Yanyong worries House dissolution would impede government projects

Monday, 09 December 2013 By  NNT

BANGKOK, 6 December 2013 - Deputy Commerce Minister Yanyong Phuangrach expressed concerns that various projects of the government, including the rice mortgage scheme, would be interrupted should Parliament be dissolved.

Mr. Yanyong revealed that at the moment the effects of the political turmoil on exports cannot be determined yet, as most of the export orders are placed 3 months in advance. He however said as long as the country's logistic system is still functional, the export sector should remain relatively safe.

Mr. Yanyong also extended his concerns over the currently low investor confidence, saying foreign investors might decide to pull out their capital which would create huge impact on the manufacturing sector, particularly the automobile, electrical appliance and electronic parts industries.

He speculated that investors might have doubts over the stability of the government and its ability to continue with its major projects, especially the 350-billion-baht water and flood management project and the 2.2-trillion-baht infrastructure overhaul project.

Moreover, the deputy minister expressed his opinion that if Parliament was dissolved or the Prime Minister resigned, several policies, such as the rice pledging program, would have to be put on hold. He said should the predicament take place, prices of rice would plummet, and so would the prices of other crops.

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