Govt's Bt3bn to kick-start exports
The Commerce Ministry plans to spend Bt3 billion to Bt4 billion to help manufacturers - especially in the hardest-hit industries such as autos and parts, electronics and electric appliances, and farm equipment - as well as individuals to cope with the hig
“We need to ensure buyers that exports from these industries will resume shortly after the water subsides,” permanent secretary Yanyong Phuangrach said yesterday.
The proposal will soon be presented to Commerce Minister Kittiratt Na-Ranong and then forwarded to the Cabinet for approval.
Much of the budget will be used to promote overseas marketing and restore foreign confidence.
The rest of the funds will be used to support export guarantees, liquidity to exporters and bargain-priced-product fairs to help consumers who are now shouldering a higher cost of living.
October inflation may rise to more than 4 per cent year on year on higher manufacturing and transport costs, higher demand for some goods, and tighter supply of agricultural products, according to the ministry’s preliminary report.
It will today release the Consumer Price Index for October. Inflation was 3.75 per cent in the first nine months of the year, above the ministry’s target of 3.7 per cent.
To rein in escalating prices, the ministry has put nine necessities under control, including bottled water, fibre-glass boats and rubber boots, after complaints about gouging. For example, rubber boots must not be sold for more than Bt200 a pair.
Deputy Commerce Minister Poom Sarapol said the stringent measures would help protect consumers from unscrupulous trade practices.
To help ease food prices affected by disrupted production, 3.2 million eggs from Malaysia will reach Thailand on Thursday for retailing at no more than Bt4 each.
The ministry will also sell rice at Bt100 per 5kilogram bag. Next week, about a million packs will be delivered to supermarkets and large retail outlets in the flooded provinces.
