Soft loans for tourism operators mulled in bid to avert worker layoff 

By THE NATION

 

Uttama Savanayana

 

The Finance Ministry may extend soft loans to operators in the tourism sector, currently reeling from the coronavorus crisis, as a means to avert a mass layoff of workers.

 

 

Minister Uttama Savanayana made the remark on Friday (February 14) after a meeting of the ministry's agencies on measures to mitigate impact of the virus on the sector.

 

Soft loan was one of the options discussed in the meeting, he said, adding that the meeting focused on short-term measures. 

 

The Finance Ministry may also offer incentives to tourism operators as an encouragement for keeping their employees, Uttama said. 

 

Deputy Prime Minister Somkid Jatusripitak, who presided over the meeting, said he had instructed all state agencies present in the meeting to immediately draw up measures and rush them to the Cabinet. He wants to see their implementation in March.

 

Somkid added that both the finance and tourism ministries would have to launch new packages to promote domestic travel by Thais. For example, there should be a package designed for elderly travellers and their kids can use their travel spending receipts for a deduction in income tax.

 

Source: https://www.nationthailand.com/business/30382150

 

-- © Copyright The Nation Thailand 2020-02-15

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14 minutes ago, rooster59 said:

soft loans to operators in the tourism sector

More loans will only delay the inevitable. Why not admit its game over.

19 minutes ago, rooster59 said:

Somkid added that both the finance and tourism ministries would have to launch new packages to promote domestic travel by Thais. For example, there should be a package designed for elderly travellers and their kids can use their travel spending receipts for a deduction in income tax.

I take it this will wait until the Coronavirus has officially disappeared from Thailand.

We don't want to encourage travelling right now surely, increasing the risk of infection. Or will they run it on the same basis as Chinese travellers coming to Thailand, and ignore the risk completely?

I would think the smart thing to do was not to encourage travel even for Thai's stay at home reduce the risk, but then who am I?

3 minutes ago, ChipButty said:

I would think the smart thing to do was not to encourage travel even for Thai's stay at home reduce the risk, but then who am I?

Someone putting health and logic before money.

The problems with the loans is they have to be paid back. Which means to stay afloat later, they will have to raise their prices 20% ish to cover the bank loan costs !

13 minutes ago, RichardColeman said:

The problems with the loans is they have to be paid back.

Now that's an interesting concept!

High spending domestic Thai travelers they mean at the never ending ministry of discussions ????

30 minutes ago, ChipButty said:

I would think the smart thing to do was not to encourage travel even for Thai's stay at home reduce the risk, but then who am I?

A cherished kind of potato sandwich.

25 minutes ago, RichardColeman said:

The problems with the loans is they have to be paid back. Which means to stay afloat later, they will have to raise their prices 20% ish to cover the bank loan costs !

 

In Amazing Thailand this is not a problem. The wonderfully competent junta government will arrange loans to help pay of the original loans and finance it all by selling more high interest bonds to the Chinese. Easy.

 

A new term will enter the lexicon.

 

Juntanomics

 

Too much to expect a scrapping of the TM30 reporting requirements to encourage domestic tourism a wee bit.

They're trying EVERYTHING except lowering the baht.

In 2014, when the junta started over tightening visa rules, I asked a farang restaurant owner how was business.  He said: "We lost  almost all of our regular customer.s, but we still have tourists thankfully".  He closed shop a year later.  The green team has and will continue to fail Thailand, and the youth know this.

Yep grandma and grandpa somchai are really going to want to go to Pattaya and Phuket LOL.  I guess we willhave to change walking street to walker street.

 

Instead of beer they serve prune juice.  Not sure how this is going to help the girls though.

 

Giving loans is stupid give them a tax break.  As a business owner tell me I can have 3 months where I do not have to pay all the extra <deleted> for emplyees.

 

That would help my business.

"Soft" loans should include a stout stick. Could be used to beat a dead horse.