PM satisfied with solving farmers’ debts

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BANGKOK, Aug 11 (TNA) - Prime Minister General Prayut Chanocha has expressed satisfaction over the government’s solution for farmers’debts, according to a spokesman of the Prime Minister’s Office.

Spokesman Lieutenant General Sansern Kaewkamnerd said the prime minister had received a report that a subcommittee assigned to settle farmers’ debts was able to takeover debts from financial institutions including the government-run Bank or Agriculture and Agricultural Cooperatives and commercial banks.

Total debts taken over are about 6 billion baht owed by 36,000 farmers, said Lt. Gen. Sansern. The takeover is considered “very successful” since the Farmers Reconstruction and Development Fund set up in 1999 because it could lower each farmer’s debt by half.

Lt. Gen. Sansern said the Farmers Reconstruction and Development Fund now plans to draw a new draft and open registration for farmers wishing the government to step in and solve their debts.

The registration will be open this August 15, said Lt. Gen. Sansern, adding that the government will also scrap financial assistance offering to each farmer at the maximum of 2.5 million baht because many of them are now having more than this amount of debts.

He said the government will consider farmers’ debts on an individual basis after the registration is complete. (TNA)