Money raised by revered monk appears at risk
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Re: Luang Ta Maha Bua's followers press for decree cancellation, The Nation, Business, January 6.
The government said the transfer of the FIDF debt from the Finance Ministry to the Bank of Thailand via a draft decree would not disturb the Luang Ta Maha Bua’s klangluang (currency reserve).
But only Section 7(3) in the draft decree deals with transferring BOT or FIDF money or assets into an account to pay back the FIDF debt under the Cabinet decision.
The draft decree doesn’t reveal both what kind of assets, or how much. It widely permits the Cabinet to pick all valued assets of the BOT or FIDF [and] that may include Luang Ta Maha Bua’s klangluang being used. This will inevitably affect the back up for the currency and the country's international reserves.
The intention of Luang Ta Maha Bua will be distorted, instead of taking care that klangluang is
productive for the country, and see it deteriorate with the government’s easy way of demanding money.
Sutipunt Bongsununt
Kanchanaburi
