Union: No GSB funding for rice scheme

Members of the labour union of the Government Savings Bank will fight against any decision allowing the government to borrow GSB funds to finance the rice pledging scheme, the union said in a statement released on Monday.

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The release of the statement was prompted by a report that the GSB would allow the government to use the people's deposits to pay farmers owed money under the rice pledging scheme.

"Dear fellow SGB staff and employees, the union would like to assure you that we are duty-bound to protect our organisation and the people's deposits with our honour and dignity.  

''Whoever thinks about subverting our bank will certainly meet doom.  The union will fight to the end," the statement said.

GSB director Voravit Chailimpamontri said the report was not correct.  The Bank for Agriculture and Agricultural Cooperatives (BACC) is directly responsible for the scheme, he said.

The report might have derived from a misunderstanding, he said.

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