Once again, the govt is unable to keep its promise to pay rice farmers on Jan 31 for crops pledged months ago. Stop lying, says Veera Prateepchaikul | Bangkok Post: opinion

Opinion > Opinion

Just stop telling lies

It's time farmers decided whether it's worth supporting Pheu Thai, says Veera Prateepchaikul

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As predicted, the government will not be able to keep its promise to rice farmers that they will definitely be paid today, Jan 31 -- just as all the other promises of payment been broken -- because the government itself is broke but has stubbornly refused to accept it and has kept lying to the farmers. 

Its last-ditch attempt, through the Finance Ministry, to raise funds via a bridging loan auction on Thursday -- and to raise another 20 billion baht loan in a similar way each week until it reaches the 130 billion baht the Bank of Agriculture and Agricultural Cooperatives needs to pay the farmers -- was abruptly cancelled, because most commercial banks did not take part.

The couple of banks that did show an interest asked for a very high interest rate that the ministry found unacceptable.

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