The Thai Chamber of Commerce (TCC) has set up a special committee to assess the flood situation and find ways to ease the hardship facing inundated factories, TCC chairman Pongsak Assakul said on Thursday.
Mr Pongsak said the panel also has responsibility for gathering flood damage information and proposing solutions to problems, to be put for discussion at the next meeting of the Joint Public and Private Sector Committee chaired by Prime Minister Yingluck Shinawatra.
He said the TCC meeting acknowledged that Thailand is now being hard hit by both overseas and domestic negative factors which had widely affected the economy, manufacturers and all Thai people.
As a result, economic expansion in the fourth quarter of this year and the first quarter of next year could be lower than earlier expected, he said.
The special working committee comprises several sub-panels:
1) The panel for economic rehabilitation after the flood situation has returned to normal, chaired by TCC vice chairman Somkiat Anurath.
2) The panel for assessing the adverse effects of the ongoing economic crises in the US and Europe on the Thai economy, headed by TCC vice chairman Chatchai Bunrat.
3) The panel to oversee the government’s rice mortgage scheme, both on the risk factors and the possibility of corruption. This panel is chaired by TCC honorary chairman Pramont Sutthiwong,
4) The panel on implementing the 300 baht daily minimum wage policy of the government, led by TCC vice chairman Phumin Harinsuth.
Mr Somkiat said the meeting of TCC agreed on frameworks to help flood victims, including the provision of assistance to them, rehabilitation of the economy after the floods recede, and drawing up of long-term flood prevention plans to more effectively manage water resources in the future.
Mr Pongsak said the sub-committees would coordinate with the governments's working committee on flood relief and help exchange information between the public and private sectors.
The TCC also set up a flood war room as a centre for providing information on the flood situation faced by manufacturers in provinces nationwide.
The war room will provide assistance for TCC members affected by the floods and will be chaired by TCC secretary-general Vichai Assarasakorn.
Thanawat Polwichai, director of the Economic and Business Forecasting Centre, said the impact of wide-spread flooding could lower the economic growth projection for 2011 by about 1.3-1.5 percentage points, and the damage cost to gross domestic product would be around 1.56 billion baht.
Deputy Prime Minister Kittiratt Na-ranong said he will call a meeting of economic related offices, ministries of industry and labour, the Bank of Thailand and management of commercial banks to discuss the preliminary impact of the floods on the economy next Monday, Oct 17.
The meeting will also discuss measures to help the business sector affected by the floods.
http://www.bangkokpost.com/breakingnews/261160/tcc-sets-up-flood-ad-hoc-panel
Mr Pongsak said the panel also has responsibility for gathering flood damage information and proposing solutions to problems, to be put for discussion at the next meeting of the Joint Public and Private Sector Committee chaired by Prime Minister Yingluck Shinawatra.
He said the TCC meeting acknowledged that Thailand is now being hard hit by both overseas and domestic negative factors which had widely affected the economy, manufacturers and all Thai people.
As a result, economic expansion in the fourth quarter of this year and the first quarter of next year could be lower than earlier expected, he said.
The special working committee comprises several sub-panels:
1) The panel for economic rehabilitation after the flood situation has returned to normal, chaired by TCC vice chairman Somkiat Anurath.
2) The panel for assessing the adverse effects of the ongoing economic crises in the US and Europe on the Thai economy, headed by TCC vice chairman Chatchai Bunrat.
3) The panel to oversee the government’s rice mortgage scheme, both on the risk factors and the possibility of corruption. This panel is chaired by TCC honorary chairman Pramont Sutthiwong,
4) The panel on implementing the 300 baht daily minimum wage policy of the government, led by TCC vice chairman Phumin Harinsuth.
Mr Somkiat said the meeting of TCC agreed on frameworks to help flood victims, including the provision of assistance to them, rehabilitation of the economy after the floods recede, and drawing up of long-term flood prevention plans to more effectively manage water resources in the future.
Mr Pongsak said the sub-committees would coordinate with the governments's working committee on flood relief and help exchange information between the public and private sectors.
The TCC also set up a flood war room as a centre for providing information on the flood situation faced by manufacturers in provinces nationwide.
The war room will provide assistance for TCC members affected by the floods and will be chaired by TCC secretary-general Vichai Assarasakorn.
Thanawat Polwichai, director of the Economic and Business Forecasting Centre, said the impact of wide-spread flooding could lower the economic growth projection for 2011 by about 1.3-1.5 percentage points, and the damage cost to gross domestic product would be around 1.56 billion baht.
Deputy Prime Minister Kittiratt Na-ranong said he will call a meeting of economic related offices, ministries of industry and labour, the Bank of Thailand and management of commercial banks to discuss the preliminary impact of the floods on the economy next Monday, Oct 17.
The meeting will also discuss measures to help the business sector affected by the floods.
http://www.bangkokpost.com/breakingnews/261160/tcc-sets-up-flood-ad-hoc-panel
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