According to Mr Chartree, operators wishe to extend the leasehold from 2 years to 5 years and the renewal lease term to 30 years. The group also requested that the ministry amend certain terms in the lease contract with the State Railway of Thailand (SRT) to ensure fairness to operators.
He elaborated that their previous long-term contract with the Bangkok Metropolitan Administration allowed vendors to use a 30-year property lease as collateral for a bank loan, which facilitates more business transactions.
Transport Minister, Chat Kuladilok, responded to the association’s concerns by saying that the ministry is forwarding their proposal of an extended lease contract to Prime Minister Yingluck Shinawatra. He added that the SRT is in the process of recruiting an experienced individual to oversee the management of the Chatuchak market.