GSB ready to assist THAI, Oil Fuel Fund

GSB ready to assist THAI, Oil Fuel Fund

A Thai Airways International Boeing 777-300ER aircraft is seen parked at Suvarnabhumi airport.
A Thai Airways International Boeing 777-300ER aircraft is seen parked at Suvarnabhumi airport.

The Government Savings Bank (GSB) stands ready to extend loans to Thai Airways International (THAI) and the Oil Fuel Fund to boost their liquidity if the government adopts a policy for it to do so, said GSB chairman Prapas Kong-Ied.

He added that though the national flag carrier is no longer a state enterprise, it is still majority owned by the state.

However, the airline has yet to apply for any loans from the bank, he said.

He said THAI has considered applying for a syndicated loan of around 25 billion baht in the form of a joint loan extension by around 4-5 banks to boost its liquidity.

He added that the Oil Fuel Fund has yet to ask for a loan from GSB. As in the case of THAI, the bank would consider extending a loan to the fund if it were government policy.

The fund is in talks with state-owned banks for loans worth 30-40 billion baht to boost liquidity, enabling it to subsidise the domestic oil price.

In a separate development, Mr Prapas said the Finance Ministry's probe committee has submitted to Finance Minister Arkhom Termpittayapaisith the result of its scrutiny of the transparency of the bidding process of the Treasury Department's concession to manage and operate the main water transmission pipeline system in the East.

Mr Prapas said the committee is waiting for the minister to make any order regarding the submitted result.

In March, the Treasury Department named Vongsayam Korsang Co the winning bidder.

Later, the ministry set up a committee to investigate the transparency of the bidding process as ordered by the prime minister.

The Pheu Thai Party says it will make transparency a key issue during a no-confidence debate expected in July in relation to this bid.

Do you like the content of this article?

BoT: Policy tightening will not disrupt recovery

Thailand's economy will continue growing this year and next, driven by a recovery in domestic demand and tourism, the central bank said on Monday.


Bangkok to have 33 seats at general election

Bangkok will have the most electoral seats up for grabs at the next general election, 33, followed by Nakhon Ratchasima with 16, according to the Election Commission's Facebook post on Monday.


Full vaccination, negative tests allow quick entry for arrivals

From July 1 travellers arriving by air must be fully vaccinated or test negative for Covid-19 to enter the country immediately, according to the Civil Aviation Authority of Thailand.