Luangta Maha Bua's followers press for decree cancellation
More than twenty monks and followers of Luangta Maha Bua, a highly revered Buddhist monk, whose donation campaign helped boost foreign reserves, today submitted a petition to Deputy Prime Minister Kittiratt Na-Ranong, asking for the cancellation of a plan
Yesterday, they submitted a petition to Finance Minister Thirachai Phuvanatnaranubala, expressing dissatisfaction over the decree which would change the way the Financial Institutions Development Fund's debts are managed. They feared that the decree would allow the government's control over the foreign reserves.
In the letter, it stated that the Section 7 (2) and (3) would pose danger to the economic stability, as it could give power over international reserves to the government.
It said that if the reserves were touched, the economy would be hit and go bankrupt.
The followers said that the late monk preached several times about the importance of the reserves and told them to safeguard the reserves.
