Thai rice-plediging scheme: Farmers to be paid via issuance of public bonds

[Robby nz]

There are good articles elsewhere this morning two on the rice and another on the turn around.

Read them before posting again.

Also an opinion piece on emotionally stunted that applies to several posters.

Perhaps links to the articles you think are good? I didn't see anything with info not already known.

In my opinion, I think they planned on allocating some of the THB 2 trillion budget to pay the farmers, but Suthep threw a wrench into their plans. I expressed this opinion weeks ago. I don't think they wanted a protracted discussion on the rice scheme, hence didn't go for a specific budget to pay the farmers (my opinion only). The article I am looking at suggests using some of the Central Budget which was approved pre-Suthep. I agree with that as I want to see the farmers paid, although liquidity is being discussed as if it is a problem. They can work that out.

How they move away from this unsuccessful program to one that still keeps their constituents happy is anyone's guess.

Sent from my iPad using Thaivisa Connect Thailand

Would like to provide links but unfortunately not allowed to do that, should be OK if I say look at the B P.

They have said that they were going to use the "Investment budget" to pay farmers, to the best of my knowledge there is no other, if there were then they should be able to use it now as the 2014 budget has been passed.

[Old Man River]

There are good articles elsewhere this morning two on the rice and another on the turn around.

Read them before posting again.

Also an opinion piece on emotionally stunted that applies to several posters.

Perhaps links to the articles you think are good? I didn't see anything with info not already known.

In my opinion, I think they planned on allocating some of the THB 2 trillion budget to pay the farmers, but Suthep threw a wrench into their plans. I expressed this opinion weeks ago. I don't think they wanted a protracted discussion on the rice scheme, hence didn't go for a specific budget to pay the farmers (my opinion only). The article I am looking at suggests using some of the Central Budget which was approved pre-Suthep. I agree with that as I want to see the farmers paid, although liquidity is being discussed as if it is a problem. They can work that out.

How they move away from this unsuccessful program to one that still keeps their constituents happy is anyone's guess.

Sent from my iPad using Thaivisa Connect Thailand

Would like to provide links but unfortunately not allowed to do that, should be OK if I say look at the B P.

They have said that they were going to use the "Investment budget" to pay farmers, to the best of my knowledge there is no other, if there were then they should be able to use it now as the 2014 budget has been passed.

What is bothersome is that they didn't specifically budget for payment to farmers that they knew rely on this for their livelihood. I understand that most of the payments would have been to the more wealthier farmers, but still this their livelihood. It is all relative. These are things that governments (any government) shouldn't mess with. At least the courts, as a check and balance, are in the middle of this, now.

Sent from my iPad using Thaivisa Connect Thailand

[Davidhere]

The OP:

BANGKOK: -- The caretaker government says it is preparing to launch a bond issuance to mobilise funds to pay farmers under the rice-pledging scheme.

The reality:

February 27, 2014

The Finance Ministry's auction for promissory notes worth Bt20 billion held Thursday failed again as none of bidders showed up, resulted into the second failure of the caretaker government in an attempt to seek funds to pay farmers, who have not been yet paid, under the flagship rice-pledging scheme.

http://www.nationmultimedia.com/breakingnews/Bt20bn-PN-bidding-for-rice-money-fails-30227986.html

Oopsy Daisy... Try again next month.

.

[JRSoul]

The OP:

BANGKOK: -- The caretaker government says it is preparing to launch a bond issuance to mobilise funds to pay farmers under the rice-pledging scheme.

The reality:

February 27, 2014

The Finance Ministry's auction for promissory notes worth Bt20 billion held Thursday failed again as none of bidders showed up, resulted into the second failure of the caretaker government in an attempt to seek funds to pay farmers, who have not been yet paid, under the flagship rice-pledging scheme.

http://www.nationmultimedia.com/breakingnews/Bt20bn-PN-bidding-for-rice-money-fails-30227986.html

Oopsy Daisy... Try again next month.

.

Surely "bidders" should be qualified by 'prospective', 'possible' or even 'alleged likely'. How can you be a bidder if you don't show up to bid?

[hawker9000]

The OP:

BANGKOK: -- The caretaker government says it is preparing to launch a bond issuance to mobilise funds to pay farmers under the rice-pledging scheme.

The reality:

February 27, 2014

The Finance Ministry's auction for promissory notes worth Bt20 billion held Thursday failed again as none of bidders showed up, resulted into the second failure of the caretaker government in an attempt to seek funds to pay farmers, who have not been yet paid, under the flagship rice-pledging scheme.

http://www.nationmultimedia.com/breakingnews/Bt20bn-PN-bidding-for-rice-money-fails-30227986.html

Oopsy Daisy... Try again next month.

.

'Guess Thai at Heart lost interest... LOL (see earlier this thread - one or two others as well who said they'd buy them...) C'mon T@H (et al) - how 'bout some money where your mouth is! No? I didn't think so...

Does this mean the farmers will be back in BKK on their tractors?

Edited February 27, 2014 by hawker9000

[Robby nz]

The 20 billion they are asking to use is coming from the fund set aside in case of emergencies, disasters or suchlike.

It stands at 70 billion and at a meeting of the rice policy committee (chair absent) a member of the National Budget Bureau which administers the fund told the meeting that CMPO had already applied to the fund for 10 billion to pay riot police.

That's right CMPO has spent 10 billion...10 billion on extra payments for police, and the rice farmers get nothing.

Also editorial elsewhere this morning on rice, worth a read.

[MAJIC]

So it seems obvious the Farmers money has done a runner into unknown accounts? so bring on act 2 ......here comes the Junk Government Bonds!

[Davidhere]

The OP:

BANGKOK: -- The caretaker government says it is preparing to launch a bond issuance to mobilise funds to pay farmers under the rice-pledging scheme.

The reality:

February 27, 2014

The Finance Ministry's auction for promissory notes worth Bt20 billion held Thursday failed again as none of bidders showed up, resulted into the second failure of the caretaker government in an attempt to seek funds to pay farmers, who have not been yet paid, under the flagship rice-pledging scheme.

http://www.nationmultimedia.com/breakingnews/Bt20bn-PN-bidding-for-rice-money-fails-30227986.html

Oopsy Daisy... Try again next month.

.

'Guess Thai at Heart lost interest... LOL (see earlier this thread - one or two others as well who said they'd buy them...) C'mon T@H (et al) - how 'bout some money where your mouth is! No? I didn't think so...

Does this mean the farmers will be back in BKK on their tractors?

Today is the last day of the "next week" they were promised by Yingluck last week.

Fire the tractors up.

.

[hawker9000]

Amazing that these farmers bought into it in the 1st place. But I suppose desperation will make a believer out of anybody...

...which I wouldn't be surprised to learn was part of the Pheu Thai/Thaksin contingency planning all along...