BANGKOK, May 26 — The military and the Bank for Agriculture and Agricultural Cooperatives (BAAC) plan to clear all overdue payment obligations amounting to at more Bt90 billion for the rice that farmers have long pledged with the government within June.
Maj Gen Chartchai Onnuam, director-general of the Veterinary and Remount Department, and BAAC president Luck Wajananawat inspected preparations for the payment. About 830,000 farmers are waiting for altogether Bt92.431 billion from the rice-pledging scheme of the last government and the National Council for Peace and Order (NCPO) decided to speed up the payment because farmers have waited for their money for a long time.
Gen Chartchai said the money would be paid through BAAC branches nationwide. He added that after the payment, the NCPO would introduce immediate economic solutions and work out electoral regulations to pave the way for the next general election soon.
Mr Luck said the payment began today as the NCPO instructed and the BAAC would advance 40 billion baht for the purpose.
The Ministry of Finance will then borrow Bt92,431 million from financial institutions to completely cover the payment. The sum will reach the BAAC on June 6-7 and the payment can be done within June, Mr Luck said.
