Thailand’s cabinet approved a raft of proposals in what’s likely to be its last meeting before Prime Minister Prayuth Chan-Ocha dissolves parliament to pave way for a general election.
(Bloomberg) — Thailand’s cabinet approved a raft of proposals in what’s likely to be its last meeting before Prime Minister Prayuth Chan-Ocha dissolves parliament to pave way for a general election.
A marathon meeting chaired by Prayuth on Tuesday endorsed the allocation of money for various ministries under the 3.35 trillion baht ($97 billion) budget for fiscal year 2024 starting Oct. 1, a 24 billion baht expressway project, and investments worth 62 billion baht by state-owned National Telecom in mobile networks and licensing.
The cabinet also approved salary increase worth 4.8 billion baht a year for municipal officials, a 716 million baht income guarantee program for corn farmers and low-interest loans worth 1 billion baht. The ministers also signed off on a proposal to extend income tax exemption or reduction on investment in depositary receipts tied to shares of companies listed outside Thailand.
Prayuth is bidding to extend his eight-year reign — first as a coup leader in 2014 and then as the head of an elected coalition since 2019. He’s the top candidate of a new conservative party after splitting with the military-backed ruling party that helped him stay in power since the last vote.
The meeting considered “more than 60 issues, with the most important being ways to ease people’s struggles,” Prayuth told reporters in Bangkok, without saying if it was the last cabinet huddle before parliament dissolution.
READ: How Military Has a Thumb on Scales in Thai Election: QuickTake
Prayuth may order the dissolution on March 20, Prime Minister’s Office Minister Thanakorn Wangboonkongchana told reporters before the cabinet meeting. The four-year term of the House of Representatives ends on March 23.
More on Tuesday’s cabinet approvals:
- Extends an excise-tax rebate of 5 baht per liter on retail diesel prices for another two months to ease the impact of high oil prices on consumers
- A 5 billion baht loan scheme for 100,000 cattle-raising households who are members of local village funds
- A floating solar and hydroelectric power plant for commercial operation this year
- Approves 150 million baht budget to subsidize cooking gas costs for 7.5 million welfare cardholders
- Approves guidelines and budget for clearing debt worth 15.5 billion baht owed by farmers to four state banks
–With assistance from Suttinee Yuvejwattana and Pathom Sangwongwanich.
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