B74bn more for crop pledging scheme | Bangkok Post: breakingnews

B74bn more for crop pledging scheme

Published: 12 Mar 2013 at 16.41
Online news:

The cabinet meeting has given the Ministry of Finance approval to guarantee 74.17 billion baht in loans for the Bank for Agriculture and Agricultural Cooperatives (BAAC) to fund the government's price pledging schemes, government spokesman Thosaporn Serirak said on Tuesday.

The loans will be acquired by BAAC to pay farmers who pledge their crops under price pledging programmes for agricultural products, particularly off-season rice, he said.

Mr Thosaporn said approval would increase the lending portfolio of the special task state-owned bank to 224.17 billion baht, up from the previous 150 billion baht.

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bluebottle
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Discussion 5 : 12 Mar 2013 at 21.325
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Come on what's another 224.17 billion in the run of things.Well it is a lot of tax to collect for starters.I would not mind if they had sold the last 3 harvests.The rest of the rice producing world must be pleased.I can here them saying thanks.
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englishbob
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Discussion 4 : 12 Mar 2013 at 18.084
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Paying people to grow crops they can't grow profitably?

It's like a reward for inefficiency and/or stupidity.
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bluebkk
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Discussion 3 : 12 Mar 2013 at 18.023
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The Dubai cronies have just stolen 74 BILLION from the Thai taxpayers to buy votes???? How much education/schools/teachers could 74 billion buy??? But oh.....we forgot....the great fugitive HATES educated people.... too much of them would see him lose all his support,,,,LOL
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spiceman
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Discussion 2 : 12 Mar 2013 at 17.382
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Democracy, aka, Mob Rule, is a beautiful thing, isn't it?
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pete
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Discussion 1 : 12 Mar 2013 at 17.111
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224.17 billion baht?? Up and Up and Up. It just seems to increase every few months.
High-Speed Train to Pattaya in 5 years?? Better change that to 25 years. There won’t be enough money in the kitty. It’s all disappearing on rice!
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