Fetco clarifies its proposal
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The Federation of Capital Market Associations clarified that it does not propose a market support fund in light of recent sharp falls in the Stock Exchange of Thailand. One of the seven proposals it floated on Sunday, however, urged the government to set
"I insist that there was no proposal for a market support fund, as that runs against nature and could waste the national budget," said Paiboon Nalinthrangkurn, president of the federation.
He noted that a fund with an objective like the Vayupak Fund established eight years ago would be favourable, as with professional management, the Finance Ministry's idle assets would be invested for higher value. This would help reduce the budget and also develop the capital market. As the Finance Ministry's holdings are cut, this would increase the free floats in the stock market and promote good governance among listed companies owned by the ministry.
