The Phuket News Premier League predictions The Phuket News Kata Rocks The Phuket News
The Phuket News Thailand News
The Phuket News Phuket | Thailand | World | Business | Q&A | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

Prayut: Yingluck’s rice damage growing from B287bn

BANGKOK: The damage from the rice-pledging scheme that former prime minister Yingluck Shinawatra is responsible for will be higher than the recently estimated B286.6 billion as a lot of the stored grain remains unsold, Prime Minister Prayut Chan-o-cha said yesterday (Aug 3).

corruption, politics,


Bangkok Post

Thursday 4 August 2016, 09:25AM


Former prime minister Yingluck Shinawatra (centre) receives roses and rice from supporters as she arrives at the Supreme Court. Photo: Kitja Apichonrojarek
Former prime minister Yingluck Shinawatra (centre) receives roses and rice from supporters as she arrives at the Supreme Court. Photo: Kitja Apichonrojarek

The national rice policy and management committee acknowledged a report on the rice scheme’s losses yesterday. Officials reported the damage figure to the Prime Minister’s Office on Monday (Aug 1).

“The figure was produced too quickly. It was based on a survey in 2014. The remaining stockpiled rice will deteriorate further,” Gen Prayut said after the committee meeting.

Apart from the B286.6-billion in damages for which Ms Yingluck is being held responsible as she had failed to stop the scheme, almost B20 billion was recorded as being the cost of fake government-to-government rice export deals that her former commerce minister Boonsong Teriyapirom set up for pledged rice, the prime minister said.

Gen Prayut stressed that the damage being done to the remaining rice stockpiles was growing as there were ongoing costs to consider and grain decaying. Officials have predicted lower consumption of rice next year and mounting stocks in many countries, he said.

Commerce permanent secretary Chutima Bunyapraphasara said yesterday that actual damage would be greater to the 9.1 million tonnes of government rice stockpiles that remained.

Ms Yingluck has been accused of dereliction of duty for failing to stop her government’s loss-ridden rice scheme despite being warned of the potential damage.

QSI International School Phuket

Her government was in power from August 2011 to May 2014. Under the rice-pledging programme, a key plank in the Pheu Thai Party election platform, the government bought all rice from farmers at 40-50 per cent above prevailing market rates.

The aim of the programme, devised by Ms Yingluck’s brother Thaksin Shinawatra, was to control supply and push up export prices. However, the world market was already experiencing an oversupply at the time and the scheme backfired badly on Thailand. As well, authorities allege there was widespread corruption in the reporting of rice transactions.

The government consequently built up huge stockpiles that led to storage problems and rice deterioration. Sales are still taking place but at substantial losses.

The Yingluck administration is also accused of arranging fake government-to-government rice sales that resulted in further damage.

Read original story here.

 

 

The Phuket News
The Phuket News
Comment on this story
* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.
Comments Here:

Comments Left: Characters
Username:
Password:
E-mail: (No Hotmail, Live, MSN and Outlook accepted at this time)
Security:
   => Forget password?

Be the first to comment.

The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community

Recent Comments


Phuket slow loris touts escape officials

Maybe its's because it's not a Police or Navy matter. They are highly trained in matters that don't concern animals or touts nor are they ...(Read More)


Phuket slow loris touts escape officials

Back in Kata Beach today and pay money in the morning to the Office under the Fotball field in Karon, this Blue car driving every morning and give som...(Read More)


No charges for motorcyclist who rammed off-duty Phuket policeman’s car

This is not how to promote safe driving standards and reduce Thailands notorious road death rate. People need to expect repercussions for their reckle...(Read More)


Tougher driving tests, medical checks eyed in road safety push

And what does Thaier think the mirrors are for? put on make up ?...(Read More)


Phuket slow loris touts escape officials

With the po-lice and navy, on patrol, why is it ALWAYS so hard to catch these, or any, touts, any school kid could fi d them, but not these trained, p...(Read More)



Touting elephants okay, says Phuket wildlife official

Not all elephants are "crushed" but only one is too much. I wonder why at one time I was told I had to apply for a permit to take horses ...(Read More)


Australian paedophile stopped from travelling under tough new law

good on Australia, about time they locked these sicko types up and threw away the key, Asian countries need much heavier penalties as well including t...(Read More)


Phuket officials target deadly overloaded trucks

And please!!! Be after these overloaded cement trucks, which spill their load at the beginning of hills when changing to lower gears. Best example is ...(Read More)


Phuket officials target deadly overloaded trucks

This has become a rat run over time, a short cut between Thepkassatri and the Cherng Talay-Heroines road. Despite the signs vehicles that should not b...(Read More)

The Phuket News
Bangkok Hospital Phuket
PHUKET NEWS
Phuket
Thailand
World
Business
Q A
Weird World
ARCHIVE
POLL
CURRENCY
WEATHER
PHUKET TIDE TABLE
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Culture
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Technology
Phuket Travel
World Entertainment
Photo Galleries
COLOURING BOOK
The Phuket News PHUKET SPORT
Phuket
Thailand
World
SURF REPORT
PREDICTIONS
The Phuket News PHUKET CLASSIFIEDS
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
SEARCH CLASSIFIEDS
POST CLASSIFIED
The Phuket News The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Buy Tickets
POST EVENT
The Phuket News PHUKET DIRECTORY
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
POST LISTING
The Phuket News BARGAINS
The Phuket News ABOUT US
The Company
Distribution points
Subscribe
Advertise with us
Pay for advert
Contact us
CONTESTS
Content Google Map
Site map
Australian Visa Services
 
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2017 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.