Kittiratt seeks EC approval for loan

Caretaker Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong on Tuesday morning put the government's case before the Election Commission (EC), explaining the need for an additional loan to pay farmers owed money under the rice pledging scheme.

The EC invited Mr Kittiratt to testify after the caretaker government, which has limited financial authority, sought approval  to acquire a loan from financial institutions to fund the payments to farmers.

The meeting, chaired by EC chairman Supachai Somcharoen, was held at Thammasat University's Rangsit campus.

Mr Kittiratt said it is necessary for the Finance Ministry to get a loan to pay for farmers who pledged their rice with the government in September and were issued a pledge invoice in October last year.

He insisted that the money being sought was not for a new round of the rice-pledging programme but for the 2013-14 main crop season, which runs from October to the end of February this year.

An EC approval was needed as required by Section 181 of the constitution, which bans a caretaker government from making any decisions which could impose financial burdens on the next government.

Mr Kittiratt affirmed that this would not create a new debt, but was part of the old sum of debt approved by the cabinet in September last year.

The government had so far paid 50 billion baht to farmers and needed more money for farmers who had not yet been paid, he said.

Mr Kittiratt was to report the outcome of his meeting with the EC to the cabinet meeting to be held at the Royal Thai Air Force headquarters in the afternoon.

Share your thoughts

Discussion 1 : 21/01/2014 at 02:40 PM
as much as I want the poor farmers to be paid, I hate to hear the following PTP propaganda speech for the election "we were fighting for you against PDRC, against EC, against the elites ..........."
Discussion 2 : 21/01/2014 at 01:53 PM
There's not a bank in the world that would loan money to a business that hides it financial records. Why should the EC? Let's get the real numbers for all the lost revenue.
Discussion 3 : 21/01/2014 at 01:51 PM
And the answer is.....no loan. This is another thing EC kan hold against the government to press the government to postpone the election. But I hope EC understand that it is important tol fullfill the promise made before the chaos.

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