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Hej
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EC rejects government’s 130-billion baht rice loans

in Business | January 16, 2014 | (710 views) | By thaipbs author
The Election Commission (EC) has rejected the caretaker government ‘s request to seek 130 billion baht loans to finance its rice-pledging scheme, and the government-to-government rice sales to China.
EC commissioner Somchai Srisuthiyakor said that the government had made four-point request to the EC and ask whether it could go ahead with these schemes.
The four schemes are the sale of packed rice, the use of bank’s liquidity for rice payment, the rice sales to China on G-to-G agreement, and the 130-billion baht rice loans.
He said that the EC has already sent replies to request to the government but the Commerce Minister Niwatthamlong Boonsongpaisan has said the reply to the Chinese rice sale is ambiguous and wanted more explanation.
The minister reasoned that the EC’s reply was alike the verdict of the International Court of Justice which could be interpreted because the EC wrote in the reply that the rice sale risks violation of law and need to be carry on with caution, the commissioner said.
He said .that the Commerce Ministry has resent the request on the matter and the EC would raise this for discussion next week along with the request for the 130-billion baht rice loan sought by the Finance Minister.
But he said that the EC has earlier told that all four schemes could not be carried on but is ready to hear more explanation from the caretaker ministers
The EC commissioner said the EC has rejected the 130-billion baht rice loan scheme, and the using of 50 billion baht fund from the liquidity of the Bank for Agriculture and Agricultural Cooperatives to pay rice farmers.
But he said that he has learned that the government has already used the bank liquidity for rice payment, therefore the EC has warned that it has to take its own responsibility.
He added that all the four requests could not be carried out under Section 181 of the Constitution if they commit to the new government, have impact on election, are government revenues, and use government facilities
http://englishnews.thaipbs.or.th/ec-rejects-governments-130-billion-baht-rice-loans/?utm_source=rss&utm_medium=rss&utm_campaign=ec-rejects-governments-130-billion-baht-rice-loans
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