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BAAC refuses to pay farmers

  • Published: | Viewed: 5,902 | Comments: 7
  • Newspaper section: Business
  • Writer: Wichit Chantanusornsiri and Phusadee Arunmas
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The board of the Bank for Agriculture and Agricultural Cooperatives (BAAC) repeatedly refused to use its liquidity of 55 billion baht to advance money to unpaid farmers who pledged paddy for the current main crop. 

The latest action adds to signs the caretaker government is hitting a wall in seeking funds for payments under the rice pledging scheme.

The caretaker cabinet's resolution at Tuesday's meeting requiring the bank to use its own liquidity to pay farmers is unclear, which is why the bank's board has insisted it will not pay advances to farmers, a bank source said.

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