BACC receives Bt1.3 billion from public to help rice farmers

[webfact]

BACC receives Bt1.3 billion from public to help farmers



BANGKOK: -- After 23 days since the launch of a campaign for public donations and contributions to help rice farmers, the Bank of Agriculture and Agricultural Cooperatives has received altogether about 1,348 million baht from the public.

The amount received so far includes 21,724,913.66 baht in donations, 768,747,202.92 baht in refundable interest-free contributions and 558,016,036.48 baht in refundable contributions with 0.63 interest.

Besides the public donations and contributions, the government has borrowed 20 billion baht from the Central Fund to pay the rice farmers, many of whom have not been paid since last November after having pledged their crops with the Commerce Ministry. The loan is to be paid back to the Central Fund within May 31.

Full story: http://englishnews.thaipbs.or.th/bacc-receives-bt1-3-billion-public-help-farmers/


-- Thai PBS 2014-03-28

[djjamie]

It is good to see the majority that want reform before elections helping out the rice farmers. I always wonder had the PTP known the gravity of this senseless hopelessness that the farmers are feeling now and the desperate precarious situation the PTP have placed them in, would they have been fiscally responsible within this rice scheme or at the least ensured a loan was accessed before they dissolved. I think not because that would mean they admit they lied to the public when they said they had the money within budget. They have scarified the livelihoods of millions of farmers to save face and now they ignore them. Call them fake or intimidate them if they protest.

Good to see the majority step up to the plate of responsibly democracy, sweep the dictatorial sand off it and hit the ball of corruption thrown by Suthep out of the field never to be seen again.

The majority have spoken through their wallets here. Time for people to accept the majorities voice now.

Edited March 28, 2014 by djjamie

[Gunna]

"In 1966 the government established the Bank for Agriculture and Agricultural Cooperatives (BAAC) as a state enterprise under the jurisdiction of the Ministry of Finance "

768,747,202.92 baht in refundable interest-free contributions and 558,016,036.48 baht in refundable contributions

So the Caretaker Government is borrowing money from the public to pay the rice farmers.

I thought borrowing that has to be paid back by the next Government has to be approved by EC.

Did the EC approve this scheme.

If not it is yet another illegal scheme by PT

[chainarong]

It is a sorry state of affairs when the public have to donate from their own money to help prop up a scheme that was originally designed to buy votes, this money was never their in the first instance , so the public in reality are funding a scam , the only incentive here is to help the rice farmers , for that the PTP should be internally grateful, it is doubtful that this will be appreciated, as the PTP are not crowing about this as yet.

[klauskunkel]

wondering how much Pheu Thai and Yingluck's cabinet have contributed to those donations...I mean having profited from the scam there should be an impetus to give back a little, so that some farmers may survive and the circle can continue, sustainability!

[rubl]

wondering how much Pheu Thai and Yingluck's cabinet have contributed to those donations...I mean having profited from the scam there should be an impetus to give back a little, so that some farmers may survive and the circle can continue, sustainability!

One may be excused to wonder if this is used by some as a nice laundry scheme.

[mrtoad]

What an absolute shame, that the public are now being scammed a second time, by having to bail out the mess that PTP have created by their Rice Scam. Sad state of affairs.

[NeilSA1]

This shows the other face of Thainess. Well done.

[Fat Haggis]

It is good to see the majority that want reform before elections helping out the rice farmers. I always wonder had the PTP known the gravity of this senseless hopelessness that the farmers are feeling now and the desperate precarious situation the PTP have placed them in, would they have been fiscally responsible within this rice scheme or at the least ensured a loan was accessed before they dissolved. I think not because that would mean they admit they lied to the public when they said they had the money within budget. They have scarified the livelihoods of millions of farmers to save face and now they ignore them. Call them fake or intimidate them if they protest.

Good to see the majority step up to the plate of responsibly democracy, sweep the dictatorial sand off it and hit the ball of corruption thrown by Suthep out of the field never to be seen again.

The majority have spoken through their wallets here. Time for people to accept the majorities voice now.

Did you personally put your hands in your pockets to help out then ? Or are you more inclined to give them books?

Considering you have NO IDEA who and where all these donations came from, saying they came from a Majority is pretty stupid.

The donations came from people from all walks of life, and parties, but nice of you to put the same "Majority" spin on this as you have been doing everywhere else. It's a great show of support from the Thai public across the divide, so well done, great effort.

Call for a referendum Jamie, let the people prove who's the majority and if the reforms before elections group is the majority, then let the reforms begin, but to constantly keep referring to a "majority" without any vote or referendum take place, is pretty stupid, prove to all of us doubters through either an election or a referendum that what you've been saying and preaching is correct, and if it is, I'll buy you beers all night for a week!!

[surangw]

how much will "filter down" to the farmers?

[bangon04]

This shows the other face of Thainess. Well done.

Yes. Despite all the reasons to believe their contributions may be squandered by corrupt and incompetent officials , some people in Thailand still believe they can do good by donating money (cash) to a cause... Truly heartwarming...