AGRICULTURE
B100bn still owed to bank from earlier rice schemes
- Published: 6 Oct 2012 at 00.00
- Newspaper section: Business
Amid growing debate over the costly rice pledging programme, the Bank for Agriculture and Agricultural Cooperatives (BAAC) says the government still has outstanding debt of 100 billion baht accrued under previous rice schemes.
The amount excludes the financial burden created by the incumbent government in last year's rice pledging scheme and future plans, according to BAAC president Luck Wajananawat.
The rice mortgage scheme run more than a decade ago by previous governments was partially funded by excessive cash flow at the BAAC, the state bank responsible for implementing the programme, and by loans backed by the Finance Ministry.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
