CityNews – On February 19th at 9 a.m. Rungson Sriworasat, Permanent Secretary of Ministry of Finance (MOF), opened the 2nd seminar under the project CCO-MOF at the Holiday Inn Chiang Mai.
Rungson Sriworasat
The seminar’s objectives are to improve understanding and raise awareness among 500 MOF administrations and officials from 17 northern provinces about changes and new strategies developed by MOF.
Rungson gave a speech on the topic: “MOF’s Role for Development of the Country” then opened the forum titled: “Participation of Agencies under the Ministry of Finance in the Drive of MOF’s Strategies.”
The Permanent Secretary, with director-generals and representatives from the MOF, along with local State Enterprises, discussed the ‘Tax Clinic’ project for local Small and Medium Enterprises (SMEs). He also covered daily changes in Thai financial institutions and their concerns, including the pending new government, discontinuation in government policies, and entering ASEAN next year.
The MOF is responsible for paying the farmers, concerning the Rice Pledging Scheme. The MOF states it has tried everything, including taking out loans from financial institutions, both domestic and international. They are now working with the Ministry of Commerce to sell the remaining rice from the fiscal years 2011-2012 and 2012-2013.
The government’s budget for the Rice Pledging Scheme was 500 billion baht, but so far they pledged 680 billion baht. After the fiscal year 2011-2012, the government spent 410 billion on the scheme. During the 2012-2013 fiscal year, the government saw problems with its budget, so the remaining 270 billion has to be paid in installments. MOF was assigned to oversee distribution to farmers. After evaluating the budget, they found 5-6 high-risk provinces that require further auditing. The Bank for Agriculture and Agricultural Cooperatives (BAAC) issues supplementary loans, and over 4 million in farmer’s credit, so the farmers can buy supplies for next season.
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