Kittiratt to propose bill enabling multi-billion-THB loans for flood management

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BANGKOK, 17 October 2011  – Deputy Prime Minister and Commerce Minister Kittiratt Na Ranong will soon propose a bill that entitles the government to seek more loans for post-flood rehabilitation.

Mr. Kittiratt said the bill was necessary as the country was in dire need of a comprehensive water management and flood prevention systems while floods were becoming increasingly disastrous each year.

The Commerce Minister disclosed that a budget of two trillion baht would only be enough to relieve difficulties of flood victims and affected industrial operators and to rebuild damaged infrastructure. However, more cash injections are a must if the country needs to have comprehensive flood hazard management plans in which the help of foreign experts may be involved.

Mr. Kittiratt has earlier asked the government to include 50 billion THB more in the budget deficit in fiscal 2012 so that the cash can be used in the flood relief measures. He added that the Commerce Ministry would put a close watch on consumer product retailers to make sure they did not overcharge people. In addition, the Ministry will provide goods producers with new distribution channels and cooperate with the Industry Ministry in the increase of goods after the floods.