Khon Kaen Chamber urges rapid election endorsement for timely fiscal boost

The Khon Kaen Chamber of Commerce urged a swift endorsement of General Election results to ensure the timely allocation of the fiscal 2024 budget for the Thai economy. Channarong Buristrakul, the chamber’s president, stressed the importance of forming a new government without delay and removing any hindrances to effective governance.

The chamber emphasized the need for a new government to convene the fiscal budget meeting in August, allowing for a seamless fiscal 2024 budget utilization. Channarong, who also serves as managing director of the Piman Group, praised several policies of the Move Forward Party for their potential positive impact on the property sector, reported Bangkok Post. He said…

“Their welfare policy will make everyone happy, particularly lower-income earners. Another is decentralization, replacing centralization. This shift will empower local communities and stimulate local economic growth.”

Channarong highlighted the challenges faced by lower-income individuals seeking home ownership and high levels of household debt. He suggested the new government should focus on increasing income opportunities and reducing unnecessary expenses to ease these difficulties.

The Move Forward Party (MFP) proposal to implement electric public buses in every province is a policy that could address these issues, according to Channarong. The initiative would lower living costs for people, enabling them to redirect their budget toward home purchases.

Introducing electric public buses would also have environmental benefits, including reduced carbon emissions and PM2.5 pollution. Improved transportation options would enhance foreign tourists’ experiences and boost tourism revenue by eliminating the need to deal with taxi mafias.

Channarong revealed that Khon Kaen City Development, a consortium of 20 firms in the province, would support the introduction of electric public buses, as it would be faster than the light rail project they had proposed to the government for several years.

He also agreed with the MFP’s proposal for a minimum daily wage of 450 baht, stating that it could drive fundamental changes in the economy, despite potential benefits and drawbacks.

“The new government should avoid policies focusing on giveaways and freebies. These policies can result in market instability and economic fluctuations since their impact would be short-term and limited,” he concluded.