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Cabinet approves oversight for stimulus



The Cabinet yesterday approved the framework for monitoring government spending under the "Thailand's Strength" programme. Prime Minister Abhisit Vejjajiva said after the meeting that the government would ensure close scrutiny of the investment projects, as it did with fiscal budgets.

"There will be no change in the projects, and if there is any money left from them, it will be returned to the Finance Ministry," he said.

Watchara Kanika, deputy government spokesman, said the Cabinet also authorised the investment committee chaired by Sathit Limphongpan, permanent secretary for finance, to prioritise the public investment projects under the second stimulus package.

Government agencies have until the middle of this month to propose more projects.

Projects worth Bt1.06 trillion have already been approved out of the target of public investment worth Bt1.56 trillion from this year through 2012.

Abhisit said the government bonds for partially financing the projects will be available for subscription next week.

On Tuesday, the Finance Ministry will summarise the projects to be completed in the first phase of the programme, with assurance that the projects will be executed quickly to boost the economy.

The Finance Ministry has indicated that the projects ready to be implemented are worth about Bt230 billion.

Abhisit said the Cabinet next Tuesday would consider extending the government's five cost-of-living relief measures, which are due to expire this month, for six more months.

The five measures, which were introduced for six months, were a cap on the cooking gas price, free rides on public buses and economy class trains, and free water and electricity.



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