BAAC promissory note sale tanks | Bangkok Post: business

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BAAC promissory note sale tanks

Public can contribute to farmer aid fund

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The caretaker government's fundraising plan to pay off rice farmers suffered another setback on Thursday when an auction for the first tranche of 20 billion baht in promissory notes issued by the Bank for Agriculture and Agricultural Cooperatives (BAAC) saw weak demand. 

A Finance Ministry source said there were few suitors, and finance permanent secretary Rangsan Sriworasart was quoted as saying the auction will be postponed until today.

The promissory notes are part of the BAAC's plan to raise 80 billion baht from state enterprises to pay off angry farmers, some of whom are rallying in front of the Commerce Ministry demanding pledging payments.

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