Search Results for: budget bill
- Thailand News
Thailand to launch 50 billion baht SME support scheme
Thailand’s Ministry of Finance is set to endorse a new credit guarantee scheme, known as PGS 11, with a funding pool of 50 billion baht (US$1.4 billion baht). This initiative, revealed by Radaklao Intawong Suwankiri, the Deputy Government Spokesperson, is designed to bolster small and medium enterprises (SMEs) in three key industries. Radaklao announced today that Krissada Chinavicharana, the Deputy…
- Business News
Thai govt considers issuing US$1 billion foreign currency bonds
The Thai government recently announced its consideration to issue foreign currency-denominated bonds valued at US$1 billion, approximately 36 billion baht, an announcement which has sparked debates over the worth and risks associated with such an undertaking. As part of this move, the Public Debt Management Office (PDMO) under the Finance Ministry is examining the feasibility of offering these bonds in…
- Thailand News
Thai police officers face bankruptcy with debt over 300 billion baht
Police General Torsak Sukvimol has indicated that a multitude of law enforcement officers across Thailand are facing impending bankruptcy due to an accumulated debt totalling around 300 billion baht. This revelation came about during his interaction with the House committee tasked with reviewing the 2024 annual budget expenditure bill. Pol. Gen. Torsak was summoned to respond to inquiries concerning the…
- Thailand News
UK and Thailand unveil 15.3 billion baht science fund
In a historic move announced in Bangkok, the British Embassy and Thailand Science Research and Innovation (TSRI) have joined forces to roll out the International Science Partnerships Fund (ISPF). This jaw-dropping 337-million-British-pound (15.3 billion baht) venture, set to be fully operational by the year’s end, is poised to revolutionise the realms of science and innovation on a global scale. Prompted…
- Thailand News
Kanchanaburi to benefit from 12 billion baht water diversion project
Kanchanaburi’s five districts are set to benefit from a water diversion tunnel project that aims to alleviate drought problems. The project, which is valued at 12 billion baht (US$335,746,080), seeks to transfer 378 million cubic metres of water from the Srinagarind Dam, the largest dam in the western region, to an area of 200,000 rai in the Huay Krachao, Lao…
- Thailand News
Thailand’s agriculture ministry seeks triple budget increase to boost farmer income
A request for a substantial budget increase to 411 billion baht for the upcoming fiscal year has been put forward by Thailand’s Ministry of Agriculture and Cooperatives. The proposed budget, which is over three times larger than the previous year’s allocation, aims to triple the income of farmers within the next four years. Chantanon Wannakejohn, serving as the Secretary-General to…
- Phuket News
Making waves: Phuket water projects dive deep into billion-baht territory
The Phuket Provincial Water Resources Subcommittee delved into water projects exceeding 1 billion baht yesterday and made quite a splash. The meeting, held at Phuket Provincial Hall and chaired by Phuket Vice Governor Norasak Suksombun, saw a flood of attendees from various government agencies. The discussion navigated through the island’s rainfall patterns, water levels in its three main reservoirs, water…
- Thailand News
Bangkok Metropolitan Council approves 23.4 billion baht for Green Line extension
The Bangkok Metropolitan Council (BMC) gave the green light for a whopping 23.4 billion baht payment to the Bangkok Mass Transit System Plc (BTSC) for crucial electrical and mechanical (E&M) installation work and operation services for the Green Line’s second extension. This decision comes after a crucial meeting that saw high-ranking officials deliberate the fate of the city’s transportation system.…
- Thailand News
Royal Thai Air Force plans 19 billion baht for new fighter jets acquisition
The commander-in-chief of the Royal Thai Air Force (RTAF), Punpakdee Pattanakul, announced a budget request for the upcoming fiscal year totalling 19 billion baht (US$537 million), intended for the acquisition of new fighter jets. These could potentially be the US F-35 or Sweden’s Gripen E/F. Despite the recently instated government offset policy, Punpakdee’s comments suggest the RTAF’s determination to secure…
- Cannabis
Thailand’s Cannabis empire worth an estimated 2 billion baht
Cannabis in Thailand since its decriminalization on June 9, 2022, not only marked a monumental step forward in the entire South East Asian region but also an opportunity for an estimated whopping 2 billion investment value to the land of smiles. Enter Every Day Cannabis Co., Ltd provides professional consulting as well as agricultural planning and technology. Every Day Cannabis…
- Business News
Thai Cabinet ratifies 3.6 trillion baht budget for fiscal year 2025
The Thai Cabinet ratified a 3.6 trillion baht budget for the fiscal year 2025. This sees an expansion of the budget deficit to 713 billion baht, a 2.89% increase from the previous year. The new budget was approved by the Cabinet on Tuesday, following its presentation by the Budget Bureau. It was announced by the Deputy Government Spokesperson, Rudklao Suwankiri.…
- Thailand News
Thai government’s 500 billion baht Digital Wallet Scheme hangs in the balance
The eagerly anticipated meeting of the Digital Wallet Committee has been abruptly postponed. Commerce Minister Phumtham Wechayachai revealed that the delay hinges on the National Anti-Corruption Commission’s (NACC) awaited verdict. Council of State’s Secretary General, Pakorn Nilprapunt advocated for the committee to seek input not just from the Council of State but also from the NACC. Last week, the Council of…
- Business News
Thai-llywood lights, camera, baht! 2023 sees record of 6.6 billion baht roll in from film shoots in Thailand
A record-breaking 6.6 billion baht was generated by over 466 film shoots in Thailand in 2023, marking an impressive 40% increase in revenue from the previous year. This remarkable upturn was largely credited to the production of high-budget films, including a blockbuster with a budget of 3 billion baht. Jaturon Phakdeewanit, the head of the Tourism Department, noted the significant…
- Politics News
Thailand’s opposition questions rising military budget amid promised reforms
Opposition parties in Thailand expressed concern over the budget allocations for the country’s military, arguing that these contradict the Pheu Thai Party’s commitment to reform and downsize the armed forces. The concerns were voiced during a debate on the 2024 budget bill, with Aekkarat Udomamnuay, an MP with the Move Forward Party (MFP), questioning the Defence Ministry’s request for 198…
- Thailand News
Democrat Jurin calls government budget plan ‘lame duck’
Jurin Laksanawisit, a Democrat party-list MP, slammed the Thai government, branding its budget a “lame duck catastrophe.” Unleashing a fiery critique, Jurin accused the ruling Pheu Thai Party of political trickery, leaving the nation teetering on an economic tightrope. Jurin took centre stage, launching an attack against the government’s budget yesterday, January 3. Describing it as a lame duck, he…
- Business News
Gunkul Engineering targets 25 billion baht to fund renewable energy projects
Gunkul Engineering Plc, a leading renewables developer and construction company, announced intentions to generate 20.8-25 billion baht (US$607 million-730 million) through fundraising. The raised funds are earmarked for the development of 17 renewable energy initiatives, as part of the government’s 5.2-gigawatt renewable scheme. The company’s chief financial officer, Thitipong Techaratanayuenyong, disclosed the plans. In the previous year, Gunkul Engineering participated…
- Economy News
Thailand’s biggest budget requests come from interior, education, finance ministries
Thailand’s parliament has disclosed that the Interior, Education, and Finance ministries are making the largest budgetary requests for the ongoing fiscal year. The budget bill, which governs annual expenditure, is set for its initial reading from January 3 to 5, and is anticipated to be approved by April. This follows a delay due to the transition from the preceding to…
- Thailand News
3.48 trillion budget approved by Cabinet for next year
Prime Minister Srettha, in a post-Cabinet meeting press conference declared that the budget bill, meticulously scrutinised by the Office of Council of State, will be delivered for approval. Typically, budget bills are sealed and delivered before the fiscal year kicks off in October. However, this year’s extravaganza faced a dramatic delay, thanks to the intricate dance of forming a coalition…
- Thailand News
Government to shoulder Covid-19 insurance claims as insurers buckle under 60 billion baht payouts
Deputy Finance Minister Julapun Amornvivat has revealed that the Thai government may have to step in to assist with the hefty burden arising from Covid-19 insurance claims. The grim situation has seen total payouts skyrocket to almost 60 billion baht, leaving non-life insurance companies in shambles and prompting the closure of those unable to meet the financial demands. Julapun disclosed…
- Business News
PTT’s OR diversifies with budget hotels and community malls at petrol stations
PTT Oil and Retail Business Plc (OR) is renewing its focus on diversifying its non-oil business ventures, with plans to construct budget hotels within its petrol stations and incorporate community malls catering to tourists. The company’s President and Chief Executive, Disathat Panyarachun, shared these developments. The next quarter will see OR onboarding a business consultant to oversee the hotel project.…
- Thailand News
Thailand’s 2 billion baht electricity subsidy for 17.7 million households
The Thai Cabinet has allocated 2 billion baht to subsidise electricity costs for 17.7 million vulnerable households. The scheme, set to be a new year’s gift, will apply to those using no more than 300 units of electricity per month, maintaining a cost of 3.99 baht per unit. Deputy Prime Minister and Energy Minister Peeraphan Salirathaviphak, stated today, December 8,…
- Business News
Thai government approves 8 billion baht scheme to tackle PM2.5 pollution
To mitigate the escalating PM2.5 pollution problem, the government recently approved a scheme worth 8 billion baht designed to incentivise sugarcane farmers to modify their harvesting methods. The initiative, which is set to be implemented in the 2022/23 harvest year, encourages farmers to cut fresh sugarcane without burning the residue, a practice known to be a significant contributor to the…
- Thailand News
Thai PM plans revision of 5.1 billion baht for national art and culture
Prime Minister Srettha Thavisin yesterday announced plans to revise the substantial sum of 5.1 billion baht (US$145 million), originally designated for the promotion initiatives of national art and culture by the National Soft Power Development Committee (NSPDC). The Thai prime minister expressed the need for judicious use of the funds to maximise efficacy. PM Srettha’s statements followed the NSPDC’s second…
- Thailand News
Thailand’s plan to extend Songkran raises eyebrows and 5.1 billion baht in soft power bid
Thailand‘s iconic Songkran Festival might be turning into a month-long water extravaganza in a bid to boost the country’s soft power, or a potential disaster waiting to happen? Thailand’s political arena is buzzing with controversy as the Pheu Thai Party, led by Paetongtarn Shinawatra, unveils an audacious plan to extend the beloved Songkran Festival. The goal? To solidify the nation’s soft…
- Thailand News
Shinawatra greenlights 5.1 billion baht for soft power industries and Songkran
The Soft Power National Development Committee, headed by Paetongtarn Shinawatra, has approved a budget of 5.1 billion baht to boost 11 industries in Thailand, including the Songkran festival. The plan includes a grand Songkran celebration, dubbed the World Water Festival – The Songkran Phenomenon, to draw international tourists to Thailand. The announcement was made on December 1. The Soft Power…
- Thailand News
Thai govt’s 500 billion baht digital wallet scheme awaits legal review
The Thai government’s bill proposing a loan of 500 billion baht to fund the 10,000-baht digital wallet scheme is yet to be reviewed by the Council of State for its legality, according to the council’s secretary-general, Pakorn Nilprapunt. This came as a rebuttal to Deputy Prime Minister Phumtham Wechayachai’s previous statement that the loan bill was under the council’s vetting…
- Thailand News
Thai government to finance digital wallet scheme with 500 billion baht loan
The Thai government has plans to secure a loan of 500 billion baht to finance a digital wallet scheme, revealed Prime Minister Srettha Thavisin. This digital wallet scheme is targeted towards Thai citizens who are 16 years and older, earning less than 70,000 baht per month with less than 500,000 baht in bank deposits. The 61 year old Thai prime…
- Business News
Rice to the occasion: Thai government shells out 55 billion baht for price stability
The Thai government sanctioned measures totalling 55 billion baht to secure stable rice prices for the 2023 to 2024 harvest season, as confirmed yesterday by Commerce Minister Phumtham Wechayachai. The approved strategy includes providing loans to farmers to withhold the sale of their paddy rice for five months and to agricultural cooperatives for market intervention until prices improve. Farmers who…
- Phuket News
Phuket: 3 billion baht for pipeline to solve water issues and boost tourism
Phuket officials announced plans to yet again request a budget exceeding 3 billion baht for the construction of a water supply pipeline from Phang Nga to Phuket, aiming to resolve ongoing water issues and bolster tourism in the region. The budget request confirmation emerged during a meeting led by Phuket Governor Sophon Suwannarat at Phuket Provincial Hall. The meeting highlighted…
- Thailand News
Thai government denies plans to slash digital wallet initiative budget, aimed at boosting economy
The Thai government has refuted rumours of cutting funds for the digital wallet initiative from 560 billion baht (US$ 15,426,997,600) to 400 billion baht (US$ 11,019,284,000), stating that the project is not just for the underprivileged but aimed at stimulating the economy more broadly. The government is keen on weeding out the wealthy from benefiting from the scheme, which is…
