ID :
46513
Thu, 02/19/2009 - 20:52
Auther :
Shortlink :
http://m.oananews.org//node/46513
The shortlink copeid
Thai PM: No policy to use taxes to bail-out private firms
BANGKOK, Feb 19 (TNA) - Thai Prime Minister Abhisit Vejjajiva said on Thursday that his government has no policy to spend taxpayers' money on boosting liquidity or salvaging any private firm.
His comments were made after the American firm General Motors announced in the US earlier in the week that it would cut 47,000 jobs globally by the end of the year or 19 per cent of its workforce. Jobs outside the US would account for 26,000 of the reductions.
The company said it needed about US$6 billion in support from the governments of Canada, Germany, Britain, Sweden and Thailand to provide liquidity for its operations in those countries.
But Mr. Abhisit said his government would rather compile problems faced by the entire auto industry and see what problems the government could help solve so that the business could continue.
Financial assistance to a particular firm would be "impossible," Mr. Abhisit said.
Meanwhile, Arthit Wuthikaro, director-general of the Office of Industrial Economics, said the auto industry in Thailand this year is expected to drop more than 20 per cent in line with the global economic slump.
Mr. Arthit said his office has cooperated with the Thailand Automotive Institute to allocate Bt50 million to improve auto production and another Bt30 million on developing personnel skills in a project involving both Japan and Thailand. (TNA)
His comments were made after the American firm General Motors announced in the US earlier in the week that it would cut 47,000 jobs globally by the end of the year or 19 per cent of its workforce. Jobs outside the US would account for 26,000 of the reductions.
The company said it needed about US$6 billion in support from the governments of Canada, Germany, Britain, Sweden and Thailand to provide liquidity for its operations in those countries.
But Mr. Abhisit said his government would rather compile problems faced by the entire auto industry and see what problems the government could help solve so that the business could continue.
Financial assistance to a particular firm would be "impossible," Mr. Abhisit said.
Meanwhile, Arthit Wuthikaro, director-general of the Office of Industrial Economics, said the auto industry in Thailand this year is expected to drop more than 20 per cent in line with the global economic slump.
Mr. Arthit said his office has cooperated with the Thailand Automotive Institute to allocate Bt50 million to improve auto production and another Bt30 million on developing personnel skills in a project involving both Japan and Thailand. (TNA)
