Thai Government plans to pay for most of dyke costs at industrial estates
The government will directly subsidize two-thirds of the cost to construct flood barriers at industrial estates, with authorities and park operators expected to sign an agreement soon.
The Industrial Estate Authority of Thailand (IEAT) will handle the budget for financial assistance to estate operators that have to prepare for flooding this year, Somchai Sujjapongse, director-general of the Fiscal Policy Office, said yesterday.
Although the government might face criticism for giving grants to private companies as it might go against the law, Somchai insisted that it could be done, since it was part of the government’s flood-prevention measures.
Somchai’s statement is in line with policymakers’ stance on the issue.
Deputy Prime Minister Kittiratt Na-Ranong has said the government does not want manufacturers in the seven industrial parks that were inundated last year to incur more costs and wants to win back their confidence so that they do not move out of the country. That means the government needs to offer financial assistance.
For full article in The Nation Click Here.