Government reveals 4 approaches to improving rice mortgage scheme

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BANGKOK, 23 Oct 2013, Minister Attached to the Prime Minister’s Office and Deputy Agriculture and Cooperatives Minister Warathep Rattanakon has unveiled the government’s 4 approaches to the improvement of its rice mortgage scheme. 

According to Mr. Warathep, in order to increase effectiveness of its rice mortgage scheme, the Government has come up with four measures, which include reducing the price of rice being pledged, reducing the amount of rice allowed to be pledged per household, reducing rice production and scheme management costs, and focusing on more transparency.

He said a few measures: increasing the scheme’s transparency and reducing the amount of rice allowed to pledged for each household can be implemented immediately, with the latter being used to control the amount of rice kept in the government’s warehouses.

However, some of the ideas can not be implemented at this time, such as the reduction of the pledged prices so that it won’t be a burden on the government’s budget, he said.