Thai business council calls for government support to ease virus impact

[snoop1130]

Thai business council calls for government support to ease virus impact

 

FILE PHOTO: An empty street is seen in the touristic district of Bangkok, as Thailand will impose a nationwide night curfew from Friday April 3, to try to curb the spread of the coronavirus disease (COVID-19) outbreak in Bangkok, Thailand, April 2, 2020. REUTERS/Jorge Silva/File Photo

 

BANGKOK (Reuters) - Thailand’s business advisory council will urge the government on Monday to deploy support measures for farmers and small- and medium-sized businesses as the coronavirus pandemic drives Southeast Asia’s second-largest economy toward a recession.

 

The central bank has forecast the economy to shrink 5.3% this year for its the weakest performance since the 1998 Asian financial crisis, as the pandemic could bring losses of more than $40 billion and up to 10 million jobs..

 

Key steps include cash handouts of 15,000 baht ($461.82) for each farm household, a one-year moratorium on debt, and a fund of 50 billion baht to boost farm output, the panel of government and business agencies said in a statement.

 

It will also push for lower social security contributions by smaller firms, three-time tax deductions on spending, and financial support for lay-offs, among other measures, it added.

 

The measures are to be presented to the prime minister later on Monday, council chairman Thosaporn Sirisumphand, who also heads the state planning agency, told reporters.

 

“Several measure are being worked on by relevant agencies and could be implemented immediately,” he said. “Some others will need further discussions.”

 

The government has introduced billions of dollars worth of measures to cushion the impact of the virus, with the king approving its $58-billion economic plan on Sunday.

 

Thailand, which has reported 2,792 virus infections and 47 deaths, has imposed a night curfew, having closed malls and banned passenger flights to limit spread of the disease.

 

-- © Copyright Reuters 2020-04-20

 

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[Somewhere In Time]

15 minutes ago, snoop1130 said:

Thailand, which has reported 2,792 virus infections and 47 deaths, has imposed a night curfew, having closed malls and banned passenger flights to limit spread of the disease.

...and concurrently implemented an alcohol ban for the balance of April to staunchly combat the Chinese virus.

 

The financial support outlined above for farmers and small/medium size businesses would be an outstanding gesture; most needed.

 

As the daily numbers continue to encourage,  hope springs eternal a modest return to normalcy can/will be realized in early May.  

 

Big decision(s) ahead. 

 

SIT

[ukrules]

Thai people are about to find out how valued they are by the government.

[hotchilli]

12 hours ago, snoop1130 said:

Key steps include cash handouts of 15,000 baht ($461.82) for each farm household

We're broke.....

[owenm]

My Thai GF in Bangkok was approved for the 5000bht handout a week ago, then on the way to the bank rcd an sms advising that her payment had been cancelled.. No reasons why, and apparently many 10s of thousands in the same situation.. Has anyone heard of these handouts flowing through again? And is it only for the month, or will the originally promised 3 mths still going to be paid out? 

 

I know there was backwards and forwards talk of, we will not leave anyone out, we can only afford for one month, too many have applied and less than half will get any payments, and then PM saying miscommunication and misunderstanding and everyone will be paid.

 

Then begging to the top 20 wealthy Thais to make a donation to assist Thailand in this time of need.. 

What is the current stance, does anyone know?? 

Edited April 21, 2020 by owenm
correction

[cornishcarlos]

3 minutes ago, owenm said:

What is the current stance, does anyone know??

 

Why do you think they are trying to speed up the re-opening ?? 

Realised their empty promises were liable to cause a bit of trouble, so get people back to work so no need to pay up...

[Almer]

3 hours ago, cornishcarlos said:

 

Why do you think they are trying to speed up the re-opening ?? 

Realised their empty promises were liable to cause a bit of trouble, so get people back to work so no need to pay up...

Could prove to be very very expensive if they open up to quick and then welcome 10s of thousands of Chinese who are seeing there own restrictions put back in place due to another outbreak i read, this is not going to end anytime soon, and my fear is once they relax in LOS it will be party time for all and that will prove the downfall, and will will add another 12 months to the LOS recovery, we have to suffer now to enjoy the better times later including Thai's many of who do   still do not get it inc my sister in law who invited us to her house last Saturday for  a bbq, some just don't get it or don't care and they are the dangerous ones, and no we didn't go to her bbq

Edited April 21, 2020 by Almer
Spelling

[Almer]

3 hours ago, owenm said:

My Thai GF in Bangkok was approved for the 5000bht handout a week ago, then on the way to the bank rcd an sms advising that her payment had been cancelled.. No reasons why, and apparently many 10s of thousands in the same situation.. Has anyone heard of these handouts flowing through again? And is it only for the month, or will the originally promised 3 mths still going to be paid out? 

 

I know there was backwards and forwards talk of, we will not leave anyone out, we can only afford for one month, too many have applied and less than half will get any payments, and then PM saying miscommunication and misunderstanding and everyone will be paid.

 

Then begging to the top 20 wealthy Thais to make a donation to assist Thailand in this time of need.. 

What is the current stance, does anyone know?? 

Is it money that is requested or is it manufacturing help, it would be clever for any country to step up production of PPE at this time i understand from the UK press that 150.000 protective gowns are needed everyday and they are struggling to get them, they just delivered 150.000 a single days needs from Myanmar, if its money it needs to go straight to those who need it not just because they claimed we all know not all who claimed need it but how is it controlled, my wife had 11 freelancers working for her all are in need of help back home with there families and only 2/11 were successful, my wife is now suffering with 3 closed shops with rents to pay etc and no help, 

Politicians are damned if they do and damned if they don't but governments have some big big calls to make on both health and economics we have to hope they make the right calls because there futures are also very much on the line.