Gen Prayut disbands Farmers’ Fund board

 

 

BANGKOK: -- In his capacity as head of the National Council for Peace and Order, Prime Minister Prayut Chan-ocha ordered the disbandment of the board of Farmers Rehabilitation and Development Fund, citing its incompetency and lack of transparency in the management of the fund to resolve farmers’ indebtedness.

 

Instead, the prime minister ordered the setup of an ad hoc committee to manage the Fund in order to resolve farmers’ debt problem as an urgent matter.

 

The committee also comprises permanent secretaries of finance, defence, agriculture, justice and interior, director of Budget Bureau, managing director of Bank of Agricluture and Agricultural Cooperatives and secretary-general of National Economic and Social Development Board.

 

Full story: http://englishnews.thaipbs.or.th/gen-prayut-disbands-farmers-fund-board/

 

-- © Copyright Thai PBS 2017-05-19

Must have been banking with the wrong bank.

Hard to believe farmers debt problems will be solved anytime soon. I know several farmers who owe large sums of money, between 500k and a million bht and when you earn maybe 10k a month those sorts of debts have a habit of getting larger not smaller.

1 hour ago, edwinchester said:

Hard to believe farmers debt problems will be solved anytime soon. I know several farmers who owe large sums of money, between 500k and a million bht and when you earn maybe 10k a month those sorts of debts have a habit of getting larger not smaller.

Just a normal phenomenon when both lender and borrower don't consider, at the time of the contract, how the debt would be repaid.

 

Why do they do it?

 

The lender is eyeing the land.

 

The borrower, the money coming on to his hand.