PM says 280 billion baht in loss from the rice scheme is not the final figure

[webfact]

PM says 280 billion baht in loss from the rice scheme is not the final figure

 

 

BANGKOK: -- The 280 billion baht in damage caused by the rice pledging scheme of the Yingluck administration is not the final figure which is bound to increase in the future when reassessment is to be made, Prime Minister Prayut Chan-ocha said on Wednesday.

 

He clarified that the 280 billion baht figure was an assessment of the damage made two years ago and there are still leftover rice which were bought under the scheme and yet to be sold. The leftover rice stored in warehouses across the country is bound to sustain more damages the longer period they are kept in stockpiles and are not sold, he said.

 

As far as damage from the rice pledging scheme is concerned, the prime minister said that the matter was referred to the court which will hold the first hearing of the case on Friday. He assured that the judicial process would be transparent and fair to all parties concerned.

 

The prime minister asked the media not to focus too much on the damage figure, saying that it will be adjusted up if the leftover rice are not sold.

 

He said the government had wanted to offload the leftover rice estimated at about nine million tonnes but the price was too low and. Hence, they were not sold. He added that the government could not engage in price intervention because this would impact on rice price.

 

He insisted that someone had to be held accountable for the massive loss caused by the rice pledging scheme.

 

Source: http://englishnews.thaipbs.or.th/pm-says-280-billion-baht-loss-rice-scheme-not-final-figure/

 

-- © Copyright Thai PBS 2016-08-04

[shirtless]

I wonder how much money the Junta cost Thailand, loss of revenue due to coup would be many billions 

[smedly]

please enlighten us all how you come to this conclusion, and while you're at it please tell us what would have happened had they not intervened - I am always happy to get an informed  education

[Alive]

Just a vendetta by the regime and its fascist supporters. Prayut himself will be investigated despite his claims of amnesty. The people will get it together for they need truth, justice and responsibility of all government officials. No one should be allowed to steal and abuse in office and avoid punishment. These privileges for the powerful are the exact problem of Thailand. Everyone needs equality under the law.

[tbthailand]

of course it's not the final figure, ... There is a new one every day.  

Edited August 4, 2016 by tbthailand

[pookiki]

Article 44 will determine the final figure!

[yellowboat]

If they do not know the final figure, how can they prosecute her ?  They will have to pick a number at some time.   Or if you are given god like powers, you can just presume guilt as you like.

[yellowboat]

5 hours ago, smedly said:

please enlighten us all how you come to this conclusion, and while you're at it please tell us what would have happened had they not intervened - I am always happy to get an informed  education

 

Thaksin would have been pardoned ?

[JAG]

The final figure will depend upon how much money they can seize fro the Shinawatras and any of their allies they can put the squeeze on. This has nothing to do with recouping losses from the Rice Pledge Scheme ( which was always effectively a state subsidy to the farmers) and everything to do with breaking the opposition.

They can't destroy their support base, they cant beat them in an election so they are trying to break them financially.

The alternative would be mass imprisonment, very possibly with an outbreak of severe sudden blood disorders - difficult to justify internationally, although I am sure they would be up for it if all else failed!

[SOTIRIOS]

...initially the figure was a lot higher....l

[mike324]

1 minute ago, SOTIRIOS said:

...initially the figure was a lot higher....l

 

it was indeed higher, but people did not subtract with the number of rice they sold, which is something around 190 billion..... hence the recent lower revised estimate.

Then again, it seems like nobody has an exact figure of how much rice is in the warehouse. Its still all an estimate,  PTP did not exactly keep a good record of it as well.

[yellowboat]

2 minutes ago, SOTIRIOS said:

...initially the figure was a lot higher....l

 

Yes, it was more than double if memory serves. 

 

 

[MZurf]

39 minutes ago, yellowboat said:

If they do not know the final figure, how can they prosecute her ?  They will have to pick a number at some time.   Or if you are given god like powers, you can just presume guilt as you like.

"Or if you are given god like powers, you can just presume guilt as you like."

 

Well, the cantankerous one HAS given himself god-like powers (as well as the mother of all amnesties) through article 44 so he can presume anything he likes.

[MZurf]

6 hours ago, smedly said:

please enlighten us all how you come to this conclusion, and while you're at it please tell us what would have happened had they not intervened - I am always happy to get an informed  education

"please enlighten us all how you come to this conclusion..."

 

You know what gave it away for me? History (nothing was "fixed" after the previous dozen or so coups) and the fact that the junta leader obviously had none of the qualities that is required in a person that's all powerful (you know, like humility, fairness, knowledge etc, etc). So, why do YOU think that anything will be better under junta number 12??

 

"...and while you're at it please tell us what would have happened had they not intervened"

 

Are you asking yellowboat to be clairvoyant? Here is what I think could have happened:

The demonstrations led by Suthep (and his handlers) was petering out. New elections could have been called, and the voters could have shown their great dissatisfaction towards the government of YL (according to the junta supporters) and thrown them out, and everything would have been just dandy, right?

Why do I feel there's a "But, but, but...Thaksin!" reply coming??

 

[yellowboat]

7 hours ago, smedly said:

please enlighten us all how you come to this conclusion, and while you're at it please tell us what would have happened had they not intervened - I am always happy to get an informed  education

Intervention, hmmm.....

Been through a few political disagreements in Thailand, and they are not that violent for which the Thais should be congratulated.  The army, on the other hand, is deserves far less credit.  It was pretty obvious that they chose a side and it was not with the voting majority.  Had they not intervened, perhaps everyone would just gotten tired and gone home.     

[brucec64]

8 hours ago, smedly said:

please enlighten us all how you come to this conclusion, and while you're at it please tell us what would have happened had they not intervened - I am always happy to get an informed  education

 

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."

 

$20 to $30 billion is 700 billion to 1 trillion baht. That is 3-4 times more than the latest estimates of the cost of the rice subsidy. And the dismal performance by the junta over the last two years has done nothing to offset this loss.

 

Consider yourself enlightened...

[yellowboat]

1 hour ago, brucec64 said:

 

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."

 

$20 to $30 billion is 700 billion to 1 trillion baht. That is 3-4 times more than the latest estimates of the cost of the rice subsidy. And the dismal performance by the junta over the last two years has done nothing to offset this loss.

 

Consider yourself enlightened...

That would mean the only differences between the good general and Yingluck is that the good general has a get out of jail free card.  Yingluck must face a court while the junta is still in control.  All those who hate Yingluck may find this difficult to come to terms with.   Wonder if she would win in an election.

[Srikcir]

Asked whether the 300 billion baht estimated loss would be rechecked and reassessed, [Prime Minister's Office]  Panadda [Diskul] said that the figures had been perused carefully. He added that the case should serve a valuable lesson for bureaucrats to perform their duties honestly. 2016-08-02

 

Looks like the lesson is Prayut decides what is honest, not concientious bureaucrats.

Source: http://englishnews.thaipbs.or.th/yingluck-boonsong-liable-300-billion-baht-loss-rice-scheme/

[Alive]

Prayut must have thought that he too will have to pay as he is trying to make Yingluck pay. Why else would he have given his two daughters 200 million baht each just prior to doing the coup? He knows his amnesty idea is a joke. All leaders must pay if Yingluck does. Invest in legal services because they all will be even more busy in the coming years.

[JAG]

4 hours ago, mike324 said:

 

it was indeed higher, but people did not subtract with the number of rice they sold, which is something around 190 billion..... hence the recent lower revised estimate.

Then again, it seems like nobody has an exact figure of how much rice is in the warehouse. Its still all an estimate,  PTP did not exactly keep a good record of it as well.

Well they have had two years to count it! You would have thought that if you were launching a legal action you would have something more than an estimate...

[Baerboxer]

11 hours ago, shirtless said:

I wonder how much money the Junta cost Thailand, loss of revenue due to coup would be many billions 

 

Deflection.

 

 

[Baerboxer]

4 hours ago, MZurf said:

"please enlighten us all how you come to this conclusion..."

 

You know what gave it away for me? History (nothing was "fixed" after the previous dozen or so coups) and the fact that the junta leader obviously had none of the qualities that is required in a person that's all powerful (you know, like humility, fairness, knowledge etc, etc). So, why do YOU think that anything will be better under junta number 12??

 

"...and while you're at it please tell us what would have happened had they not intervened"

 

Are you asking yellowboat to be clairvoyant? Here is what I think could have happened:

The demonstrations led by Suthep (and his handlers) was petering out. New elections could have been called, and the voters could have shown their great dissatisfaction towards the government of YL (according to the junta supporters) and thrown them out, and everything would have been just dandy, right?

Why do I feel there's a "But, but, but...Thaksin!" reply coming??

 

 

Yes, let's discuss history, coups, current leadership, governments, - anything at all apart from Yingluck, and her brother's rice scam,

[dhream]

Its not often I agree with the PM. 

[Baerboxer]

5 hours ago, yellowboat said:

 

Yes, it was more than double if memory serves. 

 

 

 

Yep. PTP would have ignored the protesters and increased the pressure and attacks on them. They would have pushed Thaksin's amnesty through and brought him back with due pomp and ceremony. Granted themselves amnesty for past and future issues at the same time and then pushed the 2.2 trillion loan act through allowing for their off budget non accountable management. 

 

 

[Thailand]

1 minute ago, Baerboxer said:

 

Yep. PTP would have ignored the protesters and increased the pressure and attacks on them. They would have pushed Thaksin's amnesty through and brought him back with due pomp and ceremony. Granted themselves amnesty for past and future issues at the same time and then pushed the 2.2 trillion loan act through allowing for their off budget non accountable management. 

 

 

But they didn't and your boys are making a bigger hash of things than anyone would have thought possible. Bit like Trump, just when you think he could not possibly say or do anything more off the rails he does it.

 

Deflection?

[tbthailand]

1 hour ago, Baerboxer said:

 

Yes, let's discuss history, coups, current leadership, governments, - anything at all apart from Yingluck, and her brother's rice scam,

the thread is not actually about the rice "scam" itself but rather the political vendetta being waged against a former government. 

 

Thought you'da figured that out by now... 

[Alive]

Why is Prayuth involved in this? I thought the honorable trustworthy courts would be making statements on this. He should go back to reconciling and bringing the nation back together.

[rosst]

I am just an ordinary run of the mill bloke who comes to Thailand and enjoys the place. I have a house in some one else's name and come for a holiday a couple of times each year for a couple of months. 

It seems to me that the place is much better now than before the coup. 

Oh well,  just my two bobs worth. 

[MZurf]

4 hours ago, Baerboxer said:

 

Yep. PTP would have ignored the protesters and increased the pressure and attacks on them. They would have pushed Thaksin's amnesty through and brought him back with due pomp and ceremony. Granted themselves amnesty for past and future issues at the same time and then pushed the 2.2 trillion loan act through allowing for their off budget non accountable management. 

 

 

Would have this, and would have that.  What we know for a fact is that they tried to hold an election, and if the junta supporters are to be believed PTP would have lost in a landslide. Strange then, that the Suthep followers blocked it! What happened instead was that the Army overthrew the caretaker government (do you now admit that that was incorrect of you to claim this was pure PTP propaganda?) and gave themselves the mother of all amnesties. And I must say that the PTP amnesty attempt pales in comparison to the shameless carte blanche the junta gave themselves and their boys. 

Agreed?

Edited August 4, 2016 by MZurf

[mike324]

18 hours ago, JAG said:

Well they have had two years to count it! You would have thought that if you were launching a legal action you would have something more than an estimate...

 

Given how much rice is loss and the books were not even clear to begin with...a close estimate is the best option they have...or if you have a better idea of how to count the loss rice please do share!