Published on November 03, 2005
Tariffs on ink and goods to be axed
Finance Minister Thanong Bidaya plans to cut tariffs for printing products to reduce the cost of books and encourage more people to read.
He said the Fiscal Policy Office was studying the feasibility of restructuring import tariffs for printing and publishing machinery. The goal is to form conclusions this month to put to Cabinet. Thanong said the new tariff rate should become effective this year. “The current tariff structure on printing equipment is strange and doesn’t help create reading habits,” he said. “I ordered the Fiscal Policy Office to conclude the study in two weeks. “I want to see zero-per-cent tariffs for books, paper and ink.” Deputy director general of the Fiscal Policy Office, Somchai Sujjapongse said that currently the tariffs for printing works are around 5 to 10 per cent, while the paper stands at 5 per cent and ink at 10 per cent. – The Nation. -------------------------- Thai beverage: No listing in ’05 Thai Beverage Plc, the Chang Beer brewer, is unlikely to list on the stock market this year because the Securities and Exchange Commission has yet to reach a decision whether it will allow alcohol producers on the local bourse. “We submitted the listing filing in September but the SEC has yet to officially start considering our filing. Also, no conclusion has been reached whether an alcohol business can list,” Thai Beverages executive Kasemsant Weerakun said yesterday. Thai Beverage was expected to be one of the country’s biggest initial public offerings, raising funds exceeding Bt35 billion. The company planned to float 7 billion shares to the public. Its registered capital after the share allocation would be raised from Bt22 billion to Bt29 billion. Whether the flagship business under liquor tycoon Charoen Sirivadhanabhakdi can list on the Thai stock market remains uncertain following strong protests from social activists and the Santi Asoke and Dhammakaya Buddhist sects. Thai Beverage made a net profit of Bt5.2 billion in the first six months of this year, compared with Bt10.35 billion for all of last year. – The Nation. -------------------------- Bottled green tea: Oishi price cut Oishi bosses met yesterday with the Commerce Ministry and expressed its intention to reduce retail prices for bottled green tea in response to a government request for its cooperation. The Internal Trade Department recently announ-ced a retail price cap of Bt15 for bottles of ready-to-drink green tea in the wake of complaints of overpricing. Deputy Commerce Minister Preecha Laohapongchana said rising oil prices have had little effect on the trendy product’s distribution costs, and his ministry had concluded that the real cost of a 500cc bottle was Bt4 to Bt5, compared with a market price of Bt20. Tan Passakornnatee, president and CEO of Oishi Group, which has the largest share in the local market, said the company would like to take a month to study cost reduction methods to reduce prices in line with the ministry’s policy. – The Nation.
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