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Thursday April 17, 2014

Sa

Just stop telling lies

Friday January 31, 2014

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.

The reason for their absence is that it remains doubtful the Finance Ministry can secure the loan and whether such a transaction would be constitutional or not.

This rice farmer taking part in a road blockade protest in Phitsanulok on Jan 27 has a sign saying ‘‘Every tractor is for sale. Need money to pay off debts". (Post Today photo)

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