State firms' investments approved
The Cabinet yesterday approved capital spending for state enterprises at a combined worth of Bt498 billion for fiscal 2007, said Ampon Kittiampon, secretary-general of state think-tank the National Economic and Social Development Board (NESDB).
Ampon said yesterday actual spending next year was estimated to be about 80-85 per cent of the total investment plan. If so, capital spending would be up 10 per cent over this year. He said state enterprises were ready to spend about Bt284 billion on investment next year, while they would again seek Cabinet approval for additional spending worth Bt49 billion, emergency spending worth Bt39 billion and expenditures for office furniture of Bt100 billion. The Cabinet had assigned the Finance Ministry and the NESDB to monitor their spending on investment, as they wanted state enterprises to inject money into the economy during the delay of the central government's budget for fiscal 2007. The government and the NESDB expected that state enterprises could speed up their spending in the first six months of fiscal 2007, or between this October and next March. Ampon said state enterprises should be able to spend 6 to 7 per cent more than during the corresponding period in the previous year. He said state enterprises would invest in transportation and energy projects that led to less oil dependency. The central government is expected to set its expenditures at more than Bt1.4 trillion for fiscal 2007 and run a fiscal deficit.
Wichit Chaitrong The Nation
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