The office needs to roll over the
The Pheu Thai government's rice subsidy, which offered a pledging price 40-50% above the market price, cost
The rice-pledging scheme, a major populist policy which swept Yingluck Shinawatra to power in the 2011 general election, has suffered setbacks as it failed to boost the market price. Several million tonnes of milled rice have been kept in thousands of warehouses, in accordance with the government's policy that withholding a large supply from market will raise prices.
Mr Suwit said the Finance and Commerce Ministries are inspecting rice stocks to collect data for the account's closing, with 70% already audited.
Proceeds from selling stockpiled rice will be used to service debts, while the annual budget will be used to subsidise losses from buying rice at high prices and selling it at lower prices.
The Yingluck government successfully transferred the
Separately, finance permanent secretary Rungson Sriworasat will preside over a public debt management meeting for fiscal 2015 on Friday. Public debt next fiscal year is close to the current year at
The junta endorsed the budget for fiscal 2015 starting on
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