EGAT denies a rumor of funding the rice mortgaging scheme

[webfact]

EGAT denies a rumor of funding the rice mortgaging scheme



BANGKOK, 20 Feb 2014 (NNT) - The Electricity Generating Authority of Thailand (EGAT) has denied a news report that said it was funding the government’s rice pledging scheme.

Mr. Thatree Riwcharoen, EGAT’s Public Relations Department Director, stated the report was groundless and might have been caused by a misunderstanding.

Recently a rumor had surfaced that EGAT, a state enterprise that owns and manages the majority of Thailand's electricity generation capacity, was instructed by the government to provide 10 billion baht worth of loan for funding the rice support program.

Mr. Thatree said that the report was probably a misunderstanding as EGAT had recently cancelled a loan of similar amount of around 13 billion baht from its 2014 budget plan in November last year.


-- NNT 2014-02-20

[tx22cb]

Hysteria by rumours and innuendos, the W Hunt begins.

Reminds me of "Are you now, or have you ever been, ....."

[Suriya4]

If EGAT help farmers, I am going to boycott EGAT by cutting off my electric main, and invest in my own generator and batteries.

[MaxLee]

If EGAT help farmers, I am going to boycott EGAT by cutting off my electric main, and invest in my own generator and batteries.

Trade rice for Electricity What a bargain.. aside from that it can be used as bio fuel....

... when's the next Myanmar outage btw??? Songkran?

Edited February 20, 2014 by MaxLee

[englishoak]

I heard it was the gas company or was it the water ? no it was definitely sewage company .. quick boycott the lot... yeeesh

[siampolee]

Mr. Thatree said that the report was probably a misunderstanding as EGAT had recently cancelled a loan of similar amount of around 13 billion baht from its 2014 budget plan in November last year.

The whole statement is somewhat ambiguous.

It would appear that there may well be some grounds for suspicion going by the above quote. One must ask what that loan was for and where did it originate from?

To be totally honest this caretaker government are indeed in seriously deep water and of course any funds that may be available from a state entity could indeed be a valuable lifeline.

Desperate ends lead to desperate means.

[pookiki]

OH NO!! Now, will Suthep demand that EGAT shut off electricity to the rice farmers?

Edited February 20, 2014 by pookiki

[bkkjames]

OH NO!! Now, will Suthep demand that EGAT shut off electricity to the rice farmers?

Nah, he'll just go there and cut-off the buildings power.

[Scamper]

Regardless as whether this rumour is or isn't true, it does point to the fact that the administration has long exhausted the constitutional avenues in its constant, unquenchable thirst for billions and billions of baht. And the fact that this company has had to come out and actually issue a denial ( after all, all they have to do is look at what happened to GBS ), it shows that the administration can't be nearly as surreptitious as they used to. And so the other recent rumour of the new airport infrastructure parliamentary allocation being considered for earmarking funds to the rice scheme, caused similar alarm bells. Such a fountain of cash would indeed be very enticing to Pheu Thai right now. But of course, if the administration actually pooled into a fund that was earmarked by parliament for something else, that would spark yet another ( has anyone lost count at this point ? ) constitutional crisis. That's always been the problem with Pheu Thai. All their great ideas are illegal. In addition to that their problem is that their past history keeps turning them in, for Pheu Thai's past actions have been so consistently suspicious that everyone is now alerted to any movement of cash that might be suspect or underhanded. Doubtless, they would much prefer things as they were when they had a quorum and they could simply draw a curtain over all their activities. Doing things constitutionally is so annoying. So much better when no one is looking.

[Why ask]

"Mr. Thatree Riwcharoen, EGAT’s Public Relations Department Director, stated the report was groundless and might have been caused by a misunderstanding."

I'm positive there must be an equal misunderstanding as to why the rice farmers' money has disappeared, and they have not been paid.

A simple misunderstanding, without foundation, surely?

[Why ask]

Mr. Thatree said that the report was probably a misunderstanding as EGAT had recently cancelled a loan of similar amount of around 13 billion baht from its 2014 budget plan in November last year.

The whole statement is somewhat ambiguous.

It would appear that there may well be some grounds for suspicion going by the above quote. One must ask what that loan was for and where did it originate from?

To be totally honest this caretaker government are indeed in seriously deep water and of course any funds that may be available from a state entity could indeed be a valuable lifeline.

Desperate ends lead to desperate means.

Well if her outdoors is not permitted to run to Chiang Mai, and escape through Myanmar to fly to Dubai (which I don''t think will happen because her daddy no longer cares for her), then I'm sure it will all come out under court interrogation, when she cries and lets it all out.....

[BillyBobThai]

The president back in the states fells the same way. That constitution just keeps getting in the way. I am quite sure The Great O would be happy for Yingluck to move into one of the empty suites in the White House. The only trouble would be his big bu_ted wife.

[belg]

nobody has money for the rice farmers, strange isnt it ?

[Skywalker69]

nobody has money for the rice farmers, strange isnt it ?

But for sure somebody has the rice farmers money.

[ratcatcher]

EGAT has only a tenuous connection here to PTP via the Shinawatras. Shareholder number 6

http://www.scasset.com/en/shareholder.aspx

[Basil B]

May be the could buy 20 million tons of rice and use it as fuel

[JRSoul]

May be the could buy 20 million tons of rice and use it as fuel

Not practical for many round peg/square hole type reasons, not the least being grain size, low calorific value and moisture content.

[Thai at Heart]

Nice to know that egat has got 10bn sitting around doing nothing.

[siampolee]

As an aside to this matter a S.M.S. was received today around 09-30: ish from The Nation stating that the A.O.T. had refused Kittirat's request or offer of purchasing government bonds so as to assist in paying the farmers.

Indeed it seems as if the true financial status of Thailand is somewhat shaky and those little white lies so beloved by Kittirtat are now turning into whopping great lies.

[Jonmarleesco]

If the government's caretaker status raised questions over the legality of its fundraising from the Thai banks, I should think there would be no question of the illegality of raising a loan from EGAT for such a purpose, or any purpose outside of power generation.

[davidstipek]

"Mr. Thatree Riwcharoen, EGAT’s Public Relations Department Director, stated the report was groundless and might have been caused by a misunderstanding."

I'm positive there must be an equal misunderstanding as to why the rice farmers' money has disappeared, and they have not been paid.

A simple misunderstanding, without foundation, surely?

Could it be that "The Farmers funds were snagged to fund some other project....? Before anyone was looking.... Apparently that project never repaid Loan... Thinking they would never go amise. Maybe the repayment was made to Mr. T. to bolster his standings and Travels in lue of his own funds that were confiscated!

This this is closer to the truth as why it was never mentioned. The Government is always being accused of using money earmarked for legal Project... moving it to a 2nd project because "Funds are freely in their Hands now". So they would never draw Suspicion... Now would they?? They could draw out the repayment to the Farmers... As who are these Lowly People.... Who would believe we denied repayment to them.. "WE ARE THE GOVERNMENT" Who not believe us??? Do not Believe these Lowly Farmers...Who are they???? To question our word against theirs... "Who are they but the people of Thailand.... How dare they insinuate there is or we have done anything illegal??? We were elected by the People so our word or anything we do is above ever being the focus of any Questioning...

Yeeesss..... I will Believe this when Pigs Can Fly.....

This seems to be on the same Railroad track with what is the common consensus in the Leading Government Offices no matter where you go in Thailand....

[davidstipek]

Hmmmm....

What an Open Opportunity!!!

The Government ould sell "All The Rice" to make "Saki" For Songkhran.... They (people of Thailand) make anyway even if rice wine illegal. But they would be 100% assured to get the funds needed to "Pay the Farmers"

Next year the Farmers should get Represenative to talk to South Korea or Japan about the Purhase of their Crops. Hey, the Government tried to Screw you, why not return the Favor. Invite these Countries to come here and Harvest and Bottle... They would be insured that most of their efforts would be sold here, Just don't "Bank" (Deposit) any of the income. Courier... it home.... Diplomaticly!!!

[h90]

Hysteria by rumours and innuendos, the W Hunt begins.

Reminds me of "Are you now, or have you ever been, ....."

If someone is paranoid, it doesn't automatically mean that he isn't right.....

[h90]

Hmmmm....

What an Open Opportunity!!!

The Government ould sell "All The Rice" to make "Saki" For Songkhran.... They (people of Thailand) make anyway even if rice wine illegal. But they would be 100% assured to get the funds needed to "Pay the Farmers"

Next year the Farmers should get Represenative to talk to South Korea or Japan about the Purhase of their Crops. Hey, the Government tried to Screw you, why not return the Favor. Invite these Countries to come here and Harvest and Bottle... They would be insured that most of their efforts would be sold here, Just don't "Bank" (Deposit) any of the income. Courier... it home.... Diplomaticly!!!

In this case I would do my best to help the farmers....