Opposition To Impeach Thai Finance Minister Over Savings Fund

[webfact]

Opposition to impeach finance minister over savings fund
By Digital Media



BANGKOK, May 30 – The opposition Democrat Party is planning to impeach Finance Minister Kittiratt Na-Ranong for violating the law which requires the government to set up a National Savings Fund.

Democrat MP Korn Chatikavanij said Mr Kittiratt, concurrently also serving as deputy prime minister, failed to set up the fund within the 360-day deadline after an official announcement in the Royal Gazette in May last year which compels the government to form such a fund for elderly and retired people.

He said the National Savings Fund project has not materialised even after the deadline, adding that over 12 million elderly people have had their welfare ignored, which costs Bt114 billion due to the finance minister’s failure to take any action.

He said 125 Democrat MPs will endorse the impeachment and called on MPs from other political parties to join the move.

Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The law for a National Savings Fund was passed in the Abhisit Vejjajiva government.

Mr Kittiratt said there are several questions concerning the fund which need clarification. (MCOT online news)


-- TNA 2013-05-30

[GentlemanJim]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

[geriatrickid]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

[ratcatcher]

"He said the National Savings Fund project has not materialised even after the deadline, adding that over 12 million elderly people have had their welfare ignored, which costs Bt114 billion due to the finance minister’s failure to take any action."

"Bugger the old people, we need the money for more important projects."

[chainarong]

I think it was only the other day Miss Yingluck P.M. for the elderly people of Thailand , always with a caring smile,was blowing fruit into the wind about how Thailand was going to copy Japan's aged welfare programme , now how about that

[whybother]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

.

Is 15 months enough time to answer those questions?

National Savings Fund to be delayed: KIttiratt

WICHIT CHAITRONG

THE NATION February 25, 2012 1:00 am

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong conceded that the National Savings Fund would not be implemented in May as previously planned, however, he pledged to get it off the ground within this year.http://www.nationmultimedia.com/business/National-Savings-Fund-to-be-delayed-KIttiratt-30176663.html

[bigbamboo]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

There are legitimate questions about the sustainability of the rice pledging scheme too but that hasn't stopped PT from ploughing on regardless with that.

[Joe Mamma]

If America, with its enormous welfare fraud problems and huge burdening immigrant population sucking up the lions share, how would Thailand fare with it's historic graft and corruption on the same scale.? Maybe 10 cents on the dollar will go into the ones in needs pocket!

[Baerboxer]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

So the FM will be able to provide a detailed list of questions, research and actions carried out to date which have been progressing this; along with his explantion of why he failed, as the minister in charge to comply with the law. Should make interesting reading.

I guess another "white lie" or "honest mistake" could be in order. There again, the PM and FM don't comply with the law, so why should the FM be different?

[SICHONSTEVE]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

Oh come on!!!

He has done NOTHING after a year!!!

This idiot is completely incompetent and should not be in his position.

[rshoemake]

In addition to fraud by rank and file, the government will later raid it for funds just as what happened in the USA and leave bonds in their place.

[lupin]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

And of course the required request for extensions of the deadline for deliberating these questions were submitted .. right?

[khunken]

This is small potatoes to the high & mighty Kittirat. He's been far too busy scrapping with the BOT & the B2trn loan approval to concern himself with looking after people's savings.

He won't be impeached with the PTP members always being told what to do but it could make him look even more incompetent - not that that bothers the party.

[jbrain]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

But he has had 360 days to seek clarification, not ?

[howzat]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

Oh come on!!!

He has done NOTHING after a year!!!

This idiot is completely incompetent and should not be in his position.

Only a year. It took me 6 years to get Permanent Residency.

[SICHONSTEVE]

Well PTP as you keep trying to prove, the Law is the Law. You can't have it both ways.....................oooh maybe they can.

Be fair. There are some legitimate questions posed about the sustainability of the fund that the former government passed. Would you rather that the current government compound the problem?

The article touches upon the issue. Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The CSPF is apparently underfunded in respect to its obligations. This situation is common to many pension funds in the west where there is a real problem with pension funds not having enough money. I know that one of my pension funds is running a deficit. Perjhaps the former government has lost a bit of face?

Oh come on!!!

He has done NOTHING after a year!!!

This idiot is completely incompetent and should not be in his position.

Only a year. It took me 6 years to get Permanent Residency.

Thats relatively quick - I thought it was 10 years.

[Lite Beer]

Democrats move to impeach DPM Kittiratt

BANGKOK, 31 May 2013 (NNT) -- Democrat Party List Member of Parliament Korn Jatikavanich has submitted a petition signed by 131 Democrat MPs, to the Senate Speaker, Mr. Nikom Vairatchapanit, asking for an immediate removal of Deputy Prime Minister and Finance Minister Kittiratt Na Ranong.

Mr. Korn claimed that the minister has violated Article 270 of the Constitution by abusing his power to undermine the 2011 Act on the National Saving Fund. According to Mr. Korn, Mr. Kittiratt has failed to fulfill his duty as the Finance Minister indicated in Article 157 of the Criminal Code, by neglecting to establish a committee to manage the one-billion-baht National Saving Fund.

Mr. Korn said that by delaying the committee appointment, which was supposed to be done 2 years ago as declared to the Parliament, the minister has caused damages to the nation and its countrymen.

Mr. Nikom said upon accepting the petition that it would take him about 15 days to examine the validity of all names of supporters, after which the petition would be submitted to the National Anti Corruption Commission for consideration. If the NACC rules in favor of the petition, the Senate will then take action to impeach Mr. Kittiratt.

-- NNT 2013-05-31

[SICHONSTEVE]

Democrats move to impeach DPM Kittiratt

BANGKOK, 31 May 2013 (NNT) -- Democrat Party List Member of Parliament Korn Jatikavanich has submitted a petition signed by 131 Democrat MPs, to the Senate Speaker, Mr. Nikom Vairatchapanit, asking for an immediate removal of Deputy Prime Minister and Finance Minister Kittiratt Na Ranong.

Mr. Korn claimed that the minister has violated Article 270 of the Constitution by abusing his power to undermine the 2011 Act on the National Saving Fund. According to Mr. Korn, Mr. Kittiratt has failed to fulfill his duty as the Finance Minister indicated in Article 157 of the Criminal Code, by neglecting to establish a committee to manage the one-billion-baht National Saving Fund.

Mr. Korn said that by delaying the committee appointment, which was supposed to be done 2 years ago as declared to the Parliament, the minister has caused damages to the nation and its countrymen.

Mr. Nikom said upon accepting the petition that it would take him about 15 days to examine the validity of all names of supporters, after which the petition would be submitted to the National Anti Corruption Commission for consideration. If the NACC rules in favor of the petition, the Senate will then take action to impeach Mr. Kittiratt.

-- NNT 2013-05-31

Brilliant news!!! I hope the dope gets the push.

[indyuk]

"He said the National Savings Fund project has not materialised even after the deadline, adding that over 12 million elderly people have had their welfare ignored, which costs Bt114 billion due to the finance minister’s failure to take any action."

"Bugger the old people, we need the money for more important projects."

None of former Prime Abhisit's social programs gained traction because each of them is flawed. Examples; 1.The Government Loans program to reduce the dependance of the poor on illegal money lenders. The scheme sought interest payments of 12% which is virtual usuary further the plan lacked a methodology to prise borrowers away from the illegal mony lenders. 2. The Abhistit stimulation program pledging 2,000 Baht to every employed person ran out of funds. Similar story to most of his inititives. Edited June 3, 2013 by indyuk

[Thait Spot]

Kittirat should sack himself over the weak and falling baht

[Thait Spot]

"He said the National Savings Fund project has not materialised even after the deadline, adding that over 12 million elderly people have had their welfare ignored, which costs Bt114 billion due to the finance minister’s failure to take any action."

"Bugger the old people, we need the money for more important projects."

None of former Prime Abhisit's social programs gained traction because each of them is flawed. Examples; 1.The Government Loans program to reduce the dependance of the poor on illegal money lenders. The scheme sought interest payments of 12% which is virtual usuary further the plan lacked a methodology to prise borrowers away from the illegal mony lenders. 2. The Abhistit stimulation program pledging 2,000 Baht to every employed person ran out of funds. Similar story to most of his inititives.

Ah! But the Dems!

Ah! But the Dems!

Ah! But the Dems!

Ah! But the Dems!

Ah! But the Dems!

[Thait Spot]

Kittirat should sack himself over the weak and falling baht

30.50 today.

Its falling faster than a rice scam budget