Thai Finance Minister Affirms Govt Able To Seek 350 Billion-Baht Loan

[webfact]

Finance Minister affirms govt able to seek 350 billion-baht loan

BANGKOK, 29 January 2013 (NNT) – The Finance Minister has assured that the government will be able to acquire the entire amount of the 350 billion baht for its water management projects.

According to Finance Minister Kittiratt Na Ranong, the government’s water management and flood prevention projects are expected to be opened for bidding during February to April. He affirmed that the money for these projects will be acquired through an issuance of executive decree, allowing the ministry to seek loans of that amount. The government will obtain the entire amount of 350 billion baht by June 30th.

As for the Japan International Cooperation Agency (JICA)’s proposition to build the Ayutthaya-Bang Sai floodway, Mr Kittiratt said it was beneficial to the country, saying the government will consider all the bidders' plans. He insisted that all process will be transparent as this is an international bidding project.

Meanwhile, Democrat Deputy Leader Korn Chatikavanij has submitted an open letter to the Constitution Court stating that the government has no repayment plan for the 350-billion baht loan or a clear water management project.

It explained further that only 4.6 billion baht or 1% of the budget set aside since last year for water management has been disbursed so far, which shows that the the matter is not as urgent as claimed by the government. Mr Korn said the disbursed fund was also used for other projects not related to water management. He alleged that the government intended to wrongfully spend the money and no one could check it; the move would thus breach financial discipline and damage the country.

-- NNT 2013-01-29

related:

Thai Govt Hasn't Kept Its Word: Korn

http://www.thaivisa....-its-word-korn/

[rubl]

He affirmed that the money for these projects will be acquired through an issuance of executive decree, allowing the ministry to seek loans of that amount. The government will obtain the entire amount of 350 billion baht by June 30th.

JUst wondering. Is this theNation or did the Finance Minister really mean another executive decree to be issued for another 350 billion ?

[Ricardo]

Weren't these water-management funds meant to have been spent, in time to prevent the Devastating Great Flood Of 2012, lucky it didn't rain as much as in the previous year, but then those floods were clearly a plot by the evil-Democrats and Arch-Villain Abhisit, sent to punish the Glorious Thinker and his heroic local Actors !

Can Shin-Corp satellites also control the weather, from their mysterious secret-island base (It's in Dubai, not Pang Nga Bay, after all !), one might wonder ?

[rubl]

Weren't these water-management funds meant to have been spent, in time to prevent the Devastating Great Flood Of 2012, lucky it didn't rain as much as in the previous year, but then those floods were clearly a plot by the evil-Democrats and Arch-Villain Abhisit, sent to punish the Glorious Thinker and his heroic local Actors !

Can Shin-Corp satellites also control the weather, from their mysterious secret-island base (It's in Dubai, not Pang Nga Bay, after all !), one might wonder ?

Well, at least the government spent THB 120 billion on 2011 flood damage repairs, transparently it is suggested. Maybe those repairs made it less urgent to put in real flood prevention measures?

[MEL1]

"Mr Kittiratt said it was beneficial to the country, saying the government will consider all the bidders' plans. He insisted that all process will be transparent as this is an international bidding project."

So in effect, he's admitting that anything within Thailand as a project, or as bid for business transactions on a large scale, do comprise lack of transparency, i.e. corruption?

Nice one Kittiratt. We all knew, but good of you to finally confirm it for us in words!

-mel.

[ratcatcher]

Edited January 29, 2013 by ratcatcher

[Robby nz]

"Mr Kittiratt said it was beneficial to the country, saying the government will consider all the bidders' plans. He insisted that all process will be transparent as this is an international bidding project."

Would this mean that the Govt has no plans and will hope that some bidders come up with something that will do the job?

Wonder if there will be any international bidders from Dubai?

[mccw]

They need 350bl more for an undisclosed plan despite the fact that only 1% of current budget has been used. <deleted>. Hope the court stops this corrupt and reckless borrowing.

[Ricardo]

"Mr Kittiratt said it was beneficial to the country, saying the government will consider all the bidders' plans. He insisted that all process will be transparent as this is an international bidding project."

Would this mean that the Govt has no plans and will hope that some bidders come up with something that will do the job?

Wonder if there will be any international bidders from Dubai?

Better to use a front-company, resident in the B.V.I., or a Cambodian joint-venture perhaps ?

But with the benefit of Skype, as revealed by the recent article, it can be based almost anywhere, and still achieve the desired result.

[AleG]

"Mr Kittiratt said it was beneficial to the country, saying the government will consider all the bidders' plans. He insisted that all process will be transparent as this is an international bidding project."

Yep, just like those Government to Government Rice Scheme deals.