debt, which was 42.4% of GDP at the end of April, would rise by an average of 4% per year if the scheme continues, and the Prime Minister has already admitted as much". Another crack in Thaksin support, he better consolidate his total control before the hens come home to roost. Maybe the 2 trillion baht loan will extend this scam but sooner or laters the truth will come out. Another economic miracle from the PTP.

Doesn't 42.4% public debt put Thailand among the nations with the least public debt? Both Canada and the UK have twice as much pubic debt 80 some percent eh? What is the total percent of the GDP rice pledging scheme so far?

Even if you believe the government figures you are 'forgetting' about the sleight of hand. B1.14Tn FIDF debt swept under the carpet by transferring it to the BOT's books - one PTP minister replaced for pointing out the dishonesty of this.

Another B2Tn coming up in infrastructure projects - no doubt it will be fiddled off-budget somehow. Google is your friend for the last question.

Edited March 14, 2013 by khunken

[Thaddeus]

The PTP broke most of their other pre-election promises. So should be no problem to break the promise about rice pricing. Especially since it is devastating the economy as well as the future of rice exports...

While this scheme remains the top news story all the other broken promises are kept hidden too.

And what would those be?

Which of these have they fulfilled both to the letter and the time-scale?

• national minimum daily wage of Bt300 ($10) nationally
• Universal medical care with patients making a co-payment of Bt30 ($1) per consultation
• Credit cards for farmers and a guaranteed price of Bt15,000 – Bt20,000 ($488 – $651) per ton for unmilled rice
• A moratorium for household debt up to Bt500,000 ($16,285) per household, with emphasis on debt reduction for teachers, farmers and civil servants
• A minimum monthly salary of Bt15,000 ($500) for university graduates and a “One Tablet-PC per Child” project for school children
• A 23.3 per cent reduction in corporate tax rates in the first year (from 30 to 20 percent) with a further 13 percent reduction in its second year to a flat 20 percent.
• Reduced taxes for first home and first car buyers
• A standard Bt20 (65 cent) fare for all Bangkok’s mass transit rail lines (MRT)
• High-speed rail lines linking major provincial cities in the north, northeast, east and upper south regions
• Rural village development funds of between Bt300,000 and Bt1 million ($9,770 – $32,573) per year
• A welfare allowance of Bt600 ($19.55) per month for citizens over 60, increasing by Bt100 ($3.20) at 70, and 80, and rising by a further Bt200 ($6.40) at 90.
• Free Wi-Fi and Internet access in public places
• 30km (18.8 mile) of levees to protect Bangkok and satellite towns from Gulf of Thailand tidal surges.
• Special administrative status for Muslim provinces in the violence-plagued southern provinces
• A war on drugs
• Amnesty for political offenses committed since 2006

[DLock]

...but the Farmers are spending like this scheme will go on forever, or at least rice exports will be back to where they were.

They are wrong on both points.

When the Government does pull the plug, the demand for rice will slow because of stored rice sold at a loss and the cheaper rice from India and Vietnam - the price will be low as a result...a double whammy for rice farmers.

...so enjoy the good times boys...because your world is about to come crashing down soon.

[rubl]

So, the THB 400 reserve somehow in the 2012/2013 National budget will be used up completely. That includes the THB 120 - 180 billion which the government planned to recoup from rice sales. Only a month ago somegovernment offical mentioned THB 180 billion in G2G deals, but that seems to have shrunk to 20 billion only.

For 2013/2014 maybe less budget is required with zoning, cutting off some areas, etc., etc. and of course most of that budget will be covered by enormous G2G sales when finally all those foreigners start to recognize the true value of Thai rice and how much maturing it in warehouses improves it already amazing taste.

[khunken]

So, the THB 400 reserve somehow in the 2012/2013 National budget will be used up completely. That includes the THB 120 - 180 billion which the government planned to recoup from rice sales. Only a month ago somegovernment offical mentioned THB 180 billion in G2G deals, but that seems to have shrunk to 20 billion only.

For 2013/2014 maybe less budget is required with zoning, cutting off some areas, etc., etc. and of course most of that budget will be covered by enormous G2G sales when finally all those foreigners start to recognize the true value of Thai rice and how much maturing it in warehouses improves it already amazing taste.

I'm sure it would make great Saki.

[rubl]

So, the THB 400 reserve somehow in the 2012/2013 National budget will be used up completely. That includes the THB 120 - 180 billion which the government planned to recoup from rice sales. Only a month ago somegovernment offical mentioned THB 180 billion in G2G deals, but that seems to have shrunk to 20 billion only.

For 2013/2014 maybe less budget is required with zoning, cutting off some areas, etc., etc. and of course most of that budget will be covered by enormous G2G sales when finally all those foreigners start to recognize the true value of Thai rice and how much maturing it in warehouses improves it already amazing taste.

Now before I'm getting accused of singlehandedly having caused trememdous harm to the Thai economy and torpedo-ed it's GDP, let me correct a typo

Obviously the first sentence should have been "So, the THB 400 billion reserved somehow ..."

[rubl]

So, the THB 400 reserve somehow in the 2012/2013 National budget will be used up completely. That includes the THB 120 - 180 billion which the government planned to recoup from rice sales. Only a month ago somegovernment offical mentioned THB 180 billion in G2G deals, but that seems to have shrunk to 20 billion only.

For 2013/2014 maybe less budget is required with zoning, cutting off some areas, etc., etc. and of course most of that budget will be covered by enormous G2G sales when finally all those foreigners start to recognize the true value of Thai rice and how much maturing it in warehouses improves it already amazing taste.

I'm sure it would make great Saki.

I think with Sato, Zato and Saki the emphasize is on cleanlyness, no preservatives, finest (glutenous) rice. Also the first step fermentation uses carefully selected yeasts to convert the starch in the rice into sugars and other equally carefully selected yeasts to convert sugars into alcohol.

Now some of this lengthy process may be improved by having rice stored in Thai warehouses with sacks sprayed with interesting chemicals and various natural fauna mixed into the lot to get a natural molding process which might give the correct substance to make a fine rice wine. Although I'm willing to try most things at least once, I forsee that the appreciation of the Thai matured brew will not come natural. I'm also not sure that after the first glass you'll live long enough to acquire a liking to it

Still, may I suggest that the Thai government already claims Intellectual Property copyright on this?

[Mosha]

It is a good thing the industrial sector is growing at a rapid rate because the rice farmers are going to be out of a job next year. Since agriculture is 10% of the GDP but 40% of the labor force there has to be a shift.

That would require the government to say we got it wrong. Chance of that is between fat and no

[A_Traveller]

But the World Bank goes for 3.4%

[Mosha]

All this Government needs now is Peter Sellers and Leslie Nielson to join them and Thailand will have the greatest pantomime on Earth. The very thought of Yingluck striding about the stage in fishnet tights slapping her thigh - Ooohhh. Any nominations for those who will play the two ugly sisters?. There's one guy who I think would be a walk-in for the part.

Yingluck "Where's Thaksin"

Audience "He's behind you."

[chiangmaikelly]

It is a good thing the industrial sector is growing at a rapid rate because the rice farmers are going to be out of a job next year. Since agriculture is 10% of the GDP but 40% of the labor force there has to be a shift.

That would require the government to say we got it wrong. Chance of that is between fat and no

No it would just require the continuance of the present trend of farmers moving from the farm to industrial centers. Check the figures this has been going on every year for the past 20 years. The government is doing their part by encouraging foreign investment as demonstrated by new mega factories by Ford and others.

[Mosha]

It is a good thing the industrial sector is growing at a rapid rate because the rice farmers are going to be out of a job next year. Since agriculture is 10% of the GDP but 40% of the labor force there has to be a shift.

That would require the government to say we got it wrong. Chance of that is between fat and no

No it would just require the continuance of the present trend of farmers moving from the farm to industrial centers. Check the figures this has been going on every year for the past 20 years. The government is doing their part by encouraging foreign investment as demonstrated by new mega factories by Ford and others.

They better wait until after April, and the lights are back on then.

[rubl]

So, the THB 400 reserve somehow in the 2012/2013 National budget will be used up completely. That includes the THB 120 - 180 billion which the government planned to recoup from rice sales. Only a month ago somegovernment offical mentioned THB 180 billion in G2G deals, but that seems to have shrunk to 20 billion only.

For 2013/2014 maybe less budget is required with zoning, cutting off some areas, etc., etc. and of course most of that budget will be covered by enormous G2G sales when finally all those foreigners start to recognize the true value of Thai rice and how much maturing it in warehouses improves it already amazing taste.

Now before I'm getting accused of singlehandedly having caused trememdous harm to the Thai economy and torpedo-ed it's GDP, let me correct a typo

Obviously the first sentence should have been "So, the THB 400 billion reserved somehow ..."

No Rubi you are OK. Waza thinks 1 percent is about the same as 12 percent of the GNP and OZ Mick thinks Thailand with half the pubic debt percent of the UK and Canada is doing a bad job at controlling public debt. It is impossible to argue reasonably with you fellows.

Obviously with a booming economy and THB 2.4 trilion 2012/2013 National Budget Thailand can afford to waste 200 out of a 400 billion budget, even if it's like the second year in a row. It's just taxpayers money, isn't it?

[cdnvic]

Some of you guys are trying to use your report buttons to win debates. Stop it or lose your posting rights for a considerable time.

The button is for serious violations, not "I disagree with this person".

[waza]

It is a good thing the industrial sector is growing at a rapid rate because the rice farmers are going to be out of a job next year. Since agriculture is 10% of the GDP but 40% of the labor force there has to be a shift.

That would require the government to say we got it wrong. Chance of that is between fat and no

No it would just require the continuance of the present trend of farmers moving from the farm to industrial centers. Check the figures this has been going on every year for the past 20 years. The government is doing their part by encouraging foreign investment as demonstrated by new mega factories by Ford and others.

As their farms are sold to foriegn companies to recover the easy debt they have been given them.

Edited March 14, 2013 by waza

[chiangmaikelly]

It is a good thing the industrial sector is growing at a rapid rate because the rice farmers are going to be out of a job next year. Since agriculture is 10% of the GDP but 40% of the labor force there has to be a shift.

That would require the government to say we got it wrong. Chance of that is between fat and no

No it would just require the continuance of the present trend of farmers moving from the farm to industrial centers. Check the figures this has been going on every year for the past 20 years. The government is doing their part by encouraging foreign investment as demonstrated by new mega factories by Ford and others.

As there farms are sold to foriegn companies to recover the easy debt they have been given them.

Since when can foreigners buy Thai land?

[Naam]

The government could also go bankrupt because of another year of
excessive spending via high subsidy costs, while it has to date earned
small returns from rice selling.

[chiangmaikelly]

The government could also go bankrupt because of another year of

excessive spending via high subsidy costs, while it has to date earned

small returns from rice selling.

Not everyone reads. Perhaps you should specify where you found those words of wisdom.

[waza]

hat would require the government to say we got it wrong. Chance of that is between fat and no

It is a good thing the industrial sector is growing at a rapid rate because the rice farmers are going to be out of a job next year. Since agriculture is 10% of the GDP but 40% of the labor force there has to be a shift.

No it would just require the continuance of the present trend of farmers moving from the farm to industrial centers. Check the figures this has been going on every year for the past 20 years. The government is doing their part by encouraging foreign investment as demonstrated by new mega factories by Ford and others.

As there farms are sold to foriegn companies to recover the easy debt they have been given them.

Since when can foreigners buy Thai land?

When Thakin sells it to his arab friends

[chiangmaikelly]

No it would just require the continuance of the present trend of farmers moving from the farm to industrial centers. Check the figures this has been going on every year for the past 20 years. The government is doing their part by encouraging foreign investment as demonstrated by new mega factories by Ford and others.

As there farms are sold to foriegn companies to recover the easy debt they have been given them.

Since when can foreigners buy Thai land?

When Thakin sells it to his arab friends

Link or delete.

[rubl]

The government could also go bankrupt because of another year of

excessive spending via high subsidy costs, while it has to date earned

small returns from rice selling.

Not everyone reads. Perhaps you should specify where you found those words of wisdom.

Well, would you believe it. That sentence is in the OP which of course not everyone reads

[OzMick]

The government could also go bankrupt because of another year of

excessive spending via high subsidy costs, while it has to date earned

small returns from rice selling.

Not everyone reads. Perhaps you should specify where you found those words of wisdom.

Some people don't even read the OP - from where the quote originated.

BTW note to moderators - when quoting the source is being often deleted, and posts from multiple authors being presented in one box. System error?

[chiangmaikelly]

Since when can foreigners buy Thai land?

When Thakin sells it to his arab friends

Link or delete.

Do your own research I am not your personal assistant and your not a mod

The law of Thailand has not changed Foreigners can not buy land in Thailand and you are wrong.

[waza]

hen Thakin sells it to his arab friends

Since when can foreigners buy Thai land?

Link or delete.

Do your own research I am not your personal assistant and your not a mod

The law of Thailand has not changed Foreigners can not buy land in Thailand and you are wrong.

cry me a river The other paper has a few articles on the subject which prove you are the one who is wrong as usual

Edited March 14, 2013 by waza

[A_Traveller]

^ Not the only answer but Board of Investment (BoI) is an answer.

[chiangmaikelly]

The law of Thailand has not changed Foreigners can not buy land in Thailand and you are wrong.

cry me a river The other paper has a few articles on the subject which prove you are the one who is wrong as usual

Another unverifiable claim to distract from the OP and topic.