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Published on July 21, 2007

Its acting secretary-general Sirajit Waramontri told its 40 employees on Thursday they would be out of a job from July 27. They will receive settlements.

The fund's reserve cash has been exhausted, they were told.

Field officer Hannarong Yaowalert said yesterday the closing was "irrational" because staff could still work even though there was no reserve funding.

Many organisations sponsor the fund and trust staff to work hard, Hannarong said, and there are no financial problems in operations because results speak for themselves and keep financial support coming in.

The fund has Bt4 million from main donors, Bt4 million in bonds and an unused Bt4 million fund, Hannarong said. Another Bt600,000 for salaries has not been paid. The foundation's building is worth Bt15 million.

"Should the foundation be dissolved, these assets must be returned to the Siam Society or the family of Dr Boonsong Lekagul, who founded the fund in 1983," he said.

Ever since president Pisit na Phatthalung removed secretary-general Surapol Duangkhae for administrative and financial reasons, all projects have had to receive board approval.

But the board meets only twice a year, so performance and projects do not get proper recognition, he said.

The president lobbied sponsors not to give financial support due to "existing problems", he added.

Throughout the past 10 years when Pisit was acting president and had no involvement in the administration, the foundation received financial support; problems started when he became full-time president, Hannarong said.

Deputy secretary-general for the North Nikhom Puttha was in shock after learning of the news. He will seek advice on his next move.