JSCCIB Calls For Extension of Diesel Subsidy

Date:

The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) has proposed several economic measures for the government to consider. These policies would mend the ailing economy battered by the ongoing conflict in Ukraine, the prolonged COVID-19 pandemic, and rising inflation.

According to the committee, these measures will maintain SMEs’ competitiveness, and alleviate the financial hardship of members of the public.

These policies include continuing diesel subsidy for another three months, along with reducing excise tax for diesel for another three months. The JSCCIB said the administration should look into reducing the cost of raw materials by reducing export tariffs and increasing the export quota for crucial items such as fertilizers.

The joint standing committee also suggested the government help entrepreneurs increase their liquidity by expediting tax returns and providing more low-interest loan schemes. Authority can also improve public spending by continuing the 50-50 copay and the “We Travel Together” campaigns.

The JSCCIB recommended the administration fully lift COVID-19 restrictions on economic activities, giving more freedom to businesses especially those in the entertainment industry. The government should also seek approaches to reduce other burdens on entrepreneurs such as reducing land tax collection.

The JSCCIB also supports the idea of fully opening the Kingdom.

Kris Lam
Author: Kris Lam

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Embassy of Thailand in Pakistan and Marriott Team Up for Thai Food Festival

The Marriott Hotel in Pakistan hosted a one-day Thai...

Exquisite Thai Products on Display at FTA Fair

The annual FTA Fair is being organized by the...

Mukdahan Water Projects Inspected by Deputy PM

Gen. Prawit Wongsuwan, Thailand's Deputy Prime Minister, recently traveled...

Thailand Post Introduces Electronic Post ID

With its new Digital Post ID service, Thailand Post...
X
X
X