'No graft on latest mega-projects' seems more like a mega lie
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Mega-projects in themselves are very attractive for growing the Thai economy. If they are well funded to allow a high quality, low maintenance level projects ("to last 100 years" Kittiratt Na Ranong "comforts" us with) that will be good for the country. I
The payback on the loans will not take place for 10 years. Thirty per cent (the bung level) will be paid back over the next 20 years and actual projects paid for after that.
We have Kittiratt’s assurance on the viability of the projects. That makes me feel better but will it assure the money men that a white liar can be trusted with this amount of cash until he is 105 years old and another 12 governments have tried to rip a little bit more out of the contract.
I told a white lie. I do not feel better at all. I smell megalomania from a long way off
RICHARD BOWLER
bangkok
