B2 trillion loan bill approved by cabinet, to go to House of Representatives

Cabinet approves B2 trillion loan bill

Published: 19 Mar 2013 at 15.27
Online news: News

The cabinet on Tuesday approved the draft two-trillion-baht infrastructure development loan bill, Finance Minister Kittiratt Na-Ranong said after the meeting.

The loan bill is expected to be forwarded to the House of Representatives for consideration next week.

The bill empowers the Ministry of Finance to gradually acquire loans to fund the government's planned infrastructure development investment megaprojects over the next seven years, Mr Kittiratt said.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

Forum

Your comments

musashi
Post : 456
Send message

Discussion 21 : 20 Mar 2013 at 02.5121
Post this to my Facebook
brilliant #18: Hopefully you will still be laughing when you refer to: http://www.bangkokpost.com/news/local/334615/abhisit-to-be-questioned-by-dsi

In response to your confusion about finance, I said (#25):"you classified liability (balance sheet item) as a loss (P&L item)? And you defined the rice inventory (current asset) as a liability?

Are you confused or trying to invent your own accounting system?"
Like dislike 6 people liked / 8 people disliked this comment
brilliant
Post : 1,462
Send message

Discussion 20 : 20 Mar 2013 at 02.0020
Post this to my Facebook
There's a good source of a loan in Dubai. if he's got anything left after funding the protests in 2010 that is.

musashi - "The recklessness, lack of transparency and accountability of the elected PT government is yet to be proven."

I think the rice "scheme" did any admirable job of disproving your statement. And it that doesn't work, try the 350 billion baht for the flood mitigation "scheme" that has not been spent and is basically unaccounted for. But weren't you the guy that said the rice "scheme" wasn't a loss? Got it.
Like dislike 8 people liked / 6 people disliked this comment
facts_only
Post : 507
Send message

Discussion 19 : 20 Mar 2013 at 01.1519
Post this to my Facebook
"Mr Korn said it is unnecessary for the government to acquire the loans. It could fund the projects via the annual budget system...At present, public debt is about 43% of GDP." - above article

"Thailand, with public debt of 43% of GDP, still has room [to spend]. We expect to return to a balanced budget position within five years. But the big problem for budgetary management is the fact that our current expenditures are high, with little left for investment if we run a balanced budget...We are speaking about basic infrastructure that will help strengthen the country's competitiveness." - Korn, 26 Oct 2010
Like dislike 7 people liked / 5 people disliked this comment
brilliant
Post : 1,462
Send message

Discussion 18 : 20 Mar 2013 at 01.1318
Post this to my Facebook
"The bill empowers the Ministry of Finance to gradually acquire loans to fund the government's planned infrastructure development investment megaprojects over the next seven years, Mr Kittiratt said."

There's a great source for funding in Dubai. Why doesn't PTP use it?

Mushashi - please look at the spending of other countries during 2009 and 2010. Compared to most, Thailand spent a small amount and suffered far less than most countries during a global recession. But of course, you're the guy that keeps saying the rice scheme isn't a loss and may actually be a profit someday. LOL
Like dislike 7 people liked / 4 people disliked this comment
bikeme
Post : 1,116
Send message

Discussion 17 : 19 Mar 2013 at 22.4417
Post this to my Facebook
D14 - The high point was 47.6% during 2004/2005 under your beloved Thaksin. The lowest was under the junta at 37.9%. Abhisit hit 44.9% in 2009, at the peak of the global recession, but each subsequent year the percentage went down. 2011 was mostly under the DEMs rule, so don't pat the PTP on the back. They can claim 2012, but are intent on reversing the trend with trillions in new loans.
Like dislike 16 people liked / 4 people disliked this comment
highlander
Post : 137
Send message

Discussion 16 : 19 Mar 2013 at 22.4216
Post this to my Facebook
No financial bills involving tax payers money including revenues gained from other resources such as tourism, and other government taxes imposed on companies should be passed by parliament without proper due process. This means proposals must be broken down for transparency to show the proposed cost of projects. These projects need to be addressed one by one and then be subjected to detailed cost analysis to ensure cost proposals are soundly based. Meaning realistically based and not just numbers PTP pull from their hat. Then there needs to be public tender processes closely watched and monitored to select contractors who meet all criteria
Like dislike 8 people liked / 0 people disliked this comment
howell
Post : 1,661
Send message

Discussion 15 : 19 Mar 2013 at 22.2315
Post this to my Facebook
How can anyone trust or believe a single word from this Thaksin/PTP government ? Just look the mess their rice scheme is !
Like dislike 23 people liked / 6 people disliked this comment
musashi
Post : 456
Send message

Discussion 14 : 19 Mar 2013 at 22.0714
Post this to my Facebook
bikeme #11: Thai government debt to GDP (%):

2010 (Dem): 45.2% (AV's term)
2011 (PTP): 42.6%
2010 (PTP): 41.7%

Will you now say that PTP is more capable?

Japan and Singapore have debt to GDP exceeding 100%. UK and USA have debt to GDP double that of Thailand. Will you say that these economies are in worse shape than Thailand?

Your simplistic view of economics is just what the Dems need to fool their dwindling supporters.
Like dislike 12 people liked / 35 people disliked this comment
ringmaster
Post : 745
Send message

Discussion 13 : 19 Mar 2013 at 21.4913
Post this to my Facebook
Based upon the state of the economy when Korn was Finance Minister, why should we believe him now?
Like dislike 10 people liked / 31 people disliked this comment
cinbkk
Post : 201
Send message

Discussion 12 : 19 Mar 2013 at 21.4112
Post this to my Facebook
Corruption aside, Thailand has fairly low unemployment, so I wonder who will fill these 500,000 new jobs. maybe it will be the people who have lost their jobs as a result of the 300B minimum wage policy; or migrants from other ASEAN countries.
Like dislike 12 people liked / 4 people disliked this comment

1 2 3 Next Last

B2 trillion loan bill approved by cabinet, to go to House of Representatives | Bangkok Post: business

Cabinet approves B2 trillion loan bill

Most Viewed

NESDB chief: Gold price drop temporary

Forum

Your comments

Sign in once and access every part of the website at your convenience!