Businesses seek financial help

A jewellery vendor arranges wares at a stall surrounded by empty shops in Siam Square on Sunday. (AFP photo)
A jewellery vendor arranges wares at a stall surrounded by empty shops in Siam Square on Sunday. (AFP photo)

Businesses operators are calling for financial relief measures including a debt moratorium and new loans with relaxed conditions.

The request to help small and medium enterprises was made ahead of Monday's meeting of the government's economic team called by Prime Minister Prayut Chan-o-cha.

Members of the team are expected to consider an economic relief package for businesses affected by the partial Covid-19 lockdown and curfew imposed for at least 14 days starting today.

Expected to be included is financial compensation for business operators who stand to lose income during this period.

Some operators have complained they are being asked to shut down temporarily when relief is not yet available.

The Thai Chamber of Commerce (TCC) asked the government to consider relaxing lending regulations so financial institutions can examine other factors beyond credit information from the National Credit Bureau when considering a loan application, said Sanan Angubolkul, chairman of the TCC.

Mr Sanan was speaking after a virtual meeting with Supattanapong Punmeechaow, Deputy Prime Minister and Energy Minister, and the Finance Ministry, the Office of the National Economic and Social Development Council, the Bank of Thailand, and the Office of SMEs Promotion.

Apart from better access to financial resources, business operators also need additional financial measures, including a debt moratorium, to help ease the burden of repaying current debts, said Mr Sanan.

He was citing opinions compiled from previous discussions with entrepreneurs, financial institutions and the Securities and Exchange Commission.

Vocabulary

  • call for: request or ask someone to do something - ขอ, ขอร้อง, เรียกร้อง
  • citing: mentioning as a reason - ให้ อ้างอิงเหตุผล
  • compensation: money that someone receives because something bad has happened to them - เงินชดเชย
  • enterprise: an organisation, especially a business - กิจการ, บริษัท,อุตสาหกิจ,วิสาหกิจ
  • moratorium (noun): a temporary stopping of an activity, especially by official agreement - ช่วงหยุดการกระทำไว้ชั่วคราว
  • operators (noun): people or companies that run a business - ผู้ดำเนินกิจการทางธุรกิจ, ผู้ประกอบธุรกิจ
  • package (noun): a set of items or ideas that must be bought or accepted together - รวมกันเป็นชุด
  • partial: in part, but not complete - บางส่วน
  • regulations: official rules that control the way that things are done - ระเบียบปฏิบัติ
  • relaxed (adj): (of a rule, control, condition, etc.) less strict - เข้มงวดน้อยลง
  • relief: help for improving a bad physical condition or a bad situation - การผ่อนคลาย, การบรรเทา
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