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Published on October 29, 2007

Korbsak Sabhavasu, a member of the party's economic strategy team, said the policy would draw in investment and favour employment.

"The announcement to scrap the 30-per-cent reserve requirement shows the Democrats' clear stance to support foreign investment to stabilise the baht at a level that supports exporters. The more investment, the more employment," he said.

Finance Minister Chalongphob Sussangkarn on Friday said the Democrat Party's policy would cause the value of the baht to shoot up without measures to curb unpredictable movements.

Chalongphob said the global economy was greatly affecting Thailand's economy.

Korbsak said a minister should not treat a political party in such a manner in the run-up to the election.

He said Chalongphob should be expected to criticise all the parties as his criticism had affected the Democrats' popularity.

Korbsak said the government should be working very hard to solve the problem of high inflation.

An easy measure is temporarily or partially halting the contribution to the State Oil Fund, especially for diesel and gasohol.

It would reduce pressure on business operators and ease the burden on consumers, he said.

If the Democrats take power, they will immediately stop the contribution to the fund.

After the election, the fund's debt should be reduced, so the contribution could be lifted without affecting the national budget, Korbsak said.

Bancha Khaengkhan

 The Nation