EGAT denies a rumor of funding the rice mortgaging scheme


BANGKOK, 20 Feb 2014 The Electricity Generating Authority of Thailand (EGAT) has denied a news report that said it was funding the government’s rice pledging scheme.

Mr. Thatree Riwcharoen, EGAT’s Public Relations Department Director, stated the report was groundless and might have been caused by a misunderstanding.

Recently a rumor had surfaced that EGAT, a state enterprise that owns and manages the majority of Thailand’s electricity generation capacity, was instructed by the government to provide 10 billion baht worth of loan for funding the rice support program.

Mr. Thatree said that the report was probably a misunderstanding as EGAT had recently cancelled a loan of similar amount of around 13 billion baht from its 2014 budget plan in November last year.