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Published on October 10, 2007

But you haven't hit rock-bottom yet. The worst is yet to come.

MCOT reported on its website yesterday that the Social Security Office's computer system might be affected by a possible online shutdown.

The SSO has become the last resort of the unemployed as they don't have to travel to different agencies to seek allowances when they are out of a job. The service can be accessed online.

But MCOT reported on its website yesterday that the SSO might face an online shutdown because the computer company responsible for the system might not be able to afford its monthly Internet fee of Bt900,000.

The news report didn't give much detail on why the company responsible for the SSO could not afford to pay the fee. But if it were really the case, the jobless will be forced to commute to three different agencies to get unemployment assistance.

Labour Congress of Thailand chairman Panas Thailuan said a shutdown would affect 9.1 million unemployed workers.

SSO secretary-general Surin Jirawisit, however, urged people not to panic. He said the SSO would certainly renew the contract. The permanent secretary of the Labour Ministry was scheduled for a discussion with the computer company yesterday. The result should be in favour of the SSO service users.

Fiscal monk

Guess who's the most influential person when it comes to the Kingdom's monetary policy?

Prime Minister Surayud Chulanont? Bank of Thailand Governor Tarisa Watanagase? Finance Minister Chalongphob Sussangkarn?

Think again. Chalongphob yesterday asked the Cabinet to withdraw the Currency Bill from the National Legislative Assembly's debate after the revered Buddhist monk Luangta Maha Bua expressed his strong opposition to the amendment.

The monk disagreed with a clause in the bill which will give more power and flexibility to the central bank in managing foreign reserves. Although Luangta Maha Bua is not an economist by training, the monk's followers and friends last week submitted a letter to the ministry on his behalf to express his disagreement. The monk said the bill might create another crisis like we saw in 1997, which prompted him to mobilise funds to support the government's reserves.

The monk's source of concern was the money that he mobilised from the public during the 1997 crisis: Bt8.5 billion in the form of gold bullion, donated to the central bank in 2002.

The government and the central bank said several times the bill should be beneficial for the country. The monk apparently had the final say, as Chalongphob yesterday decided to abruptly withdraw the bill from NLA consideration.

So, now you know that Luangta Maha Bua is not only a spiritual leader, but also a guru of monetary policy.

busdsk@nationgroup.com