Infrastructure loans will fund risky projects

As a Thai citizen who has been watching the government and some members of the House of Representatives and Parliament robbing my homeland, I can’t idly sit by and let them ruin the country. Many of these crooks don’t live up to their promises, and they forget the oaths they took in front of His Majesty the King: to perform their duties honestly, and diligently.

Didn’t these people feel any conscience before casting their votes, and how these votes could damage our country? Surely they are not blind to the consequences and the hardship that will inevitably result from the grandiose projects they endorse? 

Mr Boonjong Wongtrairat of Bhum Jai Thai, MP for Nakhon Ratchasima, reminded the government to adhere to its promises to adopt the sufficiency economy in its framework, and suggested that the bill be withdrawn in favour of public hearings being conducted first. I totally agree and support this common-sense proposal, and believe most people do too. Unfortunately, his suggestion fell on deaf ears. 

The loan of Bt2-trillion is a huge amount of money, much more than anyone could expect. The repayment period of 50 years with an interest of Bt3 trillion is beyond comprehension, and I would think unacceptable to any Thai who is able to grasp the implications involved.

I’m calling on all citizens to take this issue very seriously, as it involves generations to come. We have the right to accept or reject it! It is wrong for a few self-interested people to decide whatever they like, and then let our children face the consequences.

Since this government took over the administration of the country, taxpayers’ money has been extravagantly spent for the benefit of an elite group. Let us not fool ourselves and instead accept the fact that we are still a poor country, and many things you see are illusions!

In truth, there is no easy or jump-start possible. Rome wasn’t built in a day and it took Singapore about 50 years to attain its current status. As a child, I remember Singapore as a congested grubby port of call with a majority of poor inhabitants. That gradually changed under the strong leadership and good governance of Mr Lee Kuan Yew, who did what we cannot seem to do – eliminate the cancer of government corruption, which in Thailand, still spreads relentlessly and malevolently throughout our nation.

If we could only do that, it would not take us 50 years to transform our Kingdom into a paradise.

The government states it will borrow the money internally so that most of the interest would remain in the country. I would like to know how many people in Thailand have such a large sum of money? Or might it be a loan permitting politicians and government officers to launder their own ill-gotten gains?

With this, the income gap between the rich and the poor will likely become wider. The target group of passengers the government has in mind will not fill a high-speed train every day. They have other travel options, and the regular passengers will most likely be members of the two Houses, and government officers who enjoy free rides. The prime minister wants to help farmers by transporting vegetables by high-speed trains, but the freight costs will likely make them unaffordable to ordinary people.

If the government still has doubts on the project, they should seek advice from the US, Germany and England. My advice is go back to China who offered to build it for us for free of charge. The government should strictly embrace the concept of a sufficiency economy, accept reality and stop building castles in the air. Anybody travelling on our current railway network in its current state of maintenance, punctuality and service standards would wonder how on earth we would possibly handle the advanced technology of a high-speed train. We should perhaps get that right instead, expand it to serve more provinces and cities, make it reasonably fast, and operate it efficiently at a cost affordable to all. That will win everybody’s approval and everybody’s vote.

Let me conclude by quoting His Majesty's wise words in this subject:

“Economic development must be done step by step. It should begin with the strengthening of our economic foundation, by assuring that the majority if our population has enough to live on…Once reasonable progress has been achieved, we should then embark on the next steps, by pursuing more advanced levels of economic development.”

Dusit Thammaraks

Bangkok