The labour union of the Bank of Agriculture and Agricultural Cooperatives (BAAC) has voiced opposition to the government’s plan to borrow about 172 billion baht from the bank to fund the “digital wallet” scheme.
Prayat Thammakhan, secretary-general of BAAC union, said bank’s employees are concerned that such a staggering amount of lending by the bank may affect depositorconfidence and the stability of the bank.
Moreover, he said the employees are afraid that the plan may repeat the mistake of about a decade ago, when the BAAC board was pressured by the then government of prime minister Yingluck Shinawatra to lend the government about 50 billion baht to fund the infamous rice pledging scheme, resulting in tremendous loss for the state and the lending bank.
He said that the union disagrees with the opinions of Council of State and legal advisors of the Finance Ministry, that…
