Former PM accused of causing loss of US$8 bln to Thailand
Thailand’s military officers said on August 1 that the government of former Prime Minister Yingluck Shinawatra’s rice subsidy scheme cost the state more than US$8 billion.
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| Former Prime Minister Yingluck Shinawatra |
A fact-finding committee found that the cost of the rice pledging scheme was 286.6 billion THB (US$8.2 billion), Panada Disakul, Minister to the Prime Minister’s Office, told the press.
It was the first time a hard figure had been given for the losses.
Yingluck is also accused of dereliction of duty for the mismanagement of the rice-pledging scheme.
The rice-buying scheme introduced by PM Yingluck Shinawatra in 2011 paid farmers above market price for their rice, making it uncompetitive in the world market.
The government has found it difficult to sell the rice and the programme has run into funding problems, leaving many farmers waiting months for payment.
If found guilty, the former PM could be jailed for up to 10 years for negligence.
