Some 260 billion baht has already been spent on subsidising rice prices and another 405 billion baht will follow for the next farming season. If one were to view the rice pledging scheme from an economic perspective, surely one would see that it is full of holes. If one were to assume that the intention of the scheme is to better the lives of farmers, surely it's obvious that any benefits would be minimal and temporary. But if one were to look at the scheme from a realpolitik perspective, surely one would see its merits.
Oftentimes we misjudge a government policy because we misinterpret its motives and intentions, and such is the case with the rice pledging scheme. If one views the scheme in the big picture context of this ''sensitive and transitional period'' in Thai history, it can be understood as a sound strategy on the part of Thaksin Shinawatra and the Pheu Thai Party.
Every move, every sneeze and every passing of wind from both sides of the political divide is for one goal only, complete political victory. For Thaksin, this means his return to Thailand, his being exonerated from any wrongdoings and his return to power. The wheels have been in motion over the past year of Pheu Thai's term.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.