Thai govt to ask commercial banks again for loans to pay farmers

[webfact]

Govt to ask commercial banks again for loans to pay farmers
By Digital Content



BANGKOK, Feb 12 – The government will renegotiate with commercial banks for loans to pay farmers who sold rice under the state subsidy scheme, according to caretaker Deputy Prime Minister Niwatthamrong Boonsongpaisan.

Mr Niwatthamrong, who is also caretaker commerce minister, made the promise to farmers during his second round of meeting with them yesterday.

He said the caretaker Cabinet yesterday approved Bt712 million budget for overdue payments to farmers who have waited for the money since September, while the Bank of Agriculture and Agricultural Cooperatives (BAAC) would take care of those who were due to get their payments in October.

The government should come up with assistance measures for farmers this week during which talks with commercial banks would be held again for possible borrowing.

The Internal Trade Department was instructed to facilitate farmers who wanted to inspect warehouses to ensure that rice has remained in stockpiles, and not disappeared as they were told, he said.

Varathep Ratanakorn, caretaker Minister to the PM’s Office, said it was impossible that payments were overdue for as much as 6-8 months, adding that provincial agriculture officials were instructed to work closely with BAAC in explaining the government’s attempt to help farmers.

Nattawut Saikua, caretaker Deputy Commerce Minister, said less than 200 of the total 43,569 sacks of rice were damaged in a fire at Lam Narai warehouse in Lop Buri's Chai Badan district yesterday.

The fire could possibly spread from a nearby sugarcane field but police are investigating the cause of the fire, he said, rejecting an allegation that the government was behind the incident to avoid farmers’ inspection. (MCOT online news)


-- TNA 2014-02-12

[ratcatcher]

Beggars belief.

[Soutpeel]

Beggars belief.

One wonders if they are trying to renegotiate with the banks or are threatening the banks ?.....maybe let Jataporn loose with a box of matches again ?

[djjamie]

"The fire could possibly spread from a nearby sugarcane field but police are investigating the cause of the fire"

So translated with google translate from the language of b#llshit to English he is saying "Thaksin's people didn't start the fire and to prove it we will get Thaksins police to investigate it"

Sugarcane? Twice in 2 weeks at the same warehouse?

All the below warehouses that caught fire are next to sugarcane farms too I suppose. They really do think the whole population of Thailand is stupid. Luckily it is no longer the public that need convincing. It is the NACC now.

Aug 8, 2012 -- Hat Yai
Nov 25, 2012 -- Mahasarakham
Nov 27, 2012 -- Srisaket
Jan 5, 2013 -- Petchabun
Mar 2, 2013 -- Pitsanulok
Mar 22, 2013 -- Saraburi

[Costas2008]

"The Internal Trade Department was instructed to facilitate farmers who wanted to inspect warehouses to ensure that rice has remained in stockpiles, and not disappeared as they were told, he said."

Don't think much disappeared, as not many want the rice, but I am sure the most of this rice will be rotten by now.

[MaxLee]

Take your money out of your bank accounts...

[Crossy]

Rice is subject to spontaneous combustion, must be what's happening here http://www.waltersforensic.com/articles/fire_investigation/vol1-no17.htm or perhaps not.

[Scamper]

The farce of the Yingluck administration continues. Just yesterday alone, the narratives from within the administration substantially contradicted each other. Kittirat said that there were " many banks " that were interested in issuing loans ( only they wanted to remain " anonymous ", you see. ) At the same time, Yingluck - presumably the prime minister - said that the banks felt constrained and felt they could not loan. And so, the very next day - yet again - there is yet another push to get banks interested. An auction was held two weeks ago where the top 34 banks in the country were invited to attend. Not one showed up ! This is nothing more than a shell game - a way to keep the farmers on a string with ever more extravagant promises and more dates to look forward to. But the bottom line is this - none of it will happen - because the administration does not have the power to raise or delegate the money. And reassurances from Nattawut - on any subject even remotely connected with fire - isn't going to cut it.

[lemonjelly]

<<Nattawut Saikua, caretaker Deputy Commerce Minister, said less than 200 of the total 43,569 sacks of rice were damaged in a fire at Lam Narai warehouse in Lop Buri's Chai Badan district yesterday.>> Yes, this guy knows quite a bit concerning causes of fire......

How could anybody take PT seriously when they make someone like this a minister.......... incredulous.

[Tatsujin]

Will it ever seep into their tiny little minds that they cannot take out any loans whilst they are a caretaker government? Has this not been the case since they first dissolved Parliament? What's changed?

[ratcatcher]

Will it ever seep into their tiny little minds that they cannot take out any loans whilst they are a caretaker government? Has this not been the case since they first dissolved Parliament? What's changed?

BANGKOK, Feb 12 – The government will renegotiate with commercial banks for loans to pay farmers who sold rice under the state subsidy scheme, according to caretaker Deputy Prime Minister Niwatthamrong Boonsongpaisan.

Apparently they've decided they are, after all, the government again and so they want to borrow (steal) more money.

[rogerdee123]

This will start the run on the banks .... ooops ..... kaatooth ...... I said that the last time the Govt asked asked the banks .... but it's worth repeating

[rogerdee123]

<<Nattawut Saikua, caretaker Deputy Commerce Minister, said less than 200 of the total 43,569 sacks of rice were damaged in a fire at Lam Narai warehouse in Lop Buri's Chai Badan district yesterday.>> Yes, this guy knows quite a bit concerning causes of fire......

How could anybody take PT seriously when they make someone like this a minister.......... incredulous.

He must have counted all 43,569 sacks himself yesterday

[saltandpepper]

Unbelievable! Completely shameless liars!

[rubl]

Well, at least now we know that according to Nattawut / records / whatever there are 43,569 sacks of rice in that particular warehouse and less than 200 damaged during the fire and it's extinction.

Did we get different numbers from this warehouse before?

[Jeremy50]

Take your money out of your bank accounts...

Already did.

[rickirs]

Beggars belief.

One wonders if they are trying to renegotiate with the banks or are threatening the banks ?.....maybe let Jataporn loose with a box of matches again ?

Suthep is the one who threatens banks. If the hai-based banks want business, and business with the federal government is one of the best customers you can have, they'll make deals with the government. The alternative is for the government to go to foreign-based banks for business.

[rickirs]

Rice is subject to spontaneous combustion, must be what's happening here http://www.waltersforensic.com/articles/fire_investigation/vol1-no17.htm or perhaps not.

Judging by the burn marks on the inside of the bags I'd say you're right about spontaneous combustion. Especially if the bags contain rice dust caused by excessive movement of the bags such as throwing the bags into stacks.

[rubl]

Beggars belief.

One wonders if they are trying to renegotiate with the banks or are threatening the banks ?.....maybe let Jataporn loose with a box of matches again ?

Suthep is the one who threatens banks. If the hai-based banks want business, and business with the federal government is one of the best customers you can have, they'll make deals with the government. The alternative is for the government to go to foreign-based banks for business.

You might have missed the latest news on this

""I hereby announce that non one is opposed to the banks granting loans to the administration," Suthep said."

http://www.thaivisa.com/forum/topic/703969-suthep-urges-commercial-banks-to-approve-loans-to-govt-to-pay-bt130bn-debt-to-farmers/

Mind you, not sure if commercial banks are really interested and if they are what premium interest the government will be charged.

[rickirs]

The farce of the Yingluck administration continues. Just yesterday alone, the narratives from within the administration substantially contradicted each other. Kittirat said that there were " many banks " that were interested in issuing loans ( only they wanted to remain " anonymous ", you see. ) At the same time, Yingluck - presumably the prime minister - said that the banks felt constrained and felt they could not loan. And so, the very next day - yet again - there is yet another push to get banks interested. An auction was held two weeks ago where the top 34 banks in the country were invited to attend. Not one showed up ! This is nothing more than a shell game - a way to keep the farmers on a string with ever more extravagant promises and more dates to look forward to. But the bottom line is this - none of it will happen - because the administration does not have the power to raise or delegate the money. And reassurances from Nattawut - on any subject even remotely connected with fire - isn't going to cut it.

There is a timeline you need to follow. First is that the EC said it has no authority to stop borrowing after it did. Then when the government went to the banks, Suthep waded in with bank occupations and threats. The banks backed away. Now the Feb. 2nd was held and the banks see normalcy returning with the current administration remaining in control. So now the banks are interested. But Suthep remains a physical threat that not even the police can control, so as a precaution they have had secret contacts with the administration to make loans. Who doesn't want to see the government get the loans to pay the farmers? Only Suthep.

[rickirs]

Beggars belief.

One wonders if they are trying to renegotiate with the banks or are threatening the banks ?.....maybe let Jataporn loose with a box of matches again ?

Suthep is the one who threatens banks. If the hai-based banks want business, and business with the federal government is one of the best customers you can have, they'll make deals with the government. The alternative is for the government to go to foreign-based banks for business.

You might have missed the latest news on this

""I hereby announce that non one is opposed to the banks granting loans to the administration," Suthep said."

http://www.thaivisa.com/forum/topic/703969-suthep-urges-commercial-banks-to-approve-loans-to-govt-to-pay-bt130bn-debt-to-farmers/

Mind you, not sure if commercial banks are really interested and if they are what premium interest the government will be charged.

And Suthep NEVER LIES and his Occupation Bangkok never ends.

[GentlemanJim]

A Government trying to get loans from it's own country's commercial banks...good heavens what a mess.

[Prbkk]

....and the Baht...is up....again....markets betting that the govt will stay in office ( although it would be good for the economy for it to be a little lower, IMHO)

[rubl]

A Government trying to get loans from it's own country's commercial banks...good heavens what a mess.

Blame the non-revolving fund of 500 billion Baht and the 200++ additionally loaned already. Surely not the Yingluck government's fault, or at least not the fault of the National Rice Committees chairwoman?

[casualbiker]

The farce of the Yingluck administration continues. Just yesterday alone, the narratives from within the administration substantially contradicted each other. Kittirat said that there were " many banks " that were interested in issuing loans ( only they wanted to remain " anonymous ", you see. ) At the same time, Yingluck - presumably the prime minister - said that the banks felt constrained and felt they could not loan. And so, the very next day - yet again - there is yet another push to get banks interested. An auction was held two weeks ago where the top 34 banks in the country were invited to attend. Not one showed up ! This is nothing more than a shell game - a way to keep the farmers on a string with ever more extravagant promises and more dates to look forward to. But the bottom line is this - none of it will happen - because the administration does not have the power to raise or delegate the money. And reassurances from Nattawut - on any subject even remotely connected with fire - isn't going to cut it.

There is a timeline you need to follow. First is that the EC said it has no authority to stop borrowing after it did. Then when the government went to the banks, Suthep waded in with bank occupations and threats. The banks backed away. Now the Feb. 2nd was held and the banks see normalcy returning with the current administration remaining in control. So now the banks are interested. But Suthep remains a physical threat that not even the police can control, so as a precaution they have had secret contacts with the administration to make loans. Who doesn't want to see the government get the loans to pay the farmers? Only Suthep.

Your slightly wrong. The EC said that THEY had no authority to say yes. They went onto say IF the "government " wanted to get loans then upto them BUT they may face charges. Now it seems that someone in the government has been bright enough to get a Council of State ruling that it's OK to get loans to cover existing debt.

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

[MunterHunter]

Who doesn't want to see the government get the loans to pay the farmers? Only Suthep.

That's a flat out lie... and you know it!

http://www.thaivisa.com/forum/topic/703969-suthep-urges-commercial-banks-to-approve-loans-to-govt-to-pay-bt130bn-debt-to-farmers/

Edited February 12, 2014 by MunterHunter

[Neurath]

The farce of the Yingluck administration continues. Just yesterday alone, the narratives from within the administration substantially contradicted each other. Kittirat said that there were " many banks " that were interested in issuing loans ( only they wanted to remain " anonymous ", you see. ) At the same time, Yingluck - presumably the prime minister - said that the banks felt constrained and felt they could not loan. And so, the very next day - yet again - there is yet another push to get banks interested. An auction was held two weeks ago where the top 34 banks in the country were invited to attend. Not one showed up ! This is nothing more than a shell game - a way to keep the farmers on a string with ever more extravagant promises and more dates to look forward to. But the bottom line is this - none of it will happen - because the administration does not have the power to raise or delegate the money. And reassurances from Nattawut - on any subject even remotely connected with fire - isn't going to cut it.

There is a timeline you need to follow. First is that the EC said it has no authority to stop borrowing after it did. Then when the government went to the banks, Suthep waded in with bank occupations and threats. The banks backed away. Now the Feb. 2nd was held and the banks see normalcy returning with the current administration remaining in control. So now the banks are interested. But Suthep remains a physical threat that not even the police can control, so as a precaution they have had secret contacts with the administration to make loans. Who doesn't want to see the government get the loans to pay the farmers? Only Suthep.

I certainly want to see that the farmers get paid for the rice that they handed over. And that they get the price that was agreed at the time. However, I don't want the government to borrow money to pay for the scheme. The principle sum and the bank interest would have to be made up by taxation reciepts. This is very bad. Increased borrowing leading to increased taxation. No, the government should sell public assets get the money needed. They could, for example, sell the remainder of Thai Airways - to Taksin Shinawatra. I fancy that Oak would fancy being a hostess too.

Whatever way this goes down, I'm going to be paying twice for my rice - once when I buy and once when I pay the taxes the government will use to pay the interest on the loans the governmnent took out to pay the farmers. It truly ass burning. Not to worry, this bit of corruption will soon be weeded out. Never forget that citizens here absolutely detest and abhor ALL forms of corruption (that don't don't directly benefit them.)

[swissie]

Take your money out of your bank accounts...

Whenever I get verifiable information, that Thai-Commercial-Banks are getting involved in a "Bail-Out-Scheme" connected with the Rice-Desaster, I shall be visiting my Thai-Bank the next day with an empty suit-case, or insisting on a quick wire-transfer.

Cheers.

[tingtongteesood]

Most of mine is out, will finish the job over the next few days....

[MunterHunter]

Most of mine is out, will finish the job over the next few days....

Mine is already out of the country, in Singapore