Opposition to impeach finance minister over savings fund

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BANGKOK, May 30 – The opposition Democrat Party is planning to impeach Finance Minister Kittiratt Na-Ranong for violating the law which requires the government to set up a National Savings Fund.

Democrat MP Korn Chatikavanij said Mr Kittiratt, concurrently also serving as deputy prime minister, failed to set up the fund within the 360-day deadline after an official announcement in the Royal Gazette in May last year which compels the government to form such a fund for elderly and retired people.

He said the National Savings Fund project has not materialised even after the deadline, adding that over 12 million elderly people have had their welfare ignored, which costs Bt114 billion due to the finance minister’s failure to take any action.

He said 125 Democrat MPs will endorse the impeachment and called on MPs from other political parties to join the move.

Finance Minister Kittiratt said he wanted to thoroughly study requirements of the National Savings Fund to avoid a similar mistake as the Civil Servants Pension Fund.

The law for a National Savings Fund was passed in the Abhisit Vejjajiva government.

Mr Kittiratt said there are several questions concerning the fund which need clarification.