Government to sue ‘terrorists’
[ul]
[li]Published: 26/05/2010 at 04:42 PM[/li][li]Online news: Politics[/li][/ul]
The government is considering suing the ‘terrorists’ who caused more than 100 billion baht in damage during the April-May riots for compensation, Finance Minister Korn Chatikavanij said on Wednesday.
He said the government would first consult with the Justice Ministry over this matter and would follow its legal advice.
"The government has meted out remedial measures, but since overall damages are more than 100 billion baht the government may not be able to take the whole burden.
“Therefore, if possible, we will demand compensation from the terrorists,” Mr Korn said.
The Criminal Court has approved arrest warrants for a number of anti-government United Front for Democracy against Dictatorship (UDD) leaders, including former prime minister Thaksin Shinawatra, on terrorism charges for their role in the UDD protests that culminated in a huge number of injuries, loss of life and damage.
Mr Korn said the government still had sufficient treasury reserves to compensate people affected by the riots.
By the end of fiscal 2010, the amount of treasury reserves was expected to exceed the previous estimate by about 200 billion baht and the government would use it for remedial measures. The amount did not include the 46.3 billion baht being seized from Thaksin and his family, he said.
The minister said the riots caused a major setback to the economy. Economic growth in the second quarter was certain to drop sharply from that of the first quarter.
Mr Korn was confident investment in the stock market would return to normal. If all people sent a clear signal that the recent demonstrations and riots were not acceptable, investors and tourists’ confidence would certainly be restored, he stated.
“The riots were a major setback to our economy. Let’s wait and see how the second quarter would be affected. No matter what, the overall economic growth would slow down,” he said.
Mr Korn said how long it would take to rehabilitate the country depended on the people’s cooperation. He believed the latest form of political struggle used by the red-shirt UDD would be no longer acceptable as it had caused considerable damage to the country.
On the 2011 Budget Bill debate, he believed all ministers concerned would be able to explain budget allocations under their responsibility.
Industry Minister Charnchai Chairungruang said his ministry will next week ask the cabinet for a one billion baht budget to assist small and medium businesses in Ratchaprasong area affected by the recent political violence.
The one billion baht would be used to provide soft loans to businesses short of cash needed to get production and product value back up to normal, Mr Charnchai said.
The ministry will also work the private sector in launching campaigns both in Thailand and overseas to restore the confidence of Thai and foreign investors, he said.
The two-month political rally and the anti-government riots last week could clip 1.1 per centage points from this year’s economic growth forecast, Fiscal Policy Office’s Macroeconomic Analysis Bureau director and Finance Ministry spokesman Akeniti Nititanprapas said.
“However, the Thai economy is supported by the strong GDP growth in the first quarter at 12 per cent and there’s a chance for the tourism sector to revive by the end of this year,” Mr Akeniti said.
The Finance Ministry still expected this year’s GDP would grow four to five per cent, he said.
“The ministry will revise the economic projection by taking into account the global economic expansion and the domestic political crisis before reporting its assessment on June 29,” he said.
However, he said, the political situation had reduced the number of foreign tourist arrivals for the first time in seven months at the rate of 0.2 per cent a year.
The consumer confidence index and the industries sentiment index also contracted in April, he said.
Moving to exports, Commerce Minister Porntiva Nakasai said the sector last month soared 35.2 per cent year-on-year and the trade value was about US$14.09 billion.
Mrs Porntiva said imports in April also grew 46.0 per cent year-on-year to $14.35 billion. As a result, the country had a trade deficit of $266 million.
“Exports have increased for six consecutive months and should continue expanding till the end of 2010,” she said.
Exports of all product categories moved up last month. Exports of agricultural and agro-industrial goods rose 27.5 per cent while exports of key industrial products saw a 37.1 per cent growth.
Important exported agricultural and agro-industrial products were cassava, sugar, frozen seafood, canned and processed food, fruits and vegetables.
However, the value and quantity of exported rice went down due to fierce pricing competition with Vietnam, Pakistan and India, in addition to the appreciation of the Thai baht.
The country also exported more electrical appliances, auto parts, plastic, rubber, cosmetics and jewellery.
In the first four months of this year, exports were worth $58.47 billion, up 32.45 per cent. Imports rose 54.88 per cent to $56.62 billion. This resulted in a trade surplus of $1.84 billion.
"One of the supporting factors for exports is the recovering global economy and exporters find the baht’s current value acceptable.
“The political situation has yet to affect exports but imposing curfews could cause some logistics problems,” Mrs Porntiva said.
The Commerce Ministry expected exports to grow $172 billion, or 14 per cent, this year.bron:http://www.bangkokpost.com
