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Pheu Thai election promises to be honoured

By The Nation

Newly-appointed Finance Minister Thirachai Phuvanatnaranubala ponders the establishment of a joint public and private committee to monitor internal and external risks for prompt remedies.

He will chair the committee, which will have chiefs of Federation of Thai Industries and Thai Chamber of Commerce as members.

It is one of five policies that he announced today, when he officially take office. The others include tax policies promised by the Pheu Thai Party as well as coordination with the Bank of Thailand.

On fiscal measures, Thirachai vows to uphold fiscal disciplines while carrying out the election promises particularly tax restructuring, designed for greater efficiency and fairness. He will also seek discussion with other ministries to deal with large-sized investment projects, as prioritisation mut be adapted to meet the changing development policy as well as investment environment.

He also envisions close cooperation with the Bank of Thailand and other relevant units, to stabilise the financial sector and to ensure transparency. The future of the Financial Institutions Development Fund will also be discussed.

Under his reign, the ministry will also launch tax incentives to boost productivity, to help business operators cope with higher wage hikes.

In the near term, he would rush on financial assistance to flood victims.

Other economic ministers also showed their supports to Pheu Thai Party's election promises.

Transport Minister ACM Sukampol Suwannathat said that his ministry will proceed with the construction of 10 electric train lines in Bangkok which will charge all commuters at a flat rate of Bt20. He also promised to review Bangkok Mass Transit Authority's plan to acquire 4,000 NGV-driven buses.

He will also consider if the free bus and train services should be continued, citing that the number of beneficiaries is small. The services, to lower the poor's cost of living, are due to end in September.

-- The Nation 2011-08-15

[JetsetBkk]

"the establishment of a joint public and private committee to monitor internal and external risks for prompt remedies"

Pardon?

[Bizz]

With the $ going the way of the DoDo, well the Baht will go down.Can you wait till next Feb 2012 .