BANGKOK, 3 February 2013 The Ministry of Transport has completed a draft of law, intended for the country’s transport efficiency enhancement and logistics cost reduction. The draft will soon be submitted for Cabinet consideration.
Minister of Transport Chadchart Sittipunt said, on Sunday, that the ministry’s draft of a new Act to authorize the Ministry of Finance to borrow up to two trillion baht for the country’s widely-anticipated transport infrastructure development projects.
Mr. Chadchart stated that draft will soon be submitted to the Cabinet for review.
He added that the Ministry of Transport is also working on the details of all projects to be included in the full version of the law, as some of them may be implemented with funds from the state budget or under the Public-Private Partnership (PPP) initiative.
The Transport Minister said that a conclusion will soon be drawn and presented to the Cabinet.
Regarding the 2-billilon baht pension payout plan for the State Railway of Thailand (SRT)’s retired employees, Mr. Chadchart said that the Ministry of Finance will likely have to borrow to execute the payment, even though the original Cabinet resolution called for the use of the SRT’s own assets.