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TDRI says Yingluck’s rice pledging scheme causes almost a trillion baht loss


Lite Beer

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Getting use to these stories and more to come.

A well planned coordinated campaign being orchestrated from above to try and turn the voting public against Yingluck and the PTP.

There can't be any protest as in another article martial law and meetings of groups of 5 is still banned.

All one way traffic at the moment with only legal resistance to the onslaught of bias media.

I don't think Yingluck will be impeached as she is far to popular and it would set the reconciliation process on its ear.

If no charges are brought soon then times up and hopefully she will stand again and let the people of Thailand show her detractors just how popular her and her party is.

It would seem you do not get about much. Walk around Chiang Mai. No one really likes that E-yingluck cow any more.

I think you and a few on here are her only loyal supporters left - well the ones not getting paid to show up that is

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Yingluck has to go to jail. Whatever the maximum sentence that can be imposed should be imposed. Her lack of oversight of the rice scheme is mind boggling!

She won't. I am also willing to bet they do not even bother to impeach her.

This junta seems to have lost the will to go after the corruption that plagues the kingdom, assuming they ever had it to begin with.

I suspect nothing is going to change and it will be back to business as usual real soon. If the good general was serious about reform, he would have jumped on the RTP over the Koh Tao debacle. That he did nothing, and even went so far as to praise them, pretty much says it all.

One thing that seems to go unnoticed in the haste to vilify the previous government is the cost of the protests, marital law and a coup on the country. According to the economist, a coup cost about 7% of GDP, 808 billion baht!!!! (http://www.economist.com/blogs/banyan/2014/10/thailands-economy)

The members of the triumphant mob that cheered the army to power are still enjoying their victory. Playing politics with the economy is an expensive business. The costs to Thailand’s economy are still piling up. Compared with trend economic growth the cost will be perhaps $20 billion to $30 billion from 2014 to 2016, which makes it roughly equal in value to the wealth of the Thai monarchy. One can only hope the junta’s upcoming performance is good enough to offset such a loss.

It took the previous government 3 years to accumulate this loss, but actions by the current regime will accomplish this in two! Add in the loss of growth resulting from Suthep's long drawn out protests and election blocking, and the total loss to society could top 1 trillion.

Who is going to be held accountable for this? And before blaming PTP for all that has happened, there were other avenues besides a coup available to resolve the issues in this country.

Brucey Babe, the WORLD economy is STUFFED. Not just Thailand. Look at poor old Russia? they have dropped a few trillion. Thailand's TRADE would have dropped regardless because of world economics. NO ONE is banning cars, or products. TOURISM is stuffed because no man woman or child has the money.

Chinese do not maketh the money go round and LARGE numbers of Chinese do not equal one plane load of Europeans for SPENDING power.

The Thai TOURIST economy may have suffered by the coup but not overseas trade.

Where does any country say "OOOH COUP noyt buying Toyota now"?

These numbers apply to all the coups, with the world in various states of disarray during each reset. World events impact to a certain extent, but the majority of the growth loss is directly attributed to the coup. Try reading the article rather than just spew the standard nonsense when trying to justify that the coup and martial law has no impact on the economy here. And no need for capital letters to justify a weak argument.

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Come on, let's get the audited figures instead of continuous speculation from people like Dr. Nipon or Dr. Warong. what happen to the big hoohah on corruption. Nothing heard so far. Yes there are losses but how much is still as unknown as the little green man in Mars.

I can see the Generals and BIG WIGS lining up now to meet the FBI forensic accounting team.

Just like they are waiting to have TRANSPARENCY in the Kao Tao case

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The Economist magazine. Yes the wonderful people who make sure we never have a CRASH. Ummm I think I will watch Sy Fy

Yingluck has to go to jail. Whatever the maximum sentence that can be imposed should be imposed. Her lack of oversight of the rice scheme is mind boggling!


She won't. I am also willing to bet they do not even bother to impeach her.

This junta seems to have lost the will to go after the corruption that plagues the kingdom, assuming they ever had it to begin with.

I suspect nothing is going to change and it will be back to business as usual real soon. If the good general was serious about reform, he would have jumped on the RTP over the Koh Tao debacle. That he did nothing, and even went so far as to praise them, pretty much says it all.



One thing that seems to go unnoticed in the haste to vilify the previous government is the cost of the protests, marital law and a coup on the country. According to the economist, a coup cost about 7% of GDP, 808 billion baht!!!! (http://www.economist.com/blogs/banyan/2014/10/thailands-economy)

The members of the triumphant mob that cheered the army to power are still enjoying their victory. Playing politics with the economy is an expensive business. The costs to Thailand’s economy are still piling up. Compared with trend economic growth the cost will be perhaps $20 billion to $30 billion from 2014 to 2016, which makes it roughly equal in value to the wealth of the Thai monarchy. One can only hope the junta’s upcoming performance is good enough to offset such a loss.

It took the previous government 3 years to accumulate this loss, but actions by the current regime will accomplish this in two! Add in the loss of growth resulting from Suthep's long drawn out protests and election blocking, and the total loss to society could top 1 trillion.

Who is going to be held accountable for this? And before blaming PTP for all that has happened, there were other avenues besides a coup available to resolve the issues in this country.

Brucey Babe, the WORLD economy is STUFFED. Not just Thailand. Look at poor old Russia? they have dropped a few trillion. Thailand's TRADE would have dropped regardless because of world economics. NO ONE is banning cars, or products. TOURISM is stuffed because no man woman or child has the money.

Chinese do not maketh the money go round and LARGE numbers of Chinese do not equal one plane load of Europeans for SPENDING power.

The Thai TOURIST economy may have suffered by the coup but not overseas trade.

Where does any country say "OOOH COUP noyt buying Toyota now"?

These numbers apply to all the coups, with the world in various states of disarray during each reset. World events impact to a certain extent, but the majority of the growth loss is directly attributed to the coup. Try reading the article rather than just spew the standard nonsense when trying to justify that the coup and martial law has no impact on the economy here. And no need for capital letters to justify a weak argument.
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" ...assumption that the remaining 17 million tons of rice in the stocks are sold out in the next 10 years."

A big IF. In July 2014 Gen. Prayuth stated the government will sell 500,000 tons per month of government rice stockpile created by the Yingluck rice pledge program. The government will take 7-10 years to payoff the debt created by the subsidy paid to the rice farmers. Maybe TDRI got confused.

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And who determines if the rice is good, low or bad quality? What happens to the rice that's determined 'bad'. Who is to say that someone isn't fiddling the books at the moment, using the rice pledge scheme / management as an all to easy scapegoat for increasing losses?

No government officials check and certified all rice taken in.

These government officials did not take bribe, and need not be prosecuted.

Only Yingluck hop from warehouse to warehouse collecting bribe, and sign and certify low quality rice as high quality.

She deserves to be jailed.

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Amazed, shocked and stunned ... not at all and anyone who is doesn't know how Thai society operates. Like anything else the government touches it is bathed in corruption. The truth is that the cycle of elected government and military junta will continue to be played out until the country is finally bankrupted and plunged into civil war ... by which time all those who made vast sums of money on the backs of the misery they peddle will be flying out on their private jets.

Sometimes you want to feel sorry for the average Thai on the street; after all they have nothing and spend all their time looking up to the riches above. Unfortunately each and every one of them would be f*&^ing someone else over, even killing them, for a slice of the pie.

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And who determines if the rice is good, low or bad quality? What happens to the rice that's determined 'bad'. Who is to say that someone isn't fiddling the books at the moment, using the rice pledge scheme / management as an all to easy scapegoat for increasing losses?

No government officials check and certified all rice taken in.

These government officials did not take bribe, and need not be prosecuted.

Only Yingluck hop from warehouse to warehouse collecting bribe, and sign and certify low quality rice as high quality.

She deserves to be jailed.

"Only Yingluck hop from warehouse to warehouse collecting bribe, and sign and certify low quality rice as high quality."

Do you ever consider the content of your posts before you click on the reply button?

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One thing that seems to go unnoticed in the haste to vilify the previous government is the cost of the protests, marital law and a coup on the country. According to the economist, a coup cost about 7% of GDP, 808 billion baht!!!! (http://www.economist.com/blogs/banyan/2014/10/thailands-economy)

The members of the triumphant mob that cheered the army to power are still enjoying their victory. Playing politics with the economy is an expensive business. The costs to Thailand’s economy are still piling up. Compared with trend economic growth the cost will be perhaps $20 billion to $30 billion from 2014 to 2016, which makes it roughly equal in value to the wealth of the Thai monarchy. One can only hope the junta’s upcoming performance is good enough to offset such a loss.

It took the previous government 3 years to accumulate this loss, but actions by the current regime will accomplish this in two! Add in the loss of growth resulting from Suthep's long drawn out protests and election blocking, and the total loss to society could top 1 trillion.

Who is going to be held accountable for this? And before blaming PTP for all that has happened, there were other avenues besides a coup available to resolve the issues in this country.

Hush, please, otherwise one will need to add that to Thaksin's YS/PTP/UDD's 'government''s bill too, as it is evidently clear to all not wearing ruby coated glasses that these protests would never possibly have happened when and if the people inside (not to speak about the ones behind) that 'government' would have been 'governing', a bit, and, a bit, for all Thais, instead of focussing on robbing this country blind for their own profit, even allowing themselves to steal away a big chunk of the tax payers' money they devoted to desastrous 'populist policies' to please their hunchmen and 'electorate'; no way so many people, a lot of not politically-engaged before, could have been, and for such a long time, motivated to protest! So, don't attempt to divert the attention from Dr Thaksin's biblically huge rice scam's losses (for the country, not for him, nota bene), please. No politically coloured intox, please!!

There were many alternatives to a coup. You can't hang that one on the previous government. The cost of the coup equals the rice scheme loss, and the cost of the coup falls squarely on the ones who staged the coup.

It was about the protests, wasn't it? But now that you mention the 'coup', yes, that too would also not have happened (IMO: not have needed to happen), when and if the people inside (not to speak about the ones behind) that 'government', etcetera, the rest I wrote about hereabove applies here too in the same, sad, logical, follow-up of dramatic events, with the same single, one, 'group of people' bearing the full responsibily because of MAKING IT all happen! So, IMO, one could realistically put the cost of the coup on the same TS/YS/Shins/PTP/UDD's bill too... Thank you 'bruce64'!

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Not bad for a scam positioned as "self-financing' and meant to help poor farmers. Allegedly that is.

can someone do a survey how many poor farmer were really helped. I would guess only the rich farmer with connection got most of the money

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Farther to my deleted post; I will now post one of the articles I posted previously with links to this site showing that senior members of the PT Govt are indeed being investigated in relation to the scheme.

Anti-graft agency probing rice deals, links to ministers http://www.thaivisa.com/forum/topic/742567-anti-graft-agency-probing-rice-deals-links-to-thai-ministers/

Posted 2014-07-14 06:45:07

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Anti-graft agency probing rice deals, links to ministers
The Nation

BANGKOK: -- The National Anti-Corruption Commission sub-panel is deeply probing alleged irregularities in the rice-pledging scheme's financial transactions to identify possible nominees linked to five former ministers under investigation, NACC deputy secretary-general Warawit Sukboon said yesterday.


Facing graft probes in connection with the rice-pledging scheme are ex-PM Yingluck Shinawatra, ex-commerce ministers Niwatthamrong Boonsongpaisan, Boonsong Teriyapirom and Yanyong Phuangrach and former deputy commerce minister Poom Sarapol.

Warawit said the NACC was waiting for more information from banks and relevant state agencies.

He said all the information would be further examined in depth through analyses and syntheses to identify any irregularities in the financial transactions made by the five ex-officials before they assumed and left their post.

He said the graft panel would also interrogate parents, spouses and children and other people linked to the five to see if there were any suspicions they could have acted as nominees.

The panel would meet twice a month to expedite the investigation.

If there were evidence the five had become unusually rich, the NACC would request that the Attorney General indict them and confiscate their assets. Warawit said the NACC could directly file petitions with the Supreme Court to prosecute them if it had suspicions that any of them had committed asset concealment or submitted a false asset declaration.

ML Panadda Diskul, permanent secretary of the Prime Minister's Office, yesterday led a team of officials to inspect Udon Thani rice warehouses with thousands of sacks of pledged rice under the rice-pledging scheme and found that 25 sacks of broken rice were missing.

Panadda said his team did not find any irregularities as the number of missing sacks was much lower than 5 per cent of the total number of sacks and therefore the warehouses would not be probed further.

He said some sacks were infested with weevils and at one stage the inspection team - which included military officers - had to flee a warehouse after being swarmed by weevils.

The team used a forklift to ensure there were no attempts to cover up rice theft.

Previous checks had found that some warehouses managers had tried to deceive officials by neatly piling rice sacks several metres high to form a four-sided wall but it was hollow inside the wall.

Panadda rejected criticism that the inspections were politically motivated, saying they were part of the move to regulate the rice sector to bring Thai rice back to glory.

Source: http://www.nationmul...i-30238416.html

I cant find a link on this site to the fact that that the previous ministers and 13 others have now been charged but it did appear in other publications.

However the headline from the topic :

http://www.thaivisa.com/forum/topic/757870- ex-commerce-ministers-secretary-faces-charges-over-fake-g-to-g-rice-deals/ DSI probes graft allegations in govt's rice-pledging scheme

BANGKOK: -- The National Anti-Corruption Commission (NACC) has decided to lodge malfeasance and other criminal charges against former secretary of ex-commerce minister Boonsong Teriyapirom for alleged involvement in fake government-to-government rice deals with two Chinese state enterprises.

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Not bad for a scam positioned as "self-financing' and meant to help poor farmers. Allegedly that is.

It must be like xmas for you rubl - now you can write 1000++ in your interminable posts about revolving rice funds............................coffee1.gif

Interesting comment from a dyed-in-the-wool Thaksin apologist with more than 4000 posts mostly supporting the corrupt former regime.

Look in the mirror first.

That's kind of my point. My comments are interesting, or at least provoke some debate, otherwise why would you have bothered to reply? The same, however, cannot be said for rubl's never-ending posts on the rice subsidy scheme which comprise 700++ this, 700++ that, revolving funds, rinse and repeat ad nauseam.......................coffee1.gif

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Come on, let's get the audited figures instead of continuous speculation from people like Dr. Nipon or Dr. Warong. what happen to the big hoohah on corruption. Nothing heard so far. Yes there are losses but how much is still as unknown as the little green man in Mars.

I can see the Generals and BIG WIGS lining up now to meet the FBI forensic accounting team.

Just like they are waiting to have TRANSPARENCY in the Kao Tao case

Audited figures must be a scary word for the rich generals and the NLA. But scare not as they can chose who should be audited and who are not required. That's precisely the political situation in this country. There are those who can decide who the courts and the NLA can rule. Others in the way will never have the same privilege and will be shoved aside hashly so they do not de-stablise the establishment.

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Come on, let's get the audited figures instead of continuous speculation from people like Dr. Nipon or Dr. Warong. what happen to the big hoohah on corruption. Nothing heard so far. Yes there are losses but how much is still as unknown as the little green man in Mars.

Absolutely. If only the Yingluck Administration hadn't been so negligent as to leave no accounting for nearly a trillion Baht spent. It's getting close to being real criminal, wouldn't you say ?

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Interesting comment from a dyed-in-the-wool Thaksin apologist with more than 4000 posts mostly supporting the corrupt former regime.

Look in the mirror first.

That's kind of my point. My comments are interesting, or at least provoke some debate, otherwise why would you have bothered to reply? The same, however, cannot be said for rubl's never-ending posts on the rice subsidy scheme which comprise 700++ this, 700++ that, revolving funds, rinse and repeat ad nauseam.......................coffee1.gif

The truth hurts, doesn't it?

BTW if you need half truths and selective quoting to generate interest, I'd rather you quote the whole truth. Seems that provokes even more.

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Yingluck has to go to jail. Whatever the maximum sentence that can be imposed should be imposed. Her lack of oversight of the rice scheme is mind boggling!

She won't. I am also willing to bet they do not even bother to impeach her.

This junta seems to have lost the will to go after the corruption that plagues the kingdom, assuming they ever had it to begin with.

I suspect nothing is going to change and it will be back to business as usual real soon. If the good general was serious about reform, he would have jumped on the RTP over the Koh Tao debacle. That he did nothing, and even went so far as to praise them, pretty much says it all.

You're showing signs of the frog under the coconut shell that people blame Thais for. Do you really think the murder of 2 people, in a country of 66 million that has murders everyday, should occupy the good General's time? Just because they're Brits? Are Brit lives more important? Get real.

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The naysayers ( such as myself) knew the numbers were going to be

bad , but had no idea would be this bad. I look forward to General

Prayut putting together a forensic accounting team, and figure out

exactly where all the money went. Should be easy to track

who the government money went to .

Oh sorry was daydreaming for a minute. As near as I can

tell no one is really punished here, as the ones on top doing the punishing

may be on the witness stand one day, so there is an understanding to

not really bring people to justice. This scheme was so large it went

all the way to the top of Thai society. So in the end no one will be punished,

well perhaps a few small millers will be thrown under the bus for show...

How dare those Cambodians and Burmese sneak their rice into this scheme and lower the quality.....

"By end of October 31 this year, it was found that 85% of rice in the stocks have lower quality than normal standard. This low quality rice resulted in the loss of 660 billion baht to the state from the pledging scheme."

Where did the MONEY GO?

What was that old saying about, "All Roads Lead to Rome...or in this instance, perhaps to DUBAI?"

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<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Yingluck has to go to jail. Whatever the maximum sentence that can be imposed should be imposed. Her lack of oversight of the rice scheme is mind boggling!

I do not like Yingluck but having said that I am sure glad you are not on my jury You have hanged and sentenced her before the jury is in. People like you who live on emotion and not fact are dangerous.

I suppose you would have hung the delivery man who delivered the death notice by mail.

I am so glad I do not know you

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