Thai Finance Ministry assures farmers overdue payments will be made

[webfact]

Finance Ministry assures farmers overdue payments will be made
By Digital Content



BANGKOK, Feb 8 – The Finance Ministry has prepared a plan to secure loans for Bt130 billion overdue payments to farmers from the rice pledging scheme but it would be kept confidential, a senior ministry official said.

Rangsan Srivorasart, Permanent Secretary for Finance, said he would not disclose the plan for fear of obstruction by political opponents, adding that all commercial banks sympathised with the farmers and would be willing to assist, but without affecting their businesses.

There are several options in finding financial sources including borrowing through normal channels, he said, adding that it was rather impossible for commercial banks to offer a double-digit interest for loans as widely reported.

The Finance Ministry complex was reopened under tight security this morning after being blockaded by anti-government protesters since Jan 13.

Mr Rangsan said the closure has delayed the ministry’s services, especially tax refunds to the public, but budget reimbursements at less than Bt1 billion were not disrupted. (MCOT online news)


-- TNA 2014-02-08

[TVGerry]

More lies from the Shinawatras. From rice sales to China which were never made to phantom loans to 'pay' back the farmers. You said you got the loans? Great! When will the farmers be paid then? Are your promises to pay the farmers as reliable as Chalerm's promise to behead himself? Just go quietly. You guys have just 2 months left.

[Thailand]

More lies from the Shinawatras. From rice sales to China which were never made to phantom loans to 'pay' back the farmers. You said you got the loans? Great! When will the farmers be paid then? Are your promises to pay the farmers as reliable as Chalerm's promise to behead himself? Just go quietly. You guys have just 2 months left.

I don't think they are going to reply to you as they are concerned about having the loans blocked by pressure from Suthep and his powerful friends again.

The crazy old coot is even trying to set up with an alliance with the very people he has been using as tools against the caretaker government.

[webfact]

'We will find the money'
Suphannee Pootpisut
The Nation


Farmers in Kamphaeng Phet hold up placards with messages blaming Suthep

BANGKOK: -- The Finance Ministry says it will continue finding funds to pay farmers under the rice-pledging scheme but will keep it methods quiet for fear protesters striving to overthrow the regime will try to block them.

The Finance Ministry's permanent secretary Rangsan Sriworasart said yesterday that there were many lawful ways to secure funds for the scheme.

However, he declined to provide examples.

"The Finance Minister [Kittiratt Na-Ranong] is trying to do so [find funding] quickly," he said. "But we can't reveal what channel it should be. Otherwise, the anti-government protesters will block what we do."

Rangsan said the Commerce Ministry would accelerate the sale of rice from the stockpiles as quickly as possible so farmers could be paid.

In the meantime, he said the Finance Ministry would try to secure more funds.

There are 14 million tonnes of rice in the state's inventory.

The paddy pledged by the government under the scheme from crops between October 2013 and this month totalled some 10 million tonnes worth Bt177 billion.

Of that, about Bt60 billion has gone to farmers.

Rangsan said that while the ministry had so far failed to get a Bt20-billion bridging loan tender put out to commercial banks, borrowing via this channel was still an alternative.

He said the staging of another loan tender was dependent on the situation.

The Finance Ministry was reopened yesterday after being closed for 2weeks.


-- The Nation 2014-02-08

[LuckyLew]

the term "will not disclose" in PTP speak means "we have no clue what we are talking about, hope you believe our BS and go home"

[Robby nz]

More lies from the Shinawatras. From rice sales to China which were never made to phantom loans to 'pay' back the farmers. You said you got the loans? Great! When will the farmers be paid then? Are your promises to pay the farmers as reliable as Chalerm's promise to behead himself? Just go quietly. You guys have just 2 months left.

I don't think they are going to reply to you as they are concerned about having the loans blocked by pressure from Suthep and his powerful friends again.

The crazy old coot is even trying to set up with an alliance with the very people he has been using as tools against the caretaker government.

Once again a red leaps in with blame Suthep.

What has he got to do with the banks rejecting the loans because of legal implications ?

Why didn't the minister of white lies make provision for the payments which he must have known would be due, before the house was dissolved, incompetence or just don't give a stuff for the farmers, take your choice.

Guarantee there has been no problem with him getting his salary.

[Robby nz]

Rangsan said that while the ministry had so far failed to get a Bt20-billion bridging loan tender put out to commercial banks, borrowing via this channel was still an alternative.

He failed to mention that the second auction that was supposed to be held on Tuesday to raise another 40 billion was cancelled, "Because of lingering uncertainty"

[howzat]

Slimy smile from a slimy looking finance minister, the guy in the background looks shifty and his eyes are too close together for my liking but the girl is very pretty so she has my vote!!

[onlycw]

...When?!??

A private company's directors would go to jail when they continue "buying" stuff knowing damn well they wouldn't be able to pay.

In addition, the taxpayers now have 18 million tons of rice according to an article in the British newspaper Telegraph.

Perishable goods, a declining asset. And do they sell the rice?

Ask a 1st semester student of economics if a subsidy would be expensive when the government pays almost double the market price.

Doubling the national debt in the last 10 years has been a great "success". What next? An official default? Are ministers looking at Argentina to get their ideas?

Thai children will be paying the price. And they haven't got any lobby

[NongKhaiKid]

Maybe their hoping that the young lady who may go into space will find a race willing to buy rice and extended loans.

[scorecard]

More lies from the Shinawatras. From rice sales to China which were never made to phantom loans to 'pay' back the farmers. You said you got the loans? Great! When will the farmers be paid then? Are your promises to pay the farmers as reliable as Chalerm's promise to behead himself? Just go quietly. You guys have just 2 months left.

Another example of pt totally lacking in transparency.

On this matter and any matter the public has a fundamental right to know.

The arrogance is just staggering.

[Crushdepth]

More lies from the Shinawatras. From rice sales to China which were never made to phantom loans to 'pay' back the farmers. You said you got the loans? Great! When will the farmers be paid then? Are your promises to pay the farmers as reliable as Chalerm's promise to behead himself? Just go quietly. You guys have just 2 months left.

I don't think they are going to reply to you as they are concerned about having the loans blocked by pressure from Suthep and his powerful friends again.

The crazy old coot is even trying to set up with an alliance with the very people he has been using as tools against the caretaker government.

Suthep does not need to lobby the banks (though he has certainly tried). They won't pour money into a scheme that is financially unsustainable and a pit of corruption.

The government has been using farmers as political pawns for years, in case it has escaped your notice. Too bad they didn't care to pay them after taking their crop off their hands.

[brimacthai]

I bet he's still getting his pay check.

[smedly]

There are 14 million tonnes of rice in the state's inventory.

The paddy pledged by the government under the scheme from crops between October 2013 and this month totalled some 10 million tonnes worth Bt177 billion.

Now I am confused again - so does the above statement mean there are now 24 million tonnes of rice worth approx. Bt177 + Bt240 = Bt 417 billion and the government still owes the farmers 130 billion baht which would bring the total spend to about 900 billion so there's some Bt500 billion missing somewhere or is the total now 14 million tonnes including the 10 million tonnes which would mean there's about Bt700 billion missing give or take a few billion

[Rich teacher]

Once again a red leaps in with blame Suthep.

What has he got to do with the banks rejecting the loans because of legal implications ?

Why didn't the minister of white lies make provision for the payments which he must have known would be due, before the house was dissolved, incompetence or just don't give a stuff for the farmers, take your choice.

Guarantee there has been no problem with him getting his salary.

Looks like these farmers are also blaming Suthep.

"Suthep don't use farmers for political gain"

[noikrit]

Sounds just like an old broken record player ......

[Halion]

The bullshit from these beleaguered blowhards never stops. Not one ounce of integrity among the lot of them.

[MaxLee]

Finance Ministry assures farmers overdue payments will be made

Another BLACK LIE... Go rob the Finance Ministry, farmers, you have the power....!!!

[klauskunkel]

'We will find the money'

I know where it is!

[Tatsujin]

There are 14 million tonnes of rice in the state's inventory.

The paddy pledged by the government under the scheme from crops between October 2013 and this month totalled some 10 million tonnes worth Bt177 billion.

Now I am confused again - so does the above statement mean there are now 24 million tonnes of rice worth approx. Bt177 + Bt240 = Bt 417 billion and the government still owes the farmers 130 billion baht which would bring the total spend to about 900 billion so there's some Bt500 billion missing somewhere or is the total now 14 million tonnes including the 10 million tonnes which would mean there's about Bt700 billion missing give or take a few billion

By the time this all finishes, the actual losses (not the guesses the Govt are making constantly) will equal almost exactly the amount Thaksin had confiscated and now has had some of which returned (allegedly). If they could return the money to Thaksin, perhaps they could have used that money to pay the farmers?

[Bakseeda]

More lies from the Shinawatras. From rice sales to China which were never made to phantom loans to 'pay' back the farmers. You said you got the loans? Great! When will the farmers be paid then? Are your promises to pay the farmers as reliable as Chalerm's promise to behead himself? Just go quietly. You guys have just 2 months left.

I don't think they are going to reply to you as they are concerned about having the loans blocked by pressure from Suthep and his powerful friends again.

The crazy old coot is even trying to set up with an alliance with the very people he has been using as tools against the caretaker government.

He may be a lot of things but "crazy" is not one of them...

[MGP]

"The Finance Ministry has prepared a plan to secure loans for Bt130 billion overdue payments to farmers from the rice pledging scheme but it would be kept confidential, a senior ministry official said."

"it would be kept confidential"

Transparency, precisely, is one of the aims of Reform Before Election. Against corruption, cheating, bribery, and abuse of power

Edited February 8, 2014 by MGP

[Ricardo]

I heard a rumour, that PTP's latest plan is to raise the money to pay their debts to the farmers/millers, by auctioning-off a million tons of snake-oil, in a room full of smoke-and-mirrors.

But I suspect it's just another 'white-lie', so that people stop worrying, and killing themselves over the government's defaulting on what they owe.

[Crushdepth]

"The Finance Ministry has prepared a plan to secure loans for Bt130 billion overdue payments to farmers from the rice pledging scheme but it would be kept confidential, a senior ministry official said."

"it would be kept confidential"

Transparency, precisely, is one of the aims of Reform Before Election. Against corruption, cheating, bribery, and abuse of power

Confidential, like the G2G sales that didn't exist? There's only so many times they can say 'trust us'.

[Robby nz]

'We will find the money'

Suphannee Pootpisut

The Nation

Farmers in Kamphaeng Phet hold up placards with messages blaming Suthep

BANGKOK: -- The Finance Ministry says it will continue finding funds to pay farmers under the rice-pledging scheme but will keep it methods quiet for fear protesters striving

It seems Thida was right, there are false farmers out there.

The reds have infiltrated with their BS.

The farmers who are blocking the roads and protesting at the commerce ministry know whose fault non payment is.

Edited February 8, 2014 by Robby nz

[allan michaud]

More made up figures, will we ever know the truth?

"There are 14 million tonnes of rice in the state's inventory." and yesterday it was 18mill, last week it was 10mill.

"The paddy pledged by the government under the scheme from crops between October 2013 and this month totaled some 10 million tonnes worth Bt177 billion." again, this 10mill tons has been claimed to have cost B160 or 190 billion too.

I wonder if anyone actually knows the truth? One thing's for sure, Kittikat's word cannot be trusted.

[PaullyW]

The bullshit from these beleaguered blowhards never stops. Not one ounce of integrity among the lot of them.

And, sadly, you can level the same against the vast lot of the population here. All cut from the same stock.

[Thailand]

More lies from the Shinawatras. From rice sales to China which were never made to phantom loans to 'pay' back the farmers. You said you got the loans? Great! When will the farmers be paid then? Are your promises to pay the farmers as reliable as Chalerm's promise to behead himself? Just go quietly. You guys have just 2 months left.

I don't think they are going to reply to you as they are concerned about having the loans blocked by pressure from Suthep and his powerful friends again.

The crazy old coot is even trying to set up with an alliance with the very people he has been using as tools against the caretaker government.

He may be a lot of things but "crazy" is not one of them...

Yes, I guess crazy is too mild to describe Suthep.

[mightyatom]

Once again a red leaps in with blame Suthep.

What has he got to do with the banks rejecting the loans because of legal implications ?

Why didn't the minister of white lies make provision for the payments which he must have known would be due, before the house was dissolved, incompetence or just don't give a stuff for the farmers, take your choice.

Guarantee there has been no problem with him getting his salary.

Looks like these farmers are also blaming Suthep.

"Suthep don't use farmers for political gain"

Bf4GzY4CUAED4Vu.jpg

Digging up paid for propaganda shoots...... get this from Khaosod Shinawatra News did you?

Poor sods must be starving to accept a few hundred baht each to pose for this shot for the government.

You support a government who has ripped these poor idiots off. Yet you beg Suthep not to help them also.

What exactly do you have against the farmers?

Have a read up on what Stalin did to the Ukrainians in the 1930's you ought to get your rocks off at that little read.

[bigbamboo]

This government just never seems to learn. The protests are against their corrupt practices and the lack of transparency in running the country and yet they still can't bring themselves to be open and honest with the people they were elected to serve.