Govt to discuss post-flood relief plans with business & financial sectors

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BANGKOK, 15 October 2011  – Deputy Prime Minister and Commerce Minister Kittirat Na Ranong will convene a meeting with trade and financial related organizations early next week to talk about post-flood business plans.

Mr. Kittirat will invite representatives from the Thai Bankers Association, the Federation of Thai Industries, and the Thai Chamber of Commerce to the flood operation center at Don Muang Airport to discuss debt restructuring plans to help flood-hit investors on October 17.

Meanwhile, Industry Minister Wannarat Channukul will also propose a plan to exempt affected industrial operators from annual fees as well as extension fees on factory permit. Mr. Wannarat also plans to spare those who have to bring in machinery from abroad from import duties.

The cabinet on Tuesday asked each ministry to provide 10 percent of its budget receiving for fiscal 2012, for post-flood rehabilitation. The allocation will create a total fund of about 80 billion THB to be paid to affected households at 5,000 THB each. Mr. Kittirat said the government would also expedite formalities to ensure that the Village Fund Project would be implemented in February next year, in an effort to revive the economy.