Comptroller-General Short Of Funds To Pay For First-Car Buyer Rebates In April

[webfact]

Comptroller-General short of funds to pay for car rebates in April

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BANGKOK, 26 March 2013 (NNT) - Comptroller-General Manas Jamveha has revealed that the government does not have enough budget to pay those scheduled to receive their rebates under the government's first-car buyer scheme, for the month of April.

Mr. Manas said the Comptroller General's Department does not know where it could get the budget from as it does not have sufficient funds to pay for the rebates scheduled in April.

However, he said the department is looking to borrow money from other government agencies whose budgets have not been disbursed.

According to the Finance Ministry, the government set aside just over 7 billion baht for the rebates in 2556, but the Department has an obligation to pay up to 38 billion baht for the scheme.

The Comptroller General's Department has so far this year delivered nearly 7 billion baht worth of refunds to 99,000 buyers, leaving it with only 361 million baht, which is far less than what it needs in April to pay for refunds.

He further said the Department needed another 30 billion baht to fund the scheme this year. He also assured that the government will fulfill its obligations.


-- NNT 2013-03-26

[NeverSure]

I Know! Give the people the value in rice!

Oh wait. They don't have enough money to pay the farmers for the rice scheme fraud either.

Maybe they could take money for the car rebates and the rice scheme from the borrowed money for the flood control scheme fraud. It hasn't been spent on flood control. Surely it sits safely in the treasury.

What a house of cards Thailand is.

[jonclark]

Well that is good news. Every day under a PTP government seems to start with either a political U-turn; a sob story about lack of money / overspend in various depts; political backstabbing and in fighting that stinks of corruption, criminality, nepotism or stupidity (or combinations of).......Or a hub story!

At least our news is consistent.

Well done, another day starts with 'good news' from PTP led policies.

[bigbamboo]

"Keep your hands off of my stack."

[Bellweather]

Another failed populist policy and still the general public don't see how they are being conned

[padped]

I hope that mine gets paid ( not likely at this rate ) ...

[kimamey]

I'm sure the government will find the money but it needs to be quick. If you've got someone just coping with the repayments the rebate will be a big help and might be the difference between defaulting and just coping.

[phosphorescent]

Hands up who didn't see this coming! Looks like the reprobate............. I mean rebate scheme will just be another failure in an ever growing list of failed populist policies.

[Thaddeus]

I love the smell of napalm in the morning.

[cheeryble]

How much would my wife's granny have been rebated on a 420k car I rather fancy?

[moe666]

heheeh I am waiting for the repossesions to hit the market for a almost new car

[Halion]

Bring on the clowns, don;t bother there here.

[meatboy]

if they[mp's] all emptied thier pockets there would be more than enough to pay em all,and all those granny's that cant drive please stand up.

[reiltin]

FLEECED

The cheap cars,overpriced rice,free computers.A government with no moral hazard,sheep unaware how sharp the butchers knife.

[akampa]

Seems typical of this govenrment, implement a rebate scheme or what ever and not think further than how many votes they can get, well here is the result no money to pay back, peoples lives can get even harder with not enough income to pay the banks WHAT A BUNCH OF W@!#$#@!$@!ERS and incompetents these politician are, should get there salary deducted for every cock up they make!

[pinfold]

heheeh I am waiting for the repossesions to hit the market for a almost new car

Has already started. Ever look into the K bank adverts on Thai TV ,couple of years ago was "cash for cars" ,now "cars for cash" with a gold shop in view. The borrowers are not keeping up with payments obviously,what with supposedly price guarantee for rice farmers,and exports heavily down through the strong Baht equals disaster on a Cyprus scale ,coupled with a volatile population ,thoughts of the tin hat come to mind

[steelepulse]

Amazing with all these bad policies and yet the baht gets stronger. Is Europe and the rest of the world this bad off that the baht can get stronger with these failed and foolish policies?

[chainarong]

This plan has been thoroughly thought out, one must congratulate the idiots that worked on the percentage of car buyers , the people buying these cars need to realise if you needed government assistance in the first place you can't afford it, I may as well talk to the moon

[MaxLee]

Comptroller-General short of funds to pay for car rebates in April

File photo

the government does not have enough budget NEVER REALLY intended to pay those scheduled to receive their rebates under the government's first-car buyer scheme, for the month of April.

Dear voters, you have officially being ripped off....

[alant]

In a move to emulate the euro zone...

[kotsak]

Hub of blown up budgets..

[PhilipCook]

A house of cards and there is a gust of wind on the horizon

[draftvader]

Is anybody actually surprised? If it sounds too good to be true.......

[TallGuyJohninBKK]

Somebody missed their government budget projection by a pretty HUGE!!!! margin.

I hope a lot of delayed/deferred or never-to-arrive rebate buyers get REALLY mad.

[harber8]

The cash is in Dubai.

Or wherever that criminal is residing at present.

[Briggsy]

This sounds to me like an inter-departmental budget fight. I am sure everyone will get their refunds.

[mic6ard]

I know where you can get the funding from, the 2bn baht loan that the gov't is trying to get.

[NeverSure]

[up-country_sinclair]

This was an ill conceived plan, but I do think that the govt. will meet its obligation to the first time buyers. They may end up changing the payment schedule ( 20 K over 5 years, for example), but the funds will eventually be paid.

[sangfroid]

I Know! Give the people the value in rice!

Oh wait. They don't have enough money to pay the farmers for the rice scheme fraud either.

Maybe they could take money for the car rebates and the rice scheme from the borrowed money for the flood control scheme fraud. It hasn't been spent on flood control. Surely it sits safely in the treasury.

What a house of cards Thailand is.

They should just do what the broke Australian government is doing. Borrow $100million a day from the Chinese (not denied by the World's greatest treasurer)...Problem solved