Opposition party Pheu Thai has condemned the government’s management of the Covid-19 crisis, saying total shutdown has had a devastating effect on the country’s economy. In a report in Nation Thailand, Paopoom Rojanasakul, vice secretary-general of the party says the hard-hitting restrictions imposed across the country have led to high unemployment, with the International Monetary Fund saying Thailand’s economy is the worst-affected in the region.

He adds that the IMF is predicting the economy here will shrink by 6.7%, saying Thailand has one of the world’s most negative GDP forecasts, despite appearing to have brought the virus under control quite quickly.

“The question that arises is, if Thailand has controlled the outbreak quicker than the other others, why is its economy worse hit than the others?”

Paopoom says the decision to essentially shut down the economy in the early stages of the outbreak is what caused the damage, not simply the fact that economic performance is dependent on the global economy as a whole. Pheu Thai says the government must act now to stop businesses from going under and to save jobs, saying the government got it wrong when it allowed employers to terminate their workers’ positions.

The party says employers should receive financial incentives to encourage them to keep their staff employed. Paopoom adds that what’s required is a policy of balanced measures that keep the economy running at the same time as the virus is being brought under control.

“The winner of this battle is a balanced state that can control the outbreak while also sustaining the economy until the world has a vaccine.”

SOURCE: Nation Thailand

“THAI will stop repaying all debt and start from scratch.”

The government announced today that Thai Airways will have to dismiss more than 6,000 employees after entering into receivership proceedings and a debt moratorium of 200 billion baht. The Cabinet decided to push Thai Airways into a bankruptcy procedure under the Bankruptcy Act and ordered the Ministry of Finance to relinquish their majority stake in the airline, thus stripping it of its state-enterprise status and enabling the proceeding under civil law.

A spokesman said the troubled national flag carrier, which racked up billions of baht in losses for years, will “stop repaying all debt and start from scratch”. 30% of its more than 20,000 employees, or some 6,000 people, are to be dismissed. They will receive 10 months salary as compensation as per the Thai labour laws.

Sources say the ‘rehabilitation’ of the airline could take at least one year. The bankruptcy must be declared in the US as well as in Thailand to avoid planes being seized or other asset forfeiture.

Yesterday it was reported that Airbus were chasing repayments for some of the leased planes. But today Airbus denied local reports that it had notified the airline of debts the struggling carrier owes for 30 rented aircraft, according to Nation Thailand.

The 53 Airbus aircraft used by Thai Airways includes six Airbus A380-800,12 A350-900s, 15 A330-300s and 20 A320-200s.

SOURCE: Nation Thailand

A Bangkok temple, where 6 people were shot and killed by the military during the 2010 “redshirt” political protests, has closed during the tragic event’s 10 year anniversary.

A sign was put in front of Wat Pathum Wanaram saying it was closed for “disinfection,” according to Khaosod. But many see the significance of the closure relating to the events a decade ago.

On May 19, 2010, 6 people taking refugee inside the temple were killed by soldiers. 5 of them were killed from troops who shot from the BTS skytrain rail track. 3 of the deceased were volunteer medics.

The temple was designated as a “safe zone” during the government crackdown of redshirt protests calling for an election and for parliament to be dissolved. The protests started around February of 2010 until the government crackdown in May that year.

94 people were killed during the crackdown, and the Bangkok Posts says most of them were redshirt supporters. The Post says 7 soldiers and 2 foreign reporters were also killed in the violence. In 2013, the court found that 6 victims at the temple were shot by troops, but they were unable to identify the soldiers.

SOURCES: Khaosod English | Bangkok Post| Bangkok Post