ID :
195028
Thu, 07/14/2011 - 12:39
Auther :
Shortlink :
http://m.oananews.org//node/195028
The shortlink copeid
Wage hike to cost businesses Bt140 billion
BANGKOK, July 14 (TNA) - The University of the Thai Chamber of Commerce (UTCC) predicts that a rise in the minimum wage to 300 baht a day will raise private sector costs up to 140 billion baht.
Thanavat Polvichai, director of the UTCC’s Economic and Business Forecasting Center, made the prediction on Thursday, saying that the wage hike would drastically affect small and medium enterprises (SMEs), and could prompt foreign investors to relocate production bases outside Thailand.
He explained that under the prospect Thailand would not have any new investment project, saying that the new government under the Pheu Thai Party should then prepare cushioning measures.
The Thai expert also dismissed Pheu Thai's plan to control product prices, saying that it would distort manufacturers’ costs.
He noted that the country’s inflation rate should stand at 4 per cent this year due to the envisaged price ceiling on products as well as a planned cut in contributions to the State Oil Fund. (TNA)
Thanavat Polvichai, director of the UTCC’s Economic and Business Forecasting Center, made the prediction on Thursday, saying that the wage hike would drastically affect small and medium enterprises (SMEs), and could prompt foreign investors to relocate production bases outside Thailand.
He explained that under the prospect Thailand would not have any new investment project, saying that the new government under the Pheu Thai Party should then prepare cushioning measures.
The Thai expert also dismissed Pheu Thai's plan to control product prices, saying that it would distort manufacturers’ costs.
He noted that the country’s inflation rate should stand at 4 per cent this year due to the envisaged price ceiling on products as well as a planned cut in contributions to the State Oil Fund. (TNA)
