B15bn terms tweaked for industrial estates

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FLOOD RELIEF

B15bn terms tweaked for industrial estates

Two-thirds of soft loans turned to grants

Published: 31/01/2012 at 02:47 AM
Newspaper section: Business

The Finance Ministry is looking to assist companies in the seven industrial estates inundated late last year by revising the terms of 15 billion baht in soft loans, with two-thirds of the money given away and the rest offered at near-zero interest.

State officials believe the generous package will help to reduce the financial burden of affected firms.

Somchai Sujjapongse, director-general of the Fiscal Policy Office (FPO), said term amendments include allocating two-thirds of the money as straight government grants, with the remaining third still to be soft loans carrying interest of 0.01% and a maximum 15-year repayment period.

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Writer: Soonya Vanichkorn

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spiceman
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Discussion 10 : 01/02/2012 at 04:19 AM10
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Khun Bula #9, it looks like the Govt is covering its own colossal stupid mistake at the dams by using taxpayers' money to bribe them to stay!
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bula
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Discussion 9 : 31/01/2012 at 06:50 PM9
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It is good to know that the Government is assisting companies in the seven industrial estates inundated late last year by revising the terms of 15 billion baht in soft loans. without giving them life line, they will be massive unemployment. Social problems and crimes related to unemployment will increase. Those who criticise the rich are usually those live in poverty and needs because of their poverty mindset.
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peter1956
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Discussion 8 : 31/01/2012 at 05:07 PM8
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Sorry. I meant "the government of the (poor) people, by the (poor) people but FOR the (rich) people."
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peter1956
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Discussion 7 : 31/01/2012 at 04:55 PM7
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No surprise! This PTP government is the government of the (rich) people, by the (poor) people but the (rich) people. The poor and foolish will always be exploted by the smart and rich.
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bluebottle
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Discussion 6 : 31/01/2012 at 04:10 PM6
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Hear we go again the government are providing the money,No you the tax payer are giving the money it is your money they are giving away.Why because without this hand out the occupants of the industrial estates would be out of business and more importantly without insurance.All this because it seems the government are going to re nay on a pledge to stop the flooding this year.
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spiceman
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Discussion 5 : 31/01/2012 at 11:43 AM5
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This is a good indication of how desperate this Govt has become, in order to keep these companies around. If only a 41-years old proven water management procedure was followed last year, none of these would be happening, and more than 800 people would still be alive today.
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moruya
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Discussion 4 : 31/01/2012 at 11:10 AM4
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Is this another case of the Government bending the rules to make payments?

I think the PTP should rename itself the ATM party
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dao
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Discussion 3 : 31/01/2012 at 09:19 AM3
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Companies need to rebuild with insurance .Insurance companies dont want to offer flood insurance if there is no flood management .There is no flood management now .Throwing taxpayers money at a problem doesnt make it go away .Its not a traffic cop its a real problem .
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Michael Bukit
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Discussion 2 : 31/01/2012 at 07:29 AM2
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I guess this is the first country in the world that does such thing. Give money to the rich companies but the poor get nothing.
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ricardofel
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Discussion 1 : 31/01/2012 at 06:44 AM1
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Interesting the government gives big money to the companies that were affected by flooding and treat their own people like dogs with a paltry 5000 baht.
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B15bn terms tweaked for industrial estates | Bangkok Post: business