Arkhom tells state firms to speed up spending amid huge investment gap
Finance Minister Arkhom Termpittayapaisith has instructed state firms to speed up investments to shore up the country’s economy and told 17 loss-making state enterprises to find measures to improve their financial situations.
Arkhom was speaking at a meeting of executives of 52 state enterprises.
He said state enterprises had used only 60 per cent of their 350-billion-baht investment budget by the end of July, falling short of their 95 per cent target.
He added that the state firms’ combined assets of 14.7 trillion baht were large compared to Thailand’s GDP of 17.6 trillion baht.
“As a result, state enterprises play a crucial role in driving the country’s economy,” Arkhom said. “State firms must speed up investment budget spending, especially on mega projects that are crucial to the country’s development.”
Meanwhile, 17 state firms that had been accumulating losses for years must increase efforts to halt the slide.
Arkhom also assigned the following four policies to state firms:
– Improve performance by adopting new technologies.
– Protect the environment. PTT Plc, the Provincial Electricity Authority, Electricity Generating Authority of Thailand and the Metropolitan Electricity Authority must also minimise the impact of rising fuel prices on the public They must also support the transition from combustion engine vehicles to electric vehicles.
– Protect public health and the elderly while helping people to access funds.
– Guard food security. Arkhom said food-related state firms must develop new, alternative foods.
