Government massive infrastructure investment transparent

BANGKOK, Oct 24 (TNA) -- Reiterating that massive investment in transportation infrastructure would not pose heavy debts for Thailand, but rather generate income for the country in long-term, a government spokesman said it is necessary for the government to stimulate the country’s economy although global economy has slowdown. Government spokesman Maj Gen Sansern Kaewkamnerd said transportation investment by the government between 2015 – 2022 is vital as it would help boost the country’s economic growth, consumption, create new employment, income distribution, helps balanced commodity prices and the country’s current account. On anxieties by the people of rampant corruption as well as creating long-term debts, Maj Gen Sansern said government spending on these projects would be transparent and an “Integrity Pact” was used in which the government which is the owner of the project, the private sector who wins the bidding and the social representative have co-signed to prevent corruption. Any project which needs an investment exceeding 50 million baht, a report by a particular government agency must report the progress of the work done to a committee which will forward it to the cabinet, said Maj Gen Sansern. He said a budget disbursement on any project that will be carried out by the government will take years to pay and the government would not commit in a single payment while some projects will be invested by private investors only. (TNA)