Thai rice-pledging schemes cause 682 billion baht loss

[webfact]

Rice-pledging schemes cause 682 billion baht loss



BANGKOK: -- The Finance Ministry has finished closing entries of accountings for 15 rice-pledging schemes implemented since 2004 to 2014 with loss amounted to 682 billion baht.

But four pledging schemes implemented under the Yingluck government alone inflicted 510 billion baht loss.

The ministry’s permanent secretary Mr Rangsan Sriworasart, chairman of the rice pledging scheme closing entries subcommittee, said more than 85 million tons of rice were pledged under 15 pledging schemes launched by the governments from 2004 to 2014.

A total 1.1 trillion baht of budget had been spent for the 15 schemes.

He said after closing entries of all accounts, it revealed 682 billion baht loss, with four schemes implemented under the Yingluck government suffering 510 billion baht loss, and the remainder 11 schemes inflicting 163 billion baht in accumulated damages.

He said there are still 19.2 million tons of rice in government stockpiles valued at 225 billion baht.

He said the total loss had already included the rotting rice stocks
which was estimated at 30 billion baht.

The Ministry will forward its findings to Prime Minister Gen Prayut Chan-o-cha for acknowledgement as soon as possible, he added.

Source: http://englishnews.thaipbs.or.th/rice-pledging-schemes-cause-682-billion-baht-loss/


-- Thai PBS 2014-11-13

[JOC]

Well done to the bimbo!!

Something for the grandchildren to pay back!!

[ginjag]

Well done to the bimbo!!

Something for the grandchildren to pay back!!

3 years in office and 15 years to pay back ???

[JOC]

He said the total loss had already included the rotting rice stocks
which was estimated at 30 billion baht.< Quote

According to the general 90% of the stock was rotten at a estimated value at 300 billion baht!!

Someone is not telling the truth!! Wonder who and why?? (rethorical question)

[lust]

She should have to pay the money back for this or be put to work doing labour for such a blunder. Maybe big brother can pitch in.

[Borzandy]

It's not my fault.

[JOC]

She should have to pay the money back for this or be put to work doing labour for such a blunder. Maybe big brother can pitch in.

She probably didn't even have a clue, that the ricepledging scheme excisted!!

[Suffinator]

Did the morons expect it to make a profit? The money wasn't truly lost it just ended up in the pockets of corrupt officials who will no doubt walk away from this scam with a big smile on their faces.

What a country! If I was Thai I'd never admit it.

[Pattaya28]

Outrageous !!!

[Tatsujin]

Not a problem, they can seize back most of what Yingluck lost from all the cash Thaksin and his family have stolen over the years.

[PS2]

He said the total loss had already included the rotting rice stocks

which was estimated at 30 billion baht.< Quote

According to the general 90% of the stock was rotten at a estimated value at 300 billion baht!!

Someone is not telling the truth!! Wonder who and why?? (rethorical question)

He never said that, stop twisting facts so they fit your red manual.

On Tuesday, Prime Minister Prayut Chan-o-cha revealed the outcome of a nationwide rice audit led by ML Panadda Diskul, permanent secretary for the Prime Minister’s Office, that reported only 10% of the 18 million tonnes of rice was of good quality.

“The report shows 70% of the rice is tainted with a yellow colour, while the rest is in bad condition and not edible and should only be allocated for ethanol production,” said Gen Prayut.

For your question, you are not telling the truth.

http://www.bangkokbusinessbrief.com/2014/10/29/rice-audit-finds-90-substandard/#ixzz3Iw9ZkpSQ

Edited November 13, 2014 by PS2

[iReason]

Why so serious?

They told you it was a "scheme".

As in the verb...

[FireMedic]

Whoever is surprised, raise their hands.

[Commerce]

I wonder if the day is possible wherein Prayuth is so deeply in the shit that he invites Thaksin back home, to help him out. And suddenly, "Et tu Thaksin?"... as Prayuth succumbs to being a fart in a space suit.

[candide]

A fews days ago, it was 18 million tons of rice in stock and a total loss of 660 billion baht

http://englishnews.thaipbs.or.th/tdri-says-yinglucks-rice-pledging-scheme-causes-almost-trillion-baht-loss/

Now it's 19.2 million tons in stock and 510 billion bath loss

What will be the figures next week?

[northernjohn]

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

He said the total loss had already included the rotting rice stocks
which was estimated at 30 billion baht.< Quote

According to the general 90% of the stock was rotten at a estimated value at 300 billion baht!!

Someone is not telling the truth!! Wonder who and why?? (rethorical question) alt=whistling.gif>

See PS2 post number 11. Of course it was a rhetorical question you didn't really want the truth.

She should have to pay the money back for this or be put to work doing labour for such a blunder. Maybe big brother can pitch in.

She probably didn't even have a clue, that the ricepledging scheme excisted!!

I believe she knew but there is a strong chance she might not have known. she was and is not known for an abundance of brains.

Besides what's the big deal? Thaksin approved it.

[Pesche]

Guys! We are talking about FOOD here!

All this rotten rice could have fed so many..!

But no, we're talking money, f....g billions...

Sorry for my salt & pepper

[northernjohn]

I wonder if the day is possible wherein Prayuth is so deeply in the shit that he invites Thaksin back home, to help him out. And suddenly, "Et tu Thaksin?"... as Prayuth succumbs to being a fart in a space suit.

Wow a member for less than a month and already buying in to the Thaksin Deity myth.

Well done and very well thought out.

For your information Prayuth doesn't have to invite Thaksin to come home he is always welcome. In fact Thailand is willing to pay his way all expenses paid and give him free room and board for two years.

Now you can't fault Prayuth for not inviting him. He will in his two years of free room and board be allowed to share farts with many more similar minded men as he is. If he plays his cards right he might get to share more than his farts.

[retarius]

Who got all this money? The farmers didn't get it. Did the brokers get it? When Thailand was number one in rice exports I read that total rice exports were valued at $1 billion (30 billion baht). Now apparently someone has stolen almost 20 years worth of rice exports in only 4 years. Now Yingluck didn't get any....even the impeachers admit that....so who got nearly 600 billion baht....$20 billion US. It must be traceable if it is this big. Who in the rice trade has gotten unusually wealthy over the past 4 years? Why is there no effort to find out?

[Elmer Gantry]

A fews days ago, it was 18 million tons of rice in stock and a total loss of 660 billion baht

http://englishnews.thaipbs.or.th/tdri-says-yinglucks-rice-pledging-scheme-causes-almost-trillion-baht-loss/

Now it's 19.2 million tons in stock and 510 billion bath loss

What will be the figures next week?

Depends if they are using a Chinese made calculator or a branded name.

[loongdavid]

As an aside to this very contentious issue, cannot the mountains of rotting rice be turned into bio-fuel? Either that or bag it and sell it at rock bottom prices as bio-fertilizer.

[dru2]

Well done to the bimbo!!

Something for the grandchildren to pay back!!

Let me get this straight. I'm a Thai tax payer. Are you seriously congratulating Yingluck ("The Bimbo"?) for running up unsustainable national debt that my grandchildren (and possibly great grandchildren) will have to pay back?

Contradict me if I am wrong, but I believe that you too have a Thai family?

I fail to understand you.

[rickirs]

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

He said the total loss had already included the rotting rice stocks
which was estimated at 30 billion baht.< Quote

According to the general 90% of the stock was rotten at a estimated value at 300 billion baht!!

Someone is not telling the truth!! Wonder who and why?? (rethorical question) alt=whistling.gif>

He never said that, stop twisting facts so they fit your red manual.

On Tuesday, Prime Minister Prayut Chan-o-cha revealed the outcome of a nationwide rice audit led by ML Panadda Diskul, permanent secretary for the Prime Minister’s Office, that reported only 10% of the 18 million tonnes of rice was of good quality.
“The report shows 70% of the rice is tainted with a yellow colour, while the rest is in bad condition and not edible and should only be allocated for ethanol production,” said Gen Prayut.

For your question, you are not telling the truth.

http://www.bangkokbusinessbrief.com/2014/10/29/rice-audit-finds-90-substandard/#ixzz3Iw9ZkpSQ

'80% of rice is fine'

The Nation July 29, 2014

"Only 10 per cent of rice stockpiles has spoiled and only some sacks were missing, while 80 per cent was in still good condition, the rice inspection committee reported to the Rice Policy Committee meeting yesterday"

"The audit of 18 million tonnes of pledged rice stored in granaries has progressed by 72 per cent to 1,290 out of 1,787 locations nationwide."

'Nationwide rice audit ordered by Junta nearly complete'
The Nation 2014-07-28

"... 18 million tonnes of pledged rice in 1,787 granaries around the country have been checked by troops against records for both quantity and quality."

"Of that, 126 granaries [as of Friday] were found to have irregular rice, and the type of rice in storage was not the same as that listed on the records," he [General Prayuth].

"The NCPO had agreed to the plan proposed by the committee on rice releasing - to sell 18 tonnes of rice over three years," he [General Prayuth] said.

"The Commerce Ministry is preparing to resume selling rice from its stocks early next month, gradually in small lots, at the rate of about 500,000 tonnes per month."

The Commerce Ministry is preparing to resume selling rice from its stocks early next month, gradually in small lots, at the rate of about 500,000 tonnes a month.

[Mango Bob]

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

Well done to the bimbo!! alt=giggle.gif>

Something for the grandchildren to pay back!!

3 years in office and 15 years to pay back ???

So where is the `1 trillion baht you were crying about this morning? Seems your figures are just a bit off again. Or do you want to change the subject AGAIN.

Edited November 13, 2014 by Mango Bob

[sawadee1947]

She should have to pay the money back for this or be put to work doing labour for such a blunder. Maybe big brother can pitch in.

you mean every government should be responsible for the rice scheme/loss???? Really? The present government however continues, of course in the best way. Honestly?!

[globin]

It never seizes to amaze me, how much a few can waste, squander or stuff in their pockets.

What is the estimated return on otherwise waste rice by producing ethanol?

[bangon04]

He said the total loss had already included the rotting rice stocks

which was estimated at 30 billion baht.< Quote

According to the general 90% of the stock was rotten at a estimated value at 300 billion baht!!

Someone is not telling the truth!! Wonder who and why?? (rethorical question)

it must be those **** Chinese calculators... why can't you buy a Japanese-made one anymore?

[doctorproc156]

Rubbish article, the whole premise behind pledging programs like this is that the government will incur loses, that is the whole point. And now they are saying most of the rice is fine and only 30 billion is lost to rotten rice? Numbers never seem to add up do they.

[VINCENT2012]

682 billion baht lost.......................thais should read the news and say something about this new.....with that money you can build quiet a few university and hospital or renew at least the materiel....but these people who permit such things are criminals

[northernjohn]

It never seizes to amaze me, how much a few can waste, squander or stuff in their pockets.

What is the estimated return on otherwise waste rice by producing ethanol?

Good question Also can it be used as animal food. I realize some is completely useless but some of it must have some value. I was also wondering about leaving it in the elements for composting. I know that water might be a problem with that but would it have any value if they did compost it.

These are not suggestions because I have no answers I am looking for honest information on these items.