The Federation of Thai Capital Market Organizations (Fetco) will propose an economic and capital market development plan to the National Council for Peace and Order (NCPO) soon.
It will cover a long-term economic development master plan, state enterprise privatisation, increased household savings and fund-raising through the stock market
It is essential to have economic development continuity and sustainability, and all political parties that will lead the next administration should stick to the long-term economic development master plan, Fetco chairman Paiboon Nalinthrangkurn said in a statement.
He said typically, new governments always overhauled policies laid down by the previous administration if the leading party came from a different side.
The junta is requesting all major associations related to the capital market and trade propose their economic development plans, as it will gather their requests to map out an economic reform plan with the aim of sustaining economic growth.
Commercial state enterprises such as those related to electricity generation and telecommunications should be privatised to improve their efficiency and transparency, lower their burden in running up public debt, raise revenue to the government and eliminate the problem of politicians exploiting state enterprises for their own gain.
Privatisation will help to improve management efficiency, and the government then is likely to obtain dividends at the higher amount than their contribution before privatisation, he said.
Mr Paiboon said Thailand still lacked a compulsory savings scheme, although provident and pension funds were available.
Thailand is becoming an ageing society, and people may face financial trouble when they retire if there is no compulsory savings scheme.
One way to encourage savings is that the administration should maintain tax allowances for investment in long-term equity funds (LTFs) and retirement mutual funds (RMFs), he said.
At present, 400 billion baht is parked in the two funds, Mr Paiboon said, adding that it was necessary to enhance savings as household debt load continued to rise.
Earlier, the Revenue Department said it would not extend allowing investment in LTFs and RMFs to be deductible for personal income tax, as high-income earners enjoyed higher benefits than low-income people.