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BANGKOK 19 October 2018 17:48
rooster59

Gov directs problem-solving for agriculturists’ debts

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Gov directs problem-solving for agriculturists’ debts

Vipaporn Pooritanasarn

 

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BANGKOK, 13th October 2018 (NNT) - The government is directing a problem-solving approach to agriculturists’ debts in keeping with the consensus of the cabinet. 

The consensus recently approved guidelines in solving the problem of the debts of agriculturists who are members of the Sustainable Farmers’ Reconstruction and Development Fund. 

As regards farmers who have taken out loans from the Bank for Agriculture and Agricultural Cooperatives, the bank will reconstruct the debts for more than 35 thousand farmers who are members of the Sustainable Farmers’ Reconstruction and Development Fund. 

These are borrowers who have failed to pay their debts since 31st December 2017 with a debt not exceeding 2.5 million baht each. They will be allowed payment suspension for half of the principal and the whole interest. 

The Ministry of Agriculture and Cooperatives recently created a plan to develop careers for farmers within a budget of 20 million baht. This involves career support and agricultural product purchase planning. The project is intended to improve incomes for farmers so that they can pay their debt to the banks by the deadline and have sustainable incomes from their farm work. 

As regards farmers in debt to other banks, the ministry is to discuss with the farmers and the banks ways to help them in a manner similar to the case of BAAC debtors. The rationale is to be collected and presented to the cabinet to consider in order to help every farmer equally.

 

 
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-- nnt 2018-10-14

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4 minutes ago, gunderhill said:

why not repossess the pick up theyll most likely  have.

And if they don't have a pick up, how about taking their tractor, no tractor, just take their first born child!!

Pfffff.

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2 minutes ago, BigBadGeordie said:

And if they don't have a pick up, how about taking their tractor, no tractor, just take their first born child!!

Pfffff.

I'd remove their brain cells but......

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Big can of worms. The future of sustainable farming is shaped by big agro companies using robot technology. Lot of farmers are going bust already , with crop prices lower than the actual costs. Who in the next generations wants to be a farmer? Whats gonna happen to the millions of small farms and farmers and their offspring, who have had insufficient education and have no other skills than growing rice? Future slum dwellers?

 

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Growing Ganja will pay their debts.  Thai sticks were this mythical thing when I was growing up where pot was already readily available.  Let the farmers make the myth a reality, so that they may be debt free. 

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Any scheme that aims at relieving the burden of debt, should ensure that full repayment will be achieved in due course. Hence it can work only on a case by base approach and aimed at farms that are sustainable financially once once the debt has been restructured. 

 

A lenient, sloppy, approach to any debt issue only encourages irresponsibility. This is true for countries too...

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1 hour ago, BigBadGeordie said:

And if they don't have a pick up, how about taking their tractor, no tractor, just take their first born child!!

Pfffff.

What if they don't have a lamb to sacrifice and mark the door with blood????

Edited by overherebc
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4 hours ago, rooster59 said:

the bank will reconstruct the debts for more than 35 thousand farmers who are members of the Sustainable Farmers’ Reconstruction and Development Fund

 

4 hours ago, rooster59 said:

The Ministry of Agriculture and Cooperatives recently created a plan to develop careers for farmers within a budget of 20 million baht.

Or about 600 baht per farmer.

And that doesn't account for "administrative costs" - 30%?

Don't see that plan being a solution for farmers.

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