Private Sector Lauds Ncpo’S Economic Roadmap

[waerth]

http://englishnews.thaipbs.or.th/private-sector-lauds-ncpos-economic-roadmap/

 

The economic roadmap revealed by the National Council for Peace and Order receives support from the private sector with the Thai Chamber of Commerce and the Federation of Thai Industries (FTI) saying it could help bolster economy and stimulate growth.

Thai Chamber of Commerce vice president Somkiat Anuras said he was confident that investors’ confidence in the country’s economy would improve after tensions among conflicting sides have eased following the coup.

He said the NCPO’s economic roadmap has shed light on the gloomy Thai economy and enhance the people’s confidence.

“We have studied the NCPO’s economic roadmap and we can say that the NPCO’s has done good homework in the roadmap. The sooner the eight-point roadmap is implemented, the better the Thai economy will be.â€

He also said the joint effort of the NCPO and the Bank for Agriculture and Agriculture Cooperative (BAAC) to resolve overdue payment worth 90 billion baht for rice farmers sold under the previous government’s rice pledging scheme will help improve the economy as the amount of money circulating in the market will increase to some 300-400 billion baht.

The spending could help to boost the economy to grow at 3% this year in contrast to earlier projections of 1.5% by private and public sectors.

The Thai Chamber of Commerce will hold talks with seven other private organizations to forge an economy strategy and propose it to the NCPO, he said, adding that he would also call the NCPO to allow general elections to form a civilian government as soon as possible.

FTI President Suphan Mongkholsuthee also hailed the NCPO’s economic roadmap, saying the NCPO has shown strong determination to solve the country’s economic problems.

He said the FTI plans to propose its economic stimulus plan to the NCPO.

The plan seeks to restructure seven aspects, including education, investment, society, civil servant regulations and innovations.

It will also ask the NCPO to grant authority to the Board of Investment of Thailand (BoI) to consider mega investment projects and BoI’s sub-committee to consider medium projects.

Power Buy, a leading electrical appliance retailer senior marketing director Ms Sangthip Amornchat, also viewed political tension has eased after the NCPO seized power from the caretaker government without any violence.

She said the NCPO’s economic roadmap will help boost people’s confidence and purchasing power and stimulate the economy.

[radioman]

Figure I might have missed something here. Anyone have a pointer to this economic roadmap?

[Flashermac]

Money for farmers, liquidity for SMEs economic priorities

 

 

The economic chief of the National Council for Peace and Order yesterday promised to help farmers get their dues under the rice-pledging scheme and assured easy access to liquidity for small and medium-sized enterprises as its priorities.

 

Air Force chief Air Chief Marshal Prajin Juntong, who is also the NCPO's economic chief, addressed a meeting with Finance Ministry officers and state-enterprise employees at the ministry yesterday. He outlined a three-stage economic plan dealing with urgent issues, short-term and long-term.

 

"We will maintain peace to win over the confidence of investors and consumers while finding ways to stimulate the economy at the same time. Urgent issues will be dealt with first and a complete road map will be presented to the public by next week," he said.

 

Among the urgent issues, the NCPO has assigned the Finance Ministry to secure Bt92 billion in funding to repay farmers who are owed under the rice-pledging scheme through the Bank for Agriculture and Agricultural Cooperatives.

 

'Boost to GDP'

 

The NCPO and Finance Ministry permanent secretary Rungson Sriworasat believe the overdue rice-pledging payments will boost gross domestic product by 0.2 per cent through increased spending by farmers. The NCPO will also speed up the implementation of the fiscal 2015 budget to meet the schedule by October.

 

Regarding value-added tax, which is currently at 7 per cent, Rungson said the ministry had proposed an extension of the rate for one more year before raising it. This is now under the consideration of the NCPO. The junta has instructed relevant agencies to speed up state spending and said projects that could not be completed under the 2014 budget could be considered for the 2015 budget.

 

Other urgent issues include helping SMEs by providing easier access to cash. The NCPO will instruct the Thai Credit Guarantee Corporation to guarantee SME loans without collateral upto a total of Bt165 billion.

 

In the short term, the NCPO plans to continue with part of the water-management and infrastructure plans, but it will select the most urgent ones such as flood prevention and double-tracking railways. It will only consider projects that can be approved within the budgetary period, and ones that will not create fiscal strain.

 

As for long-term development, the NCPO has instructed financial agencies to do their "homework" and present their plans to the junta by Saturday.

 

 

http://www.nationmultimedia.com/business/Money-for-farmers-liquidity-for-SMEs-economic-prio-30234702.html