Credit cards for farmers in May

Business > Economics

Published: 14/12/2011 at 05:02 PM
Online news: Economics

If everything goes as planned, the credit cards for farmers scheme will be launched in May next year, president of the Bank for Agriculture and Agricultural Cooperatives Luck Wajananawat said on Wednesday.

Mr Luck said one million credit cards will be distributed to farmers in five pilot provinces: Ayutthaya, Saraburi, Chiang Mai, Udon Thani and Lop Buri in May, before next year’s rice growing season.

The farmer would be able to use this credit card for the purchase of rice seed, chemical fertilisers and pesticides up to 70 per cent of his crop's estimated value, he added.

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elviajero
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Discussion 7 : 14/12/2011 at 05:10 PM7
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jacksprat (d6). "And what happens if they can't pay it back, the government seizes their land?"
No. The tax payer will bail them out, AGAIN!

The best way to control someone is to put them in debt to you. The TS parties are masters of this and means an element of the support base has no choice but to keep voting for them.

It's just wrong!
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jacksprat
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Discussion 6 : 14/12/2011 at 04:10 PM6
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And what happens if they can't pay it back, the government seizes their land?
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crismango
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Discussion 5 : 14/12/2011 at 03:28 PM5
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"The farmer would be able to use this credit card for the purchase of rice seed, chemical fertilisers and pesticides up to 70 per cent of his crop's estimated value" - I wonder how many fake farmers will buy such items with their new credit cards, sell them for cash, probably to farmers who didn't get credit cards, and then leave the government banks with the debt, which means ultimately leaving us taxpayers with the debt... let's see, the proof is in the pudding, as they say.
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geoffo
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Discussion 4 : 14/12/2011 at 02:59 PM4
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So no flat screens or pickups purchases allowed - right- unlike last time.

Isn't there something inherently wrong with the Gov lending money to a select few to grow rice and then buying that same rice above market price and then selling it at a loss.

So no southern provinces get goodies either, now when did we last see that kind of behaviour from the Gov.
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mrsheen
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Discussion 3 : 14/12/2011 at 02:22 PM3
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Great! So they can sell the items for cash and increase their indebtness...

Did the government inform them that they will have to reimburse the credits? Or will they cry to get a reprieve?
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yik
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Discussion 2 : 14/12/2011 at 02:17 PM2
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a bit confusing: 'The farmers can use this credit card for the purchase of rice seed, chemical fertilizers and pesticides up to 70 per cent of their product for sale ...' ... does this mean "... their FUTURE product for ..." or ....????
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markvdl
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Discussion 1 : 14/12/2011 at 02:12 PM1
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Credit is one of the main reasons of the financial crisis in U.S. and Europe. It 's like building a tower on quicksands. It 's short time politics only in favour of the present government.
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Credit cards for farmers in May | Bangkok Post: business