Kittiratt: No more price fixing

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The government cannot set the prices of products and services because Thailand operates an open economy, Deputy Prime Minister Kittiratt Na-Ranong said on Monday.

Mr Kittiratt said Thailand is part of the open global economy and the government cannot fix product prices as before.

"We have to accept that if the government does not deal with some product prices that have been fixed unnaturally, there can be serious damage to all sides in Thailand, especially when the country becomes part of the Asean Economic Community (AEC) in 2015.

"The government is now handling the problem of high product prices but some of them will have to be allowed to reflect the real cost. The government is also finding ways to raise people's earnings," the finance minister said.

His comment came after the latest survey conducted by the Abac Poll showed most people are concerned about the rising prices of products and services.

Meanwhile, Prime Minister Yingluck Shinawatra said the rental fee for a stall at the Chatuchak weekend market set by the State Railway of Thailand is suitable.

Ms Yingluck said this after representatives of traders led by Chatuchak Market Cooperative chairman Sanguan Damrongthai submitted a letter to her calling for justice.

She said she will make sure that the right to run a business at the market is given to real traders, not to people who intend to sub-lease the rights to other vendors.

The letter was received on her behalf by Prasit Chaiviratna, her deputy secretary-general, Pol Maj-Gen Wichai Sangprapai, the metropolitan police deputy chief, Yutthana Thapcharoen, the SRT governor, and Sombat Rattano, the adviser to the transport minister.

The traders want the rent to be not more than 1,000 baht per month with a 30-year lease contract. The rent set by the SRT is 3,652 baht per month.

 

They also demanded that they be allowed to take part in the market's administration.

Mr Sanguan said if the government fails to meet their demands, the traders will submit a petition to the Administrative Court.

Prime Minister Yingluck is due to officially visit Japan for three days from Tuesday to Thursday to strengthen ties with Tokyo and restore investors’ confidence after last year’s catastrophic floods.

Ms Yingluck said she will use the occasion of the 125th anniversary of the establishment of diplomatic relations between Thailand and Japan to enhance cooperation in all areas, namely politics, security, economics and society as well as develop closer ties with Tokyo in the Asean and the Greater Mekong Subregion (GMS) countries.

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Edited March 6, 2012 by FarangFarang