Thaksin Assigns Related Agencies To Solve Farmers’ Debt Problem

[Jai Dee]

PM Thaksin assigns related agencies to solve farmers’ debt problem

Prime Minister Thaksin Shinawatra has assigned relevant agencies to urgently solve the agriculturists’ debt problems.

The premier said in regard to the verdict of the Office of the Council of State that agriculturists’ rehabilitation fund is unable to issue bonds of 8.8 billion baht to solve farmers’ debt problems, following the resolution of the Cabinet.

He said that he would check into the legal provision to seek what else can be done.

However, he believes there should not be any problem, and other fundraising methods will be implemented.

Source: Thai National News Bureau Public Relations Department - 06 June 2006

[sriracha john]

PM Thaksin assigns related agencies to solve farmers’ debt problem

Prime Minister Thaksin Shinawatra has assigned relevant agencies to urgently solve the agriculturists’ debt problems.

The premier said in regard to the verdict of the Office of the Council of State that agriculturists’ rehabilitation fund is unable to issue bonds of 8.8 billion baht to solve farmers’ debt problems, following the resolution of the Cabinet.

He said that he would check into the legal provision to seek what else can be done.

However, he believes there should not be any problem, and other fundraising methods will be implemented. As an example of assigning the related agencies to solve the problem, he has directed the Treasury Department to immediately increase the printing of 1,000 bank notes in order to deal with the shortfall in the rehabilitation fund as well ordered the Finance Ministry to make appropriate white-out corrections in their ledgers.

Source: Thai National News Bureau Public Relations Department - 06 June 2006

[teletiger]

" Prime Minister Thaksin Shinawatra has assigned relevant agencies to urgently solve the agriculturists’ debt problems."

Has he assigned the corruption agency to look into the theft of 35 billion baht of Thailands assets? As CEO of Thailand PLC it was his DUTY to collect those taxes. Champion of the poor?? He sickens me.

regards

[teletiger]

OK.....maybe I was a little hard on the guy.......or maybe not

regards

[britmaveric]

Give them additional loans would be the PM's solution!

[farangsay]

Is this a problem with the thirty trillion baht village fund ?

Or is it a problem with those farmers who were made CEO of their 100 sq m of

land and borrowed umpty trillion baht against it ?

or what ?

Why cant all these people be highly succesful capitalists like the good doctor ?

I'm sure he can't understand , and neither can I.

[sriracha john]

UPDATE

Another failed Thaksin "program"... as hundreds of thousands of farmers were facing the loss of millions of rai of farmland... no doubt to have been bought up at auction by "those associated with the former, ex, previous, resigned, head-butted out PM". Yeah... real good "friend of the poor".... real nice "benefactor to the farmers" he turned out to be:

AGRICULTURE PROPERTY CONFISCATIONS SUSPENDED

Indebted farmers can now keep land, government says

The government yesterday pledged to suspend the confiscation of indebted farmers' land mortgaged with state-run financial institutions, as part of its debt-relief efforts. The move followed a meeting between Prime Minister Surayud Chulanont and farmer representatives led by Bamrung Khayotha and Somkiat Pongpaiboon. About 38 million rai of land was on the brink of being seized and put up for auction by state-run and private banks as the farmers had failed to service their debts. ''This is shocking and certainly demands government intervention. Initially, we can suspend seizure and auction of land mortgaged with state banks or state enterprises,'' Gen Surayud said. The measure would promptly benefit farmers who mortgaged their properties with the Bank of Agriculture and Agricultural Cooperatives. Gen Surayud said this was an urgent action the government could take to help indebted farmers. He said the fund had apparently failed as farm debts have continued to grow over the years. Son Roopsung, a farmers' representative, yesterday blamed political interference for the board's incompetency in fund management.

Continued here:

http://www.bangkokpost.com/News/23Nov2006_news05.php

==============================================================

Surayud vows to suspend land auctions, help farmers

PM shocked that millions of rai may be sold; 300,000 farmers in debt

Prime Minister Surayud Chulanont promised yesterday to suspend any move that would see indebted farmers' land auctioned off by state agencies or enterprises that hold mortgages as collateral for loans.

Currently, 330,000 indebted farmers are on the verge of losing their land because of mortgage loans they have been unable to repay.

Independent academic Somkiat Pongpaiboon said if the Farmers' Rehabilitation and Development Fund was assigned to buy these debts from moneylenders, it would cost about Bt6 billion.

Surayud, however, explained that his government could take immediate action by suspending impending land auctions by state agencies or enterprises.

He said Deputy Prime Minister and Industry Minister Kosit Panpiemras would ensure the suspension through debt negotiation and other measures.

Surayud said most farmers owed money to the Bank for Agriculture and Agricultural Cooperatives (BAAC) and other government-owned banks.

Although the government had no authority over private banks, the PM believed the government would be able to ask for their cooperation to help some farmers who owed money. "In the meantime, we will also continue to look for other measures," he said.

Surayud admitted it was a shock to learn that more than 38 million rai of farmers' land had been mortgaged. He was speaking after more than 50 small-scale farmers from 15 provinces called on him to air their concerns. The premier, Kosit and Agriculture and Cooperatives Minister Thira Sutabutra met with the farmers' representatives for an hour.

On other planned measures, Surayud said the Farmers' Rehabilitation and Development Act should be amended to better respond to the current situation. He said the Agriculture Ministry would take care of the law amendment, while the fund's members could help the process.

In response to the farmers' plea and Surayud's policy, Kosit said guidelines would also be urgently laid down on how to replace board members for the Farmers' Rehabilitation and Development Fund, who are due to complete their term on December 2.

Son Roobsoong, who formerly chaired the fund's board, said a review on how to select new members was necessary. The board has seven members but only two are farmers' representatives.

Academic Somkiat said relevant authorities should look into the BAAC's operations. It was now Bt800 billion richer than when set up more than 30 years ago. "It has become much richer and it still continues to take land from farmers," he said.

- The Nation

----------------------------------------------------------------------------------------------

The Thaksin Legacy grows darker and more sinister with each passing day.

Edited November 23, 2006 by sriracha john

[chownah]

UPDATE

Another failed Thaksin "program"... as hundreds of thousands of farmers were facing the loss of millions of rai of farmland... no doubt to have been bought up at auction by "those associated with the former, ex, previous, resigned, head-butted out PM". Yeah... real good "friend of the poor".... real nice "benefactor to the farmers" he turned out to be:

AGRICULTURE PROPERTY CONFISCATIONS SUSPENDED

Indebted farmers can now keep land, government says

The government yesterday pledged to suspend the confiscation of indebted farmers' land mortgaged with state-run financial institutions, as part of its debt-relief efforts. The move followed a meeting between Prime Minister Surayud Chulanont and farmer representatives led by Bamrung Khayotha and Somkiat Pongpaiboon. About 38 million rai of land was on the brink of being seized and put up for auction by state-run and private banks as the farmers had failed to service their debts. ''This is shocking and certainly demands government intervention. Initially, we can suspend seizure and auction of land mortgaged with state banks or state enterprises,'' Gen Surayud said. The measure would promptly benefit farmers who mortgaged their properties with the Bank of Agriculture and Agricultural Cooperatives. Gen Surayud said this was an urgent action the government could take to help indebted farmers. He said the fund had apparently failed as farm debts have continued to grow over the years. Son Roopsung, a farmers' representative, yesterday blamed political interference for the board's incompetency in fund management.

Continued here:

http://www.bangkokpost.com/News/23Nov2006_news05.php

==============================================================

Surayud vows to suspend land auctions, help farmers

PM shocked that millions of rai may be sold; 300,000 farmers in debt

Prime Minister Surayud Chulanont promised yesterday to suspend any move that would see indebted farmers' land auctioned off by state agencies or enterprises that hold mortgages as collateral for loans.

Currently, 330,000 indebted farmers are on the verge of losing their land because of mortgage loans they have been unable to repay.

Independent academic Somkiat Pongpaiboon said if the Farmers' Rehabilitation and Development Fund was assigned to buy these debts from moneylenders, it would cost about Bt6 billion.

Surayud, however, explained that his government could take immediate action by suspending impending land auctions by state agencies or enterprises.

He said Deputy Prime Minister and Industry Minister Kosit Panpiemras would ensure the suspension through debt negotiation and other measures.

Surayud said most farmers owed money to the Bank for Agriculture and Agricultural Cooperatives (BAAC) and other government-owned banks.

Although the government had no authority over private banks, the PM believed the government would be able to ask for their cooperation to help some farmers who owed money. "In the meantime, we will also continue to look for other measures," he said.

Surayud admitted it was a shock to learn that more than 38 million rai of farmers' land had been mortgaged. He was speaking after more than 50 small-scale farmers from 15 provinces called on him to air their concerns. The premier, Kosit and Agriculture and Cooperatives Minister Thira Sutabutra met with the farmers' representatives for an hour.

On other planned measures, Surayud said the Farmers' Rehabilitation and Development Act should be amended to better respond to the current situation. He said the Agriculture Ministry would take care of the law amendment, while the fund's members could help the process.

In response to the farmers' plea and Surayud's policy, Kosit said guidelines would also be urgently laid down on how to replace board members for the Farmers' Rehabilitation and Development Fund, who are due to complete their term on December 2.

Son Roobsoong, who formerly chaired the fund's board, said a review on how to select new members was necessary. The board has seven members but only two are farmers' representatives.

Academic Somkiat said relevant authorities should look into the BAAC's operations. It was now Bt800 billion richer than when set up more than 30 years ago. "It has become much richer and it still continues to take land from farmers," he said.

- The Nation

----------------------------------------------------------------------------------------------

The Thaksin Legacy grows darker and more sinister with each passing day.

What are you talking about????!! This is not a Toxin program at all!! This is just some farmers who went to the banks and mortgaged their property and now they either can't or won't pay it back. Is Toxin to be held responsible for every poor management decision made by every farmer it Thailand???? I think not... And, by the way, my sister in law is one of those "farmers"....she is a member of BAAC and visited her a few days ago..part of her visit was to do some business with the bank. I didn't ask her what the business was and neither did anyone else since it is not considered polite around here to ask such questions. She did talk a bit about the bank..how it was a cooperative and how you had to be a member to use its services and how she was a member...about how she had a loan from them at a really really low rate...about how she applied for a loan for pig farming...and she smiled....because....this woman has never farmed a day in her life and has never managed a farming enterpise ever....she's a retail merchant in Bangkok. Now should Toxin be held responsible for this corruption??? Technically if she defaulted they would sieze some land but she has the ability to pay anytime she chooses....but why should she since she has a next to nothing interest rate and all she usually has to do is to sign a paper and the loan gets rolled over. This provides some extra capital for her businesses......and.....now.....the new gov't is going to help to "bail her out"!!!!!!!!! EXCELLENT!!!!

In Thailand things are not always what they seem and it is difficult for us foreigners to figure out what is really going on.

Chownah

P.S. 330,000 indebted farmers having mortgaged 38,000,000 rai of land means that the AVERAGE amount of land for each mortgage is over 100 rai....and this is the average. My sister in law has only a couple of rai tied up in her loan and is probably typical of alot of small farmers who took out small loans.......so.....this means that there are a bunch of people with mortgages out on properites much much bigger than 100 rai....definitely not the poor farmer that may have come to some people's minds when they read the article and the comments. And let's not forget that many people own more than one piece of land and they only mortgaged one piece out of many!!!! It would be really interesting to get a list of the properties and owners starting with the biggest pieces and with the largest mortgages....I bet you would find the families of key people on all sides of the Thai political frontier both past and present.....and they are all going to be bailed out!!!! EXCELLENT!!!!

Chownah

Edited November 23, 2006 by chownah

[hammered]

UPDATE

Another failed Thaksin "program"... as hundreds of thousands of farmers were facing the loss of millions of rai of farmland... no doubt to have been bought up at auction by "those associated with the former, ex, previous, resigned, head-butted out PM". Yeah... real good "friend of the poor".... real nice "benefactor to the farmers" he turned out to be:

AGRICULTURE PROPERTY CONFISCATIONS SUSPENDED

Indebted farmers can now keep land, government says

The government yesterday pledged to suspend the confiscation of indebted farmers' land mortgaged with state-run financial institutions, as part of its debt-relief efforts. The move followed a meeting between Prime Minister Surayud Chulanont and farmer representatives led by Bamrung Khayotha and Somkiat Pongpaiboon. About 38 million rai of land was on the brink of being seized and put up for auction by state-run and private banks as the farmers had failed to service their debts. ''This is shocking and certainly demands government intervention. Initially, we can suspend seizure and auction of land mortgaged with state banks or state enterprises,'' Gen Surayud said. The measure would promptly benefit farmers who mortgaged their properties with the Bank of Agriculture and Agricultural Cooperatives. Gen Surayud said this was an urgent action the government could take to help indebted farmers. He said the fund had apparently failed as farm debts have continued to grow over the years. Son Roopsung, a farmers' representative, yesterday blamed political interference for the board's incompetency in fund management.

Continued here:

http://www.bangkokpost.com/News/23Nov2006_news05.php

==============================================================

Surayud vows to suspend land auctions, help farmers

PM shocked that millions of rai may be sold; 300,000 farmers in debt

Prime Minister Surayud Chulanont promised yesterday to suspend any move that would see indebted farmers' land auctioned off by state agencies or enterprises that hold mortgages as collateral for loans.

Currently, 330,000 indebted farmers are on the verge of losing their land because of mortgage loans they have been unable to repay.

Independent academic Somkiat Pongpaiboon said if the Farmers' Rehabilitation and Development Fund was assigned to buy these debts from moneylenders, it would cost about Bt6 billion.

Surayud, however, explained that his government could take immediate action by suspending impending land auctions by state agencies or enterprises.

He said Deputy Prime Minister and Industry Minister Kosit Panpiemras would ensure the suspension through debt negotiation and other measures.

Surayud said most farmers owed money to the Bank for Agriculture and Agricultural Cooperatives (BAAC) and other government-owned banks.

Although the government had no authority over private banks, the PM believed the government would be able to ask for their cooperation to help some farmers who owed money. "In the meantime, we will also continue to look for other measures," he said.

Surayud admitted it was a shock to learn that more than 38 million rai of farmers' land had been mortgaged. He was speaking after more than 50 small-scale farmers from 15 provinces called on him to air their concerns. The premier, Kosit and Agriculture and Cooperatives Minister Thira Sutabutra met with the farmers' representatives for an hour.

On other planned measures, Surayud said the Farmers' Rehabilitation and Development Act should be amended to better respond to the current situation. He said the Agriculture Ministry would take care of the law amendment, while the fund's members could help the process.

In response to the farmers' plea and Surayud's policy, Kosit said guidelines would also be urgently laid down on how to replace board members for the Farmers' Rehabilitation and Development Fund, who are due to complete their term on December 2.

Son Roobsoong, who formerly chaired the fund's board, said a review on how to select new members was necessary. The board has seven members but only two are farmers' representatives.

Academic Somkiat said relevant authorities should look into the BAAC's operations. It was now Bt800 billion richer than when set up more than 30 years ago. "It has become much richer and it still continues to take land from farmers," he said.

- The Nation

----------------------------------------------------------------------------------------------

The Thaksin Legacy grows darker and more sinister with each passing day.

What are you talking about????!! This is not a Toxin program at all!! This is just some farmers who went to the banks and mortgaged their property and now they either can't or won't pay it back. Is Toxin to be held responsible for every poor management decision made by every farmer it Thailand???? I think not... And, by the way, my sister in law is one of those "farmers"....she is a member of BAAC and visited her a few days ago..part of her visit was to do some business with the bank. I didn't ask her what the business was and neither did anyone else since it is not considered polite around here to ask such questions. She did talk a bit about the bank..how it was a cooperative and how you had to be a member to use its services and how she was a member...about how she had a loan from them at a really really low rate...about how she applied for a loan for pig farming...and she smiled....because....this woman has never farmed a day in her life and has never managed a farming enterpise ever....she's a retail merchant in Bangkok. Now should Toxin be held responsible for this corruption??? Technically if she defaulted they would sieze some land but she has the ability to pay anytime she chooses....but why should she since she has a next to nothing interest rate and all she usually has to do is to sign a paper and the loan gets rolled over. This provides some extra capital for her businesses......and.....now.....the new gov't is going to help to "bail her out"!!!!!!!!! EXCELLENT!!!!

In Thailand things are not always what they seem and it is difficult for us foreigners to figure out what is really going on.

Chownah

P.S. 330,000 indebted farmers having mortgaged 38,000,000 rai of land means that the AVERAGE amount of land for each mortgage is over 100 rai....and this is the average. My sister in law has only a couple of rai tied up in her loan and is probably typical of alot of small farmers who took out small loans.......so.....this means that there are a bunch of people with mortgages out on properites much much bigger than 100 rai....definitely not the poor farmer that may have come to some people's minds when they read the article and the comments. And let's not forget that many people own more than one piece of land and they only mortgaged one piece out of many!!!! It would be really interesting to get a list of the properties and owners starting with the biggest pieces and with the largest mortgages....I bet you would find the families of key people on all sides of the Thai political frontier both past and present.....and they are all going to be bailed out!!!! EXCELLENT!!!!

Chownah

This bail out is no different from the bailouts under the previous government, or the one before that or.....