PM urges Finance Ministry to help baht surge-affected businesses

BANGKOK, Sept 23 – Prime Minister Abhisit Vejjajiva on Wednesday revealed he had instructed the Finance Ministry to prepare rescue measures for businesses affected by the baht surge.

He said measures applied by the Bank of Thailand (BoT) to prevent speculation on the baht are considered part of its efforts to oversee movement of the currency.

What the ministry has been urged to do now is to help business groups affected by the surge, particularly exporters who must bear costs in baht denomination.

“These groups are not those who import raw materials. Most are small- and medium-size enterprises (SMEs), so the Finance Ministry is asked to [act] to help them in particular,” he said.

Asked whether government would cash in on the baht surge to rush to repay foreign debts, the premier said those responsible for debt management would consider the proper timing to do that.

Still, he conceded it is a most appropriate time now to import machinery to upgrade the production capacity of Thai industries.

Mr Abhisit is in the US to attend the 65th session of the United Nations General Assembly in New York. (MCOT online news)