BAAC credit-card scheme to be expanded to 4m farmers, with extra benefits

[Lite Beer]

FARMER CREDIT-CARD
BAAC credit-card scheme to be expanded to 4m farmers, with extra benefits
Suphannee Pootpitsut
The Nation

BANGKOK: -- The government plans to increase the number of credit cards issued to farmers to 4 million by September, broadening the range of farmers who can benefit from the scheme and including additional privileges for card users, such as yearly health check-ups, accident insurance and grocery purchases.

Deputy Finance Minister Thanusak Lekuthai yesterday said farmers' credit cards, which are issued by the Bank for Agriculture and Agricultural Cooperatives (BAAC), had until now been limited to rice farmers' purchases of necessities such as fertiliser, insecticide, seeds and oil.

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

Farmers using the credit cards will be exempted from interest for the first five months, while those participating in the rice-pledging scheme will benefit from a low interest rate of 1.5 per cent for their repayments.

The BAAC will also increase to 10,000 the number of shops participating in the project. Some 4,000 stores currently take part.

The new credit card will be officially announced on July 14 tomorrow during a mobile Cabinet meeting in Buri Ram, he added.

In addition, the government will sign a memorandum of understanding with the Social Security Office on cooperation with hospitals to provide health check-ups service to holders of the cards.

The issuance of 4 million cards is considered sufficient to cover all of the BAAC's customers, Thanusak said. Any new customers will immediately receive the credit card.

The bank also plans to increase the range of privileges even further, so that the credit card can be used for similar purposes to those issued by commercial banks.

-- The Nation 2013-07-13

[LuckyLew]

great scheme this is

give poor farmers new credit ... they can use it to pay off old credit

Is there an election around the corner? seems like vote buying going on

[Moruya]

great scheme this is

give poor farmers new credit ... they can use it to pay off old credit

Is there an election around the corner? seems like vote buying going on

This allows 4 million votes to be bought at the drop of a hat

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[OzMick]

Is this the B60 billion scheme that they were going to finance from the money saved by cutting the rice price to B12,000/ton?

[soi41]

You just have to love the timing! At the same time economic experts are warning, that public debt is spiraling out of control, this moronic government decides to give creditcards to 4m farmers, who historically have proven, they are not able to pay back a 100 baht loan!

[ramrod711]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

[waza]

and the debt mountain grows

[allan michaud]

Gotta love this line from Thailand's banksters.

"The bank also plans to increase the range of privileges even further, so that the credit card can be used for similar purposes to those issued by commercial banks."

I bet they do, more debt ridden plebs is just what banks want the world over.

[lawrence1366]

Shooting its own foot again. I guess "tomorrow is another day" for them. Mai pen rai.

[Payboy]

I hope the sick buffalo I'm always supporting can now get its minor ailments treated without foreign funds.

[Robby nz]

It also gives a political party at the next general election the opportunity to promise to wipe farmers credit card debt should they be elected.

A sure fire winner for the votes from 4 million farmers and their families.

Much better than 300b in the hand and it all comes from the tax payer, not a brass razoo from anyone personal stash.

[waza]

I wonder what the limits are on this card and debt and how it will be funded. 'Farmers using the credit cards will be exempted from interest for the first five months.......The issuance of 4 million cards is considered sufficient to cover all of the BAAC's customers, Thanusak said. Any new customers will immediately receive the credit card."

This should be a win win in the short term as the farmers will have access to credit without checks and balances and the government gets to boast about the boost in Thai GDP through domestic consumption. However, in the long term it will be a social, financial and political disaster.

Edited July 13, 2013 by waza

[scorecard]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

[bigbamboo]

At least someone in the PTP is switched on. Get the people to pay for your vote buying. Brilliant!

They should make him PM.

[MobileContent]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

Farmers also don't pay taces but they also don't have an income. All they do is harvest 1 - 2 times a year some rice so they have enough eat. The government offers farmers a credit card and now you tell us they get all kinds of benefits. What are those benefits if you would like to enlighten us a bit?

[OzMick]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

Ummm, I think there may be a mis-use of the term privileges to mean things you can use the card to buy. I doubt that "free" comes into it when they discuss yearly health check-ups, accident insurance and grocery purchases.

[Bosse137]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

Farmers also don't pay taces but they also don't have an income. All they do is harvest 1 - 2 times a year some rice so they have enough eat. The government offers farmers a credit card and now you tell us they get all kinds of benefits. What are those benefits if you would like to enlighten us a bit?

So you claim,that folks who are not farmers,have no rice to eat,because the farmers do not sell any,but eat it all by themselves.!By the way,a lot of rice to eat by one family,he,he!And how can they clear what they owe on the creditcard,if they have no income?! Think a little bit... Edited July 13, 2013 by Bosse137

[NongKhaiKid]

You just have to love the timing! At the same time economic experts are warning, that public debt is spiraling out of control, this moronic government decides to give creditcards to 4m farmers, who historically have proven, they are not able to pay back a 100 baht loan!

Great move, get 4 million more farmers and their dependents locked even more into the viscous cycle of credit and at all relevant times assure them it's only their friendly neighbourhood PTP government that will help.

[NongKhaiKid]

At least someone in the PTP is switched on. Get the people to pay for your vote buying. Brilliant!

They should make him PM.

Maybe he was once and next time make it President.

[NongKhaiKid]

I hope the sick buffalo I'm always supporting can now get its minor ailments treated without foreign funds.

Be careful, you could become surplus to requirements !

[AyG]

How dare you people criticise the policies of the multibillionaire criminal living in exile in Dubai! He is completely in touch with the needs of the country's farmers and knows exactly what is best for them. He knows that giving them credit cards is just the right thing to do.

[Payboy]

I hope the sick buffalo I'm always supporting can now get its minor ailments treated without foreign funds.

Be careful, you could become surplus to requirements !

Plastic makes the cash cow obsolete.

[Ricardo]

BAAC is already having problems, due to the government being worryingly slow to reimburse money handed-out under the rice-scam, now they can afford to take on 4 million credit-cards' worth of bad/doubtful-debts, as well ?

[NongKhaiKid]

I hope the sick buffalo I'm always supporting can now get its minor ailments treated without foreign funds.

Be careful, you could become surplus to requirements !

Plastic makes the cash cow obsolete.

Nice One but where's the ATM in the middle of a rice paddy ? Maybe you are still needed.

[Payboy]

I hope the sick buffalo I'm always supporting can now get its minor ailments treated without foreign funds.

Be careful, you could become surplus to requirements !

Plastic makes the cash cow obsolete.

Nice One but where's the ATM in the middle of a rice paddy ? Maybe you are still needed.

Gee thanks NKK, I'm gonna get away from that balcony railing now.

[scorecard]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

Farmers also don't pay taces but they also don't have an income. All they do is harvest 1 - 2 times a year some rice so they have enough eat. The government offers farmers a credit card and now you tell us they get all kinds of benefits. What are those benefits if you would like to enlighten us a bit?

Very simple example, they use roads, paid for by taxes. If their vehicle (repeat if) is registered (road tax) then they are contributing something which you could labeled as a tax, but the reality is that the vast majority of the funds to build roads and bridges, maintenance of the same etc., is way way above the road tax contributions and comes from general taxation.

I mentioned 'if'. The reality is that plenty of farmers (and others too of course) drive vehicles on the public roads which have registration plates (and some don't have reg. plates) but they haven't paid road tax for years. They sometimes get stopped by the police who check reg. stickers. Not current, we all know what happens next...

[spirit47]

Very Smart, first they happy, then they make dept they can not pay back. Then they must sell their land and rent it back, or give up.

The small farmers give up and the fields going larger and larger...

The same that happen in USA and Europe. It's a ugly game...

[jbrain]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

Ummm, I think there may be a mis-use of the term privileges to mean things you can use the card to buy. I doubt that "free" comes into it when they discuss yearly health check-ups, accident insurance and grocery purchases.

In my book credit that they are not able to pay back translates to free money.

[Thai at Heart]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

Farmers also don't pay taces but they also don't have an income. All they do is harvest 1 - 2 times a year some rice so they have enough eat. The government offers farmers a credit card and now you tell us they get all kinds of benefits. What are those benefits if you would like to enlighten us a bit?

The government would actually love it right now if the farmers could east all their rice crop. It just however probably be humanly impossible.

What do you mean they have no income. What do they get paid with? Fresh air?

[Thai at Heart]

Privileges under the cards are being expanded to annual health check-ups, accident insurance and the purchase of grocery items, while farmers of field crops other than rice, horticultural farmers and fishermen will now also be able to benefit, he said.

As a public service i would like to point out that they forgot first car payments.

Something way out of balance here, under the scheme the typical factory worker, the typical basic office worker, the factory supervisor, the motor cycle taxi driver don't get free annual health check ups, etc.

A very very unfair scenario, the farmers etc., pay no taxes, but get all sorts of benefits, which must be paid for - by taxpayers, may of whom have just enough resources (after tax) to get just above the survival line an hope they don't get sick, etc. The factory supervisor could be an example.

Farmers also don't pay taces but they also don't have an income. All they do is harvest 1 - 2 times a year some rice so they have enough eat. The government offers farmers a credit card and now you tell us they get all kinds of benefits. What are those benefits if you would like to enlighten us a bit?

Very simple example, they use roads, paid for by taxes. If their vehicle (repeat if) is registered (road tax) then they are contributing something which you could labeled as a tax, but the reality is that the vast majority of the funds to build roads and bridges, maintenance of the same etc., is way way above the road tax contributions and comes from general taxation.

I mentioned 'if'. The reality is that plenty of farmers (and others too of course) drive vehicles on the public roads which have registration plates (and some don't have reg. plates) but they haven't paid road tax for years. They sometimes get stopped by the police who check reg. stickers. Not current, we all know what happens next...

If they had to pay for the water they use during production, none of them would ever grow rice again.