Thai Govt Rebuts Rice Report

[animatic]

"The figures can be finalised only three years after the end of the pledging scheme this September."

Utter poppycock, bilge water, spurious obsfucation and.. Oh Yeah B.S.

3 years, HA! This guy gets a prize even by Thai politicians standards

for gilding a dead daisy and calling it a lily.

[ratcatcher]

Kittiratt: 260-billion-baht losses not entirely incurred by rice pledging scheme

BANGKOK, 7 June 2013 (NNT) - Deputy Prime Minister for Economic Affairs Kittiratt Na-Ranong has explained that the earlier reported losses of 260 billion baht caused by the rice pledging scheme were made up of figures from various crop mortgage programs.

Mr Kittiratt on Friday said the 260-billion-baht losses had been accumulated for many years across the board of many crop mortgage programs. As for budget of the rice pledging scheme for the 2011/2012 crop year, the minister said he still could not disclose if the budget spent had exceeded the set amount of 500 billion baht. He only said that the Cabinet had earlier authorized the Ministry of Finance to increase the budget and finance the scheme with money from other sources.

The Deputy Prime Minister has instructed the Fiscal Policy Office to clarify the matter to Moody’s after the agency announced to downgrade Thailand due to financial damages allegedly caused by the controversial rice pledging scheme.

-- NNT 2013-06-08

He is busy trying to figure out which lie to tell.

"the earlier reported losses of 260 billion baht caused by the rice pledging scheme were made up......."

Said with a straight face.

[khunken]

One would think that PTP has never heard of accountants or auditors.

They are sounding like Rumsfeld with their known unknowns & unknown knowns.

The Commerce Minister is now vying with Chalerm & Kittirat in lying & Plodprasop in incompetence. Thaksin certainly knows how to pick them.

Meanwhile the country's taxpayers get screwed.

[SOTIRIOS]

.......the scheme......the money...were never, ever, meant for the farmers, silly.........

[tominbkk]

Where are our PTP/Red/Thaksin apologists ready with their excuses and support? Awfully quiet these days. Haha.

[gobi]

These dumbos know EXACTLY what 5hey are doing. Propping up figures to get loans for projects run by cronies and relatives so 65 percent goes back to THEM. Not fools at all. Master thieves

Sent from my GT-N7000B using Thaivisa Connect Thailand mobile app

Keep this up and the official corruption rate (aka the hearsay corruption rate) will be up in the 90% range anytime now, time for the hyperbole meter to be turned down, one thinks.

[Noistar]

Where are our PTP/Red/Thaksin apologists ready with their excuses and support? Awfully quiet these days. Haha.

Abhisit, the army, democracy, blah, blah, blah - will that do for now

[scorecard]

One would think that PTP has never heard of accountants or auditors.

They are sounding like Rumsfeld with their known unknowns & unknown knowns.

The Commerce Minister is now vying with Chalerm & Kittirat in lying & Plodprasop in incompetence. Thaksin certainly knows how to pick them.

Meanwhile the country's taxpayers get screwed.

And Thailand goes backwards.

[ratcatcher]

i imagine this man's office is full of 'dads army like' characters running round in circles screaming 'Doomed, we're all doomed, we're doomed' in scottish accents.

It would seem that way.

[GentlemanJim]

I don't even know where to put this as it applies to 90% of the current news items. Is it just me or have the news headlines in the last 24 hrs been totally demoralising and depressing? It is simply non-stop, corruption, deceit, lies, plotting, robbing, scheming, treachery and treason.

My wife is really excited as all this has got me sending emails to estate agents for properties in New Zealand. As soon as the Baht goes boing and I can make a mint on it's collapse then I feel I am off the sinking ship.

[Thai at Heart]

Kittiratt: 260-billion-baht losses not entirely incurred by rice pledging scheme

BANGKOK, 7 June 2013 (NNT) - Deputy Prime Minister for Economic Affairs Kittiratt Na-Ranong has explained that the earlier reported losses of 260 billion baht caused by the rice pledging scheme were made up of figures from various crop mortgage programs.

Mr Kittiratt on Friday said the 260-billion-baht losses had been accumulated for many years across the board of many crop mortgage programs. As for budget of the rice pledging scheme for the 2011/2012 crop year, the minister said he still could not disclose if the budget spent had exceeded the set amount of 500 billion baht. He only said that the Cabinet had earlier authorized the Ministry of Finance to increase the budget and finance the scheme with money from other sources.

The Deputy Prime Minister has instructed the Fiscal Policy Office to clarify the matter to Moodys after the agency announced to downgrade Thailand due to financial damages allegedly caused by the controversial rice pledging scheme.

-- NNT 2013-06-08

Aha. It's all the crops, not just ptp. Plausible enough.

[worgeordie]

Maybe they can get a loan from Wonga.com to cover the losses !, We the Farang seem more

interested in what the government gets up to than the average Thai on the street,or should

I say countryside.

This is a great business model, you cannot sell the product, but continue to buy more at inflated

prices,Taksinomics at its finest. but I suppose its ok to do this as its not your money,and they

know Thais very soon forgive and forget.

regards Worgeordie

[HiSoLowSoNoSo]

I don't even know where to put this as it applies to 90% of the current news items. Is it just me or have the news headlines in the last 24 hrs been totally demoralising and depressing? It is simply non-stop, corruption, deceit, lies, plotting, robbing, scheming, treachery and treason.

My wife is really excited as all this has got me sending emails to estate agents for properties in New Zealand. As soon as the Baht goes boing and I can make a mint on it's collapse then I feel I am off the sinking ship.

Think it been demoralizing since Phua Thai "won" the election. I feel sorry for the youth of this once beautiful country.

[bigbamboo]

I do love to see no good politicians squirm!

[espinoza]

I am astounded, seems the losses wont be know till well after this governments term. But nothing to worry about.

The figures can be finalised only three years after the end of the pledging scheme this September.

And he thinks Moody's are going to eat this? They gave an estimated loss in January, but now they can't?

But it`s nothing ton worry about. I love it, maybe the thai baht goes down where it should be.

[mikemac]

Whenever I read the words Amazing Thailand I think the most amazing thing is that this pathetic excuse for a government got into power in the first place, and the fact that it has not experienced self destruction yet, and that there are actually farangs out there who support this pack of losers. Unless of course they are all trolls.

I spoke to a Thai guy based in Sydney the other day who works for a company that transfers money from Australia to Asia, mainly Thailand I think. He said if I was thinking about sending any large sums of money to Thailand in the near future to hold off for a while as it is only a matter of time before the baht crashes thanks to PTP.

[StefanBBK]

A report from the committee said the government spent Bt661.224 billion

to buy rice in the 2011-2012 and 2012-2013 harvest years.

Remaining rice in the state’s stockpiles is worth Bt226 billion.

(spent)Bt661.224 - (Worth)Bt226 = Bt335.224 Billion.

Is this not the number everybody is asking for?

I can now understand why they are having so much with this complex accounting.

You also need to include income from rice that has been sold .... But they can't tell you that cos it's a secret.

Sent from my shoe phone.

You are right, sorry.

The ministry added that the government had already earned Bt120 billion from release of rice stocks.

(spent)Bt661.224 - (Worth)Bt226 + (sold)Bt120 = Bt335.224 Billion. Bt215.224.

Plus finance and loan fees and warehousing/storage and spoilage loss. The Bt260 billion loss is right in the ballpark.

This is really simple. Thank you. I hope everyone gets it.

Now we just need to keep an eye on the Bt226Bn stockpiled. The value should go down with time / shrinkage/ loss in storage. Also (future) storage costs need to be added. At the same time I guess it was financed with some credits, so include the interest.

Not to forget that dumping huge quantities of rice on the market will reduce the price.

All in all 260Bn sounds rightish.

Rice in Lotus/Big C etc. is still more expensive than a couple years back.

[xylophone]

I don't even know where to put this as it applies to 90% of the current news items. Is it just me or have the news headlines in the last 24 hrs been totally demoralising and depressing? It is simply non-stop, corruption, deceit, lies, plotting, robbing, scheming, treachery and treason.

My wife is really excited as all this has got me sending emails to estate agents for properties in New Zealand. As soon as the Baht goes boing and I can make a mint on it's collapse then I feel I am off the sinking ship.

Wouldn't get too excited GJ as house prices in NZ are on the rise and really haven't been affected by the GFC!! I couldn't afford to go back there now so am doomed to reside in country whose Governmant can best be described as corrupt, incompetent buffoons!!

[slapout]

I am awaiting the promised full accounting by Boonsong tomorrow 6/11/2013 and his henchmen. It will be interesting to see what numbers they use for storage this time. The man may also want to check his figure of 14 to 15 million households gained from this program.

Bank of Ag says they show 25 million tons of rice added to existing stocks, up to 2013, via purchase of 40 million ton of paddy.

The ag bank also reported a few months ago they had less than 4 million farmers signed up for the program.

No one has mentioned grade of rice in storage, price is determined by grade, how much paddy is awaiting milling, it goes bad quickly (3 months) the percent of broken gains in milling process, Cost for milling, who gets by product (bran, broken grains, etc) what is total cost per month for rice storage, fumingation, handling, etc? so many answers for so many questions.expected shortly.

[smedly]

I am awaiting the promised full accounting by Boonsong tomorrow 6/11/2013 and his henchmen. It will be interesting to see what numbers they use for storage this time. The man may also want to check his figure of 14 to 15 million households gained from this program.

Bank of Ag says they show 25 million tons of rice added to existing stocks, up to 2013, via purchase of 40 million ton of paddy.

The ag bank also reported a few months ago they had less than 4 million farmers signed up for the program.

No one has mentioned grade of rice in storage, price is determined by grade, how much paddy is awaiting milling, it goes bad quickly (3 months) the percent of broken gains in milling process, Cost for milling, who gets by product (bran, broken grains, etc) what is total cost per month for rice storage, fumingation, handling, etc? so many answers for so many questions.expected shortly.

I thought he gave his answer last week - that he couldn't calculate the financial status of the rice scheme until all stocks had been sold and the scheme was finished - then wait a further 3 years for the results - must be counting it by the grain

They will never give accurate account of this debacle and I'd say no accurate accounts have been kept simply because TS and other government officials have been filling their pockets with billions, TS by now will have recovered most of his confiscated wealth or at least a good part of it

I've been saying this for ages - some day the truth will be revealed about this government and just how much money they stole from the tax payer - it will be the largest scam in Thai history by a country mile, all those responsible will be living it up in Dubai - mark my words

[Thai at Heart]

I am awaiting the promised full accounting by Boonsong tomorrow 6/11/2013 and his henchmen. It will be interesting to see what numbers they use for storage this time. The man may also want to check his figure of 14 to 15 million households gained from this program.

Bank of Ag says they show 25 million tons of rice added to existing stocks, up to 2013, via purchase of 40 million ton of paddy.

The ag bank also reported a few months ago they had less than 4 million farmers signed up for the program.

No one has mentioned grade of rice in storage, price is determined by grade, how much paddy is awaiting milling, it goes bad quickly (3 months) the percent of broken gains in milling process, Cost for milling, who gets by product (bran, broken grains, etc) what is total cost per month for rice storage, fumingation, handling, etc? so many answers for so many questions.expected shortly.

I thought he gave his answer last week - that he couldn't calculate the financial status of the rice scheme until all stocks had been sold and the scheme was finished - then wait a further 3 years for the results - must be counting it by the grain

They will never give accurate account of this debacle and I'd say no accurate accounts have been kept simply because TS and other government officials have been filling their pockets with billions, TS by now will have recovered most of his confiscated wealth or at least a good part of it

I've been saying this for ages - some day the truth will be revealed about this government and just how much money they stole from the tax payer - it will be the largest scam in Thai history by a country mile, all those responsible will be living it up in Dubai - mark my words

The problem is, if they don't come up with a plausible number, Moody's will be on their case.

It's a bitch being a borrower.

[OzMick]

I am awaiting the promised full accounting by Boonsong tomorrow 6/11/2013 and his henchmen. It will be interesting to see what numbers they use for storage this time. The man may also want to check his figure of 14 to 15 million households gained from this program.

Bank of Ag says they show 25 million tons of rice added to existing stocks, up to 2013, via purchase of 40 million ton of paddy.

The ag bank also reported a few months ago they had less than 4 million farmers signed up for the program.

No one has mentioned grade of rice in storage, price is determined by grade, how much paddy is awaiting milling, it goes bad quickly (3 months) the percent of broken gains in milling process, Cost for milling, who gets by product (bran, broken grains, etc) what is total cost per month for rice storage, fumingation, handling, etc? so many answers for so many questions.expected shortly.

"so many answers for so many questions.expected shortly."

Or not.

[rubl]

It would seem the government may have found a way which unfortunately will prevent make it difficult for Commerce Minister Boonsong Teriyapirom to come with the right figures. Allegedly that is . Mind you the PM Office Minister Varathep Rattanakorn seems to be compiling numbers at the moment and he (she?) is still at it.

No PM's comment on Cabinet reshuffle
The Nation

BANGKOK: -- Prime Minister Yingluck Shinawatra declined to comment whether Commerce Minister Boonsong Teriyapirom would be included in the new list of ministers.

Boonsong is expected to lose his job following the reported huge loss of the rice-pledging scheme.

Asked to confirm this, Yingluck said "I’d rather keep quiet on this". She noted that much of the issue at hand depends on the compilation of the loss figures from PM’s Office Minister Varathep Rattanakorn.


-- The Nation 2013-06-12

[waza]

According to statistics from the Bank for Agriculture and Agricultural Co-operatives (BAAC) in the central province of Ayutthaya, there are some 32,000 registered farmers. link

If we accept that the government has spent 660 billion baht on the rice scam as reported ( http://www.pressdisplay.com/pressdisplay/viewer.aspx) then this government has spent 20,625,000 per farmer. No wonder they are very happy with this scam as it has made each and every one of the multimillionaires

Edited June 12, 2013 by waza

[Robby nz]

Posted Today, 16:56

It would seem the government may have found a way which unfortunately will prevent make it difficult for Commerce Minister Boonsong Teriyapirom to come with the right figures. Allegedly that is . Mind you the PM Office Minister Varathep Rattanakorn seems to be compiling numbers at the moment and he (she?) is still at it.

No PM's comment on Cabinet reshuffle

The Nation

BANGKOK: -- Prime Minister Yingluck Shinawatra declined to comment whether Commerce Minister Boonsong Teriyapirom would be included in the new list of ministers.

Boonsong is expected to lose his job following the reported huge loss of the rice-pledging scheme.

Asked to confirm this, Yingluck said "I’d rather keep quiet on this". She noted that much of the issue at hand depends on the compilation of the loss figures from PM’s Office Minister Varathep Rattanakorn.

That will be the cabinet reshuffle Yingluck said was not going to happen, right?

[Thai at Heart]

According to statistics from the Bank for Agriculture and Agricultural Co-operatives (BAAC) in the central province of Ayutthaya, there are some 32,000 registered farmers. link

If we accept that the government has spent 660 billion baht on the rice scam as reported ( http://www.pressdisplay.com/pressdisplay/viewer.aspx) then this government has spent 20,625,000 per farmer. No wonder they are very happy with this scam as it has made each and every one of the multimillionaires

Not all farmers register with the baac.

[OzMick]

According to statistics from the Bank for Agriculture and Agricultural Co-operatives (BAAC) in the central province of Ayutthaya, there are some 32,000 registered farmers. link

If we accept that the government has spent 660 billion baht on the rice scam as reported ( http://www.pressdisplay.com/pressdisplay/viewer.aspx) then this government has spent 20,625,000 per farmer. No wonder they are very happy with this scam as it has made each and every one of the multimillionaires

Not all farmers register with the baac.

Why bother, when the BAAC admits it is very short on money due to government accrued debt?

[waza]

According to statistics from the Bank for Agriculture and Agricultural Co-operatives (BAAC) in the central province of Ayutthaya, there are some 32,000 registered farmers. link

If we accept that the government has spent 660 billion baht on the rice scam as reported ( http://www.pressdisplay.com/pressdisplay/viewer.aspx) then this government has spent 20,625,000 per farmer. No wonder they are very happy with this scam as it has made each and every one of the multimillionaires

Not all farmers register with the baac.

About 17 million Thais, or 3.7 million out of 5.6 farm families in the country, are engaged in rice farming. http://ijimt.org/papers/334-CM327.pdf

Most are labourers.

[longway]

Posted Today, 16:56

It would seem the government may have found a way which unfortunately will prevent make it difficult for Commerce Minister Boonsong Teriyapirom to come with the right figures. Allegedly that is . Mind you the PM Office Minister Varathep Rattanakorn seems to be compiling numbers at the moment and he (she?) is still at it.

No PM's comment on Cabinet reshuffle

The Nation

BANGKOK: -- Prime Minister Yingluck Shinawatra declined to comment whether Commerce Minister Boonsong Teriyapirom would be included in the new list of ministers.

Boonsong is expected to lose his job following the reported huge loss of the rice-pledging scheme.

Asked to confirm this, Yingluck said "I’d rather keep quiet on this". She noted that much of the issue at hand depends on the compilation of the loss figures from PM’s Office Minister Varathep Rattanakorn.

That will be the cabinet reshuffle Yingluck said was not going to happen, right?

If Jatuporn ever makes cabinet, we will know that the PTP have hit rock bottom.

[Mosha]

Posted Today, 16:56

It would seem the government may have found a way which unfortunately will prevent make it difficult for Commerce Minister Boonsong Teriyapirom to come with the right figures. Allegedly that is . Mind you the PM Office Minister Varathep Rattanakorn seems to be compiling numbers at the moment and he (she?) is still at it.

No PM's comment on Cabinet reshuffle

The Nation

BANGKOK: -- Prime Minister Yingluck Shinawatra declined to comment whether Commerce Minister Boonsong Teriyapirom would be included in the new list of ministers.

Boonsong is expected to lose his job following the reported huge loss of the rice-pledging scheme.

Asked to confirm this, Yingluck said "I’d rather keep quiet on this". She noted that much of the issue at hand depends on the compilation of the loss figures from PM’s Office Minister Varathep Rattanakorn.

That will be the cabinet reshuffle Yingluck said was not going to happen, right?

...and the fall hut is already lined up to carry the can. Despite it being someone else idea.