The rice scheme has finally collapsed
Finally, the government has conceded and decided to sell the millions of tonnes of rice held in stockpiles since last year at the market price - and take an embarrassing big loss as a result.
Slutligen har regeringen medgivit och beslutade att sälja miljontals ton ris som innehas i lager sedan förra året till marknadspris - och ta ett pinsamt stor förlust som följd.
This white elephant rice pledging scheme is just one of the populist schemes which are steadily and increasingly drying up the state coffers without our knowledge, because no one in the government will give us the truth about the real state of our financial Health.
Undrar var dom 15 000 000 000 battingarna som saknas har tagit vägen?
BAAC reported it had so far received 65 billion baht from rice sales by the Commerce Ministry. But the Foreign Trade Department said it had sent the Finance Ministry 80 billion baht from rice exports. Whatever the real amount received by BAAC, the indisputable fact is that the bank is short of cash to continue funding the scheme.
http://www.bangkokpost.com/opinion/opinion/339485/fall-of-white-elephant-rice-pledging-scheme