Kittirat endorses payment of 20-billion baht to pay farmers

[webfact]

Kittirat endorses payment of 20-billion baht to pay farmers



BANGKOK: -- Deputy Prime Minister and Finance Minister Kittirat na Ranong has signed endorsement for a payment of 20 billion baht from the central fund to pay rice farmers.

Director-general of the Comptroller General’s Department Mr Manas Jamveha disclosed that Mr Kittirat signed approval of the imbursement of 20 billion baht this morning.

He said he expected that within this week farmers who hold their rice vouchers prior to December 9 last year will be the group of farmers entitled for the payment of their rice.

He said after the endorsement, the Comptroller General’s Department will transfer all the money to the Bank for Agriculture and Agricultural Cooperative to manage the payment.

So far the bank has said it has already paid out 73 billion baht to farmers out of the total value of rice pledged of 190 billion baht.

The caretaker government is committed to repay 20 billion baht cash to the central fund by May 31 as pledged with the Election Commission.

Source: http://englishnews.thaipbs.or.th/kittirat-endorses-payment-20-billion-baht-pay-farmers/


-- Thai PBS 2014-03-18

[Costas2008]

"The caretaker government is committed to repay 20 billion baht cash to the central fund by May 31 as pledged with the Election Commission."

Hopefully, this caretaker government will be residing in Dubai by the 31st of May.

[PepperMe]

He said he expected that within this week farmers who hold their rice vouchers prior to December 9 last year.

That isn't even going to pay the debts up to October..... But I suppose 'up to Dec 9' sounds better and technically October is before Dec 9.

But they really have to twist everything and take the piss out of the farmers.

Now I hope all the farmers not paid out of this cash and hold receipts prior to Dec 9 will rise up in extreme anger.

With a bit of luck anyway.

[Scamper]

Kittirat will likely be in the midst of an impeachment trial by the time this loan is " promised " to be repaid at the end of May. Regardless to the fact that as an ex-caretaker administration they can't actually oversee this or anything, for that matter - no one really expects this promise to be kept any more than any of the other previous promises. One thing is for certain - the monies that Pheu Thai can pool from are getting smaller and smaller. For more assistance, they'll have to turn to Ko Tee, as he's promised to plunder the national banks.

[HeavyDrinker]

I hope this is true for the sake of these poor people....

[worgeordie]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

[antimedia]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

I suppose the courts will come down on them hard like they do everytime. Mind you if they did it would probably heard in a couple of years or more.

[Robby nz]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

From what I read the EC said the 20 billion must be repaid my 31 May this year, that was their condition for granting permission to do what is an inter department loan.

That Kitteratt has signed off on the loan would appear to have made him responsible for the repayment.

Did not see anywhere what the consequenses would be if the loan was not repaid by the due date but I would imagine the EC would have something nasty in mind and now Kitteratt has been the one to sign the deal he would probably be the recipient or that nastiness should it not be repaid.

However he may be planning on having packed his bags and left by then.

[soalbundy]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

From what I read the EC said the 20 billion must be repaid my 31 May this year, that was their condition for granting permission to do what is an inter department loan.

That Kitteratt has signed off on the loan would appear to have made him responsible for the repayment.

Did not see anywhere what the consequenses would be if the loan was not repaid by the due date but I would imagine the EC would have something nasty in mind and now Kitteratt has been the one to sign the deal he would probably be the recipient or that nastiness should it not be repaid.

However he may be planning on having packed his bags and left by then.

No,he'll say the signature was a white lie and all will be well again

[Wombat6]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

You will probably see an exodus of Miss Piggy-Poo and all her Trough piglets heading to Dubai/

[swissie]

Let's see what we got:

-The rice pledging scheme

-The first car buyers sceme

-The 30 Bht health insurance scheme

-The Mega-Infrastructure-Projects scheme

-The 300 Bht Minimum-Wage scheme

I can only whisper softly: Good night Thailand, good night.

Cheers.

[rubl]

Last week payments from the 20 billion borrowed were supposed to start this Monday. Now it would seem we still have to wait for the Comptroller to transfer the money to the BAAC which may do some administration on the money received before actually starting to pay out.

BTW with BAAC already paid out 73 billion baht to farmers out of the total value of rice pledged of 190 billion baht, that still leave 127 billion to be covered somehow. Does that mean that of the 130 bililon the government wanted to borrow, now after many successful rice sales there's still 127 billion needed?

[Why ask]

A controller or comptroller usually has a certification in public accounting (CPA or Certified Public Accountant) and a Master's degree in Accounting.

Show me the evidence that you have these, Kittitwat.

[Old Man River]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

From what I read the EC said the 20 billion must be repaid my 31 May this year, that was their condition for granting permission to do what is an inter department loan.

That Kitteratt has signed off on the loan would appear to have made him responsible for the repayment.

Did not see anywhere what the consequenses would be if the loan was not repaid by the due date but I would imagine the EC would have something nasty in mind and now Kitteratt has been the one to sign the deal he would probably be the recipient or that nastiness should it not be repaid.

However he may be planning on having packed his bags and left by then.

As Finance Minister, since no one else had the balls to sign off on it, he had no choice. He may be what everyone says about him, but I have always liked this guy.

Sent from my iPad using Thaivisa Connect Thailand

[Dr Bruce]

Last week payments from the 20 billion borrowed were supposed to start this Monday. Now it would seem we still have to wait for the Comptroller to transfer the money to the BAAC which may do some administration on the money received before actually starting to pay out.

BTW with BAAC already paid out 73 billion baht to farmers out of the total value of rice pledged of 190 billion baht, that still leave 127 billion to be covered somehow. Does that mean that of the 130 bililon the government wanted to borrow, now after many successful rice sales there's still 127 billion needed?

You are good with numbers, ever thought of becoming an accountant?

[Robby nz]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

From what I read the EC said the 20 billion must be repaid my 31 May this year, that was their condition for granting permission to do what is an inter department loan.

That Kitteratt has signed off on the loan would appear to have made him responsible for the repayment.

Did not see anywhere what the consequenses would be if the loan was not repaid by the due date but I would imagine the EC would have something nasty in mind and now Kitteratt has been the one to sign the deal he would probably be the recipient or that nastiness should it not be repaid.

However he may be planning on having packed his bags and left by then.

As Finance Minister, since no one else had the balls to sign off on it, he had no choice. He may be what everyone says about him, but I have always liked this guy.

Sent from my iPad using Thaivisa Connect Thailand

He's yours.

Take him and leave. The country will be much better off without his white lies.

[Tatsujin]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

From what I read the EC said the 20 billion must be repaid my 31 May this year, that was their condition for granting permission to do what is an inter department loan.

That Kitteratt has signed off on the loan would appear to have made him responsible for the repayment.

Did not see anywhere what the consequenses would be if the loan was not repaid by the due date but I would imagine the EC would have something nasty in mind and now Kitteratt has been the one to sign the deal he would probably be the recipient or that nastiness should it not be repaid.

However he may be planning on having packed his bags and left by then.

PTP would be dissolved for one if they fail to repay the loan. But that's on the cards anyway.

[Dap]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

They shall simply blame it on the protesters and then

have their attorneys delay proceedings until they can

arrange adequate transportation to Dubai or "parts-

unknown".

[Old Man River]

What happens IF the caretaker government does NOT repay the 20 Billion Bht

May 31st ?........they did mean this year?

regards worgeordie

From what I read the EC said the 20 billion must be repaid my 31 May this year, that was their condition for granting permission to do what is an inter department loan.

That Kitteratt has signed off on the loan would appear to have made him responsible for the repayment.

Did not see anywhere what the consequenses would be if the loan was not repaid by the due date but I would imagine the EC would have something nasty in mind and now Kitteratt has been the one to sign the deal he would probably be the recipient or that nastiness should it not be repaid.

However he may be planning on having packed his bags and left by then.

As Finance Minister, since no one else had the balls to sign off on it, he had no choice. He may be what everyone says about him, but I have always liked this guy.

Sent from my iPad using Thaivisa Connect Thailand

He's yours.

Take him and leave. The country will be much better off without his white lies.

No problem. You take Chalerm and the rest of the PTP as well.

Like I said, Kittirat may be everything they say, but finally someone in the PTP stepped up for the farmers. When the "you know what" hits the fan, they always look for the one who signed off. Of all the rest, he stepped up.

Sent from my iPad using Thaivisa Connect Thailand

[englishoak]

I don't care if the gov cant repay by May 31 or not. Who cares where the gov begs borrows or even steals the money from Just getting the farmers paid is all that matters.

Let the gov answer for the method later and gets the farmers off the hook they have been stuck on for so long.

[surangw]

after "commissions " fees and kick backs are paid how much will the farmers be in the hole?

[JesseFrank]

No problem. You take Chalerm and the rest of the PTP as well.

Like I said, Kittirat may be everything they say, but finally someone in the PTP stepped up for the farmers. When the "you know what" hits the fan, they always look for the one who signed off. Of all the rest, he stepped up.

Sent from my iPad using Thaivisa Connect Thailand

How about they are just trying to save their own arse, again at the expense of someone else. e.g. the tax payer.

[Old Man River]

No problem. You take Chalerm and the rest of the PTP as well.

Like I said, Kittirat may be everything they say, but finally someone in the PTP stepped up for the farmers. When the "you know what" hits the fan, they always look for the one who signed off. Of all the rest, he stepped up.

Sent from my iPad using Thaivisa Connect Thailand

How about they are just trying to save their own arse, again at the expense of someone else. e.g. the tax payer.

Almost nobody who could spell the word "economics" supported this scheme from the beginning, but now that the Country is pregnant with it, as a taxpayer, I can certainly applaud the one guy who had the balls to put his name on it to help pay the farmers who got sucked into it.

Sent from my iPad using Thaivisa Connect Thailand

[Robby nz]

No problem. You take Chalerm and the rest of the PTP as well.

Like I said, Kittirat may be everything they say, but finally someone in the PTP stepped up for the farmers. When the "you know what" hits the fan, they always look for the one who signed off. Of all the rest, he stepped up.

Sent from my iPad using Thaivisa Connect Thailand

How about they are just trying to save their own arse, again at the expense of someone else. e.g. the tax payer.

Almost nobody who could spell the word "economics" supported this scheme from the beginning, but now that the Country is pregnant with it, as a taxpayer, I can certainly applaud the one guy who had the balls to put his name on it to help pay the farmers who got sucked into it.

Sent from my iPad using Thaivisa Connect Thailand

Spin spin spin.

It was your hero Kitteratt who got the farmers and the country in this mess by not making provision to pay the debt to the farmers before the house was dissolved.

You should also note that there is another almost 120 billion required to fully pay the farmers, then there are the ongoing storage and other costs.

From now till May 31st any money received from rice sales will be going to repay this loan and NOT to pay the farmers so the 20 billion plus anything the BACC can raise through loans or donations is all the farmers can expect to get.

So if the 20 billion is paid out this month, as they say it will be, then the farmers will get nothing more for another 2 months.

I see reported elsewhere this morning that farmers are now being offered as little a 3,000 B per ton for their new seasons rice, a price less than the cost of production.

Another consequence of this wonderful scheme.

[RubbaJohnny]

Plot for a robbery

Shroud it as sweets for ill educated poor

In a backward place with fake,rules,enforcement, rendition, fake IDs ,passports readily available to people on the lam,maybe a repainted aircraft from a secret rendition strip.

The fake promise by phoney people were later revealed to be real deception,but by this time the patient had died and the loot had gone.

``````````snip crackle poop all that was left was a mountain of Rice Crusty and deceived hoodwinked easily recognised by their herd attire.

[Old Man River]

No problem. You take Chalerm and the rest of the PTP as well.

Like I said, Kittirat may be everything they say, but finally someone in the PTP stepped up for the farmers. When the "you know what" hits the fan, they always look for the one who signed off. Of all the rest, he stepped up.

Sent from my iPad using Thaivisa Connect Thailand

How about they are just trying to save their own arse, again at the expense of someone else. e.g. the tax payer.

Almost nobody who could spell the word "economics" supported this scheme from the beginning, but now that the Country is pregnant with it, as a taxpayer, I can certainly applaud the one guy who had the balls to put his name on it to help pay the farmers who got sucked into it.

Sent from my iPad using Thaivisa Connect Thailand

Spin spin spin.

It was your hero Kitteratt who got the farmers and the country in this mess by not making provision to pay the debt to the farmers before the house was dissolved.

You should also note that there is another almost 120 billion required to fully pay the farmers, then there are the ongoing storage and other costs.

From now till May 31st any money received from rice sales will be going to repay this loan and NOT to pay the farmers so the 20 billion plus anything the BACC can raise through loans or donations is all the farmers can expect to get.

So if the 20 billion is paid out this month, as they say it will be, then the farmers will get nothing more for another 2 months.

I see reported elsewhere this morning that farmers are now being offered as little a 3,000 B per ton for their new seasons rice, a price less than the cost of production.

Another consequence of this wonderful scheme.

Yeh my hero. You sure have me pegged. You know nothing.

I have written here many times that I doubt your heros ever planned to pay the farmers, or all those in the first car scheme etc. If your heroes wanted to pay in full, they would have had approved budgets for it like any finance person knows how to do.Instead, your heroes did nothing until someone else (Kittirat), felt guilty enough and signed off taking some of the approved Central budget to make some of the payments to starving farmers when the rest of your heroes were hiding under tables yelling not me, not me.

Sent from my iPad using Thaivisa Connect Thailand

[Robby nz]

Spin spin spin.

It was your hero Kitteratt who got the farmers and the country in this mess by not making provision to pay the debt to the farmers before the house was dissolved.

You should also note that there is another almost 120 billion required to fully pay the farmers, then there are the ongoing storage and other costs.

From now till May 31st any money received from rice sales will be going to repay this loan and NOT to pay the farmers so the 20 billion plus anything the BACC can raise through loans or donations is all the farmers can expect to get.

So if the 20 billion is paid out this month, as they say it will be, then the farmers will get nothing more for another 2 months.

I see reported elsewhere this morning that farmers are now being offered as little a 3,000 B per ton for their new seasons rice, a price less than the cost of production.

Another consequence of this wonderful scheme.

Yeh my hero. You sure have me pegged. You know nothing.

I have written here many times that I doubt your heros ever planned to pay the farmers, or all those in the first car scheme etc. If your heroes wanted to pay in full, they would have had approved budgets for it like any finance person knows how to do.Instead, your heroes did nothing until someone else (Kittirat), felt guilty enough and signed off taking some of the approved Central budget to make some of the payments to starving farmers when the rest of your heroes were hiding under tables yelling not me, not me.


Sent from my iPad using Thaivisa Connect Thailand

Man have you fallen out of your tree.

I have no heroes in all of this unfortunately all those involved appear to be villains.

It is you who have been talking up kitteratt and he was the finance minister who failed to make provision in the budget to pay the farmers and all the others you mention.

Although you are probably right that he and the PT Govt left these provisions out of the budget on purpose.

They stated earlier that they had intended to borrow money from the infrastructure budget the pay the farmers and others like the student loan fund and the new car payments.

It is obvious that he only infrastructure budget was the 2.2 trillion that has now been dumped because of illegalities .

If there had been any other, then the work on the railway which is ready to go ahead and only waiting for funding, would be underway.

In todays news :

Posted Today, 09:35

20 billion baht ready to be disbursed to BAAC to pay rice growers

BANGKOK, 19 March 2014 (NNT) – Finance Minister Kittirat Na Ranong has indicated the 20 billion baht borrowed from the government's central budget is ready to be processed in order to pay rice growers who have been awaiting payment for their mortgaged rice.

According to Mr. Kittirat, the money will be transferred to the Bank for Agriculture and Agricultural Cooperatives (BAAC), so the latter can commence paying the rice growers who have not received money owed to them under the 2013/2014 growing season. Between 150,000 to 200,000 rice growers, who received their warehouse receipts before December 9, 2013, will be entitled to money derived from the 20 billion baht amount.

In the meantime, Commerce Minister Niwatthamrong Bunsongphaisan asserted the government would be able to acquire enough money from the sale of mortgaged rice to return the 20 billion baht amount to the central coffers by the May 31 deadline.


-- NNT 2014-03-19

I am wondering just what the "Processing" entails ?

And hoping that it does not mean that a cut will be taken of the top for the officials involved or the BACC commission (agents fee) taken out before it reaches the farmers.

[Old Man River]

Spin spin spin.

It was your hero Kitteratt who got the farmers and the country in this mess by not making provision to pay the debt to the farmers before the house was dissolved.

You should also note that there is another almost 120 billion required to fully pay the farmers, then there are the ongoing storage and other costs.

From now till May 31st any money received from rice sales will be going to repay this loan and NOT to pay the farmers so the 20 billion plus anything the BACC can raise through loans or donations is all the farmers can expect to get.

So if the 20 billion is paid out this month, as they say it will be, then the farmers will get nothing more for another 2 months.

I see reported elsewhere this morning that farmers are now being offered as little a 3,000 B per ton for their new seasons rice, a price less than the cost of production.

Another consequence of this wonderful scheme.

Yeh my hero. You sure have me pegged. You know nothing.

I have written here many times that I doubt your heros ever planned to pay the farmers, or all those in the first car scheme etc. If your heroes wanted to pay in full, they would have had approved budgets for it like any finance person knows how to do.Instead, your heroes did nothing until someone else (Kittirat), felt guilty enough and signed off taking some of the approved Central budget to make some of the payments to starving farmers when the rest of your heroes were hiding under tables yelling not me, not me.

Sent from my iPad using Thaivisa Connect Thailand

Man have you fallen out of your tree.

I have no heroes in all of this unfortunately all those involved appear to be villains.

It is you who have been talking up kitteratt and he was the finance minister who failed to make provision in the budget to pay the farmers and all the others you mention.

Although you are probably right that he and the PT Govt left these provisions out of the budget on purpose.

They stated earlier that they had intended to borrow money from the infrastructure budget the pay the farmers and others like the student loan fund and the new car payments.

It is obvious that he only infrastructure budget was the 2.2 trillion that has now been dumped because of illegalities .

If there had been any other, then the work on the railway which is ready to go ahead and only waiting for funding, would be underway.

Actually Kittirat wasn't the original Finance Minister in this program. He was the original Commerce Minister who lost his post to the next Commerce Minister who was then indicted for corruption. I wonder what it is that Kittirat refused to do that the next guy agreed to. What Kittirat has agreed to do is sign off when none of the rest of YL's cabinet, including YL herself wouldn't.

Is Kittirat a crook? I don't know, but he would do what the rest of the PTP wouldn't to help the farmers.

Sent from my iPad using Thaivisa Connect Thailand

Edited March 19, 2014 by Old Man River

[rubl]

Last week payments from the 20 billion borrowed were supposed to start this Monday. Now it would seem we still have to wait for the Comptroller to transfer the money to the BAAC which may do some administration on the money received before actually starting to pay out.

BTW with BAAC already paid out 73 billion baht to farmers out of the total value of rice pledged of 190 billion baht, that still leave 127 billion to be covered somehow. Does that mean that of the 130 bililon the government wanted to borrow, now after many successful rice sales there's still 127 billion needed?

You are good with numbers, ever thought of becoming an accountant?

You're good at asking distracting questions. What's the "Dr." in?

BTW the latest news on the 20 billion seems to be a start of payments from it by the BAAC from today with a source at BAAC saying that about 170,000 framers could be paid and payments expected to be made within one month.

That seems to indicate that it will be a wee bit later than mid-January for at least some farmers. I wonder how many more will be waiting even longer as it would seem about 107 billion will still be outstanding

[Robby nz]

I see it reported elsewhere today that the Govt has been doing "deals".

Reported that it has been selling rice through a "secret channel" to "certain exporters" at way below market price, quoted as 9.5 b per kg as opposed to 12-13 b.

Said to have disposed of 800,000 tons this way,

Not only undercutting the world price but also in direct completion with Thai rice farmers.

Also said that the price realized by the sales on the futures exchange were only 11.5 b per kg, again below world price and that interest on in the futures market has waned from 34 bidders in past auctions to 7 in the latest.