Shipper’s Council urging govt to take serious action on rising Baht

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BANGKOK, 30 April 2013 The Thai National Shippers’ Council (TNSC) has urged the government to take serious action to deal with the rising Baht as the impact of the currency is expected to take its toll on the export sector in the second quarter. 

The TNSC said in addition that the Bank of Thailand (BoT) should try to contain the Baht rise by collecting capital gain tax or adopting a capital control to rein in the influx of foreign currencies.

However, the TNSC said the private sector only wants the Baht to stabilize disregarding how much the currency should be devalued and urges the government to be more proactive in solving the issue. Additionally, the TNSC will propose its solutions to the BoT for consideration, hoping urgent measures will be issued to keep the Baht at an appropriate level.