Thailand's Cost Of Living Issues To Be Solved

[Jai Dee]

Commerce Minister assigns related agencies to solve the issues regarding the cost of living

Deputy Prime Minister and Commerce Minister Somkid Jatusripitak (สมคิด จาตุศรีพิทักษ์) has delivered a policy for senior officials to solve the issues regarding high cost of living despite the establishment of the new government.

Dr. Somkid revealed after the meeting with the ministerial senior officials that he has assigned all units under the Commerce Ministry to carry on their duties even though the new government has not been established yet.

He has instructed them to solve the issues related to the cost of living after the oil prices have increased. He said the ministry will use the “Blue Flag Market” project to provide cheaper consumer products. He disclosed that the market will be organized all over the country on the 3rd and 4th of June.

Dr. Somkid said his ministry together with the Interior Ministry and the private sectors will provide OTOP products at the fair as a mean to promote OTOP products.

The Commerce Minister also spoke about the balance of trade for the month of April, adding that Thailand had a deficit of US$ 551 million. He indicated that the Department of Export Promotion and the Department of Foreign Trade will have to work together to prevent the country from increasing its trade deficit.

Source: Thai National News Bureau Public Relations Department - 22 May 2006

[ovenman]

Deputy Prime Minister and Commerce Minister Somkid Jatusripitak (สมคิด จาตุศรีพิทักษ์) has delivered a policy for senior officials to solve the issues regarding high cost of living despite the establishment of the new government.

Again, were it not for those pesky protesters we'd all be livin' high off the ol' hog.

He has instructed them to solve the issues related to the cost of living after the oil prices have increased.

Good to know that these economic problems can be solved as simply as this TRT flunky giving the order to do so.

Dr. Somkid said his ministry together with the Interior Ministry and the private sectors will provide OTOP products at the fair as a mean to promote OTOP products.

There's the solution, more OTOP products for all!

[Plus]

So it's Somkid who solves the problems now, not Thaksin.

First he had to remind everyone that they have to carry on their duties. Apparently most Commerce Ministry officials thought they were on holiday til the next elections.

The best solution to inflation - one cheap OTOP in each house, and don't you worry about prices anymore.

And then tap into Blue Flag Markets - there are so many vendors who are dying to run their business at a loss and sell their stuff at below market prices. If they hesitate to join, put them on a drug blacklist.

Somkid is widely believed to be the most competent in the Cabinet.

[penzman]

Isn't OTOP simply a way to funnel goods through it's organisation, mostly profiting the ones at the top, not the producers?

[cclub75]

Commerce Minister assigns related agencies to solve the issues regarding the cost of living

Delightfull comments... Cost of living would be -in his mind- a "problem" that can "be solved".

Of course, Thailand has the power to change the world market of oil for instance ("70 USD per barril ? Nah ! Put it at 20, thanks"), Thailand has the power to make all the private businesses to increase wages of let's say... 20 %. And eventually, Thailand has power to reduce the prices of Mercedez Benz of 50 % (that last one would be very usefull).

Voila. It's the power of the words.

Ah, I've got another idea, that Thailand can really apply : reduce to 0 income taxe. And reduce to 0 the VAT.

Easy.

[Ricardo]

With such a clear insight into economics - this gentleman surely deserves a seat on the board of the IMF or World Bank, no ?

And since Thailand is now running a trade-deficit - why doesn't the Baht weaken, on the currency markets ? Solution - increase fares on Thai International & call upon hoteliers to up their prices, oh and let's have a Sale !

[ovenman]

With such a clear insight into economics - this gentleman surely deserves a seat on the board of the IMF or World Bank, no ?

It's worth noting that Dr. Somkid's background is in marketing (i.e. selling it), not finance or economics. Also recall that when Somkid was appointed Finance Minister back in 2001, it was only after the position had been refused by any number of other people, mostly from the banking industry. I have always affectionately referred to Somkid as The Shill.

[Scott]

But surely they can barter chickens for oil, can't they?

[astral]

I thought OTOP was aimed at the export market..........

Which does not really help the internal price of living.

However some price control in essentials will help the average Thai shopping basket and prevent price gouging.......... perhaps.

After all this is Thailand.