Thailand army rulers prepare emergency economic measures

Jun 02 2014, 11:09 IST
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SummaryThe military junta running Thailand has drawn up a list of emergency measures such as price caps on fuel and loan guarantees for small firms to kick-start an economy threatened by recession after months of political turmoil.

The military junta running Thailand has drawn up a list of emergency measures such as price caps on fuel and loan guarantees for small firms to kick-start an economy threatened by recession after months of political turmoil.

The plans, outlined by Air Chief Marshal Prajin Juntong late on Sunday after a meeting with officials at economic ministries, take in longer-term measures such as the development of special economic zones on the borders with Myanmar, Laos and Malaysia.

The military toppled the remnants of former Prime Minister Yingluck Shinawatra's administration on May 22 after months of protests that had forced government ministries to close, hurt business confidence and caused the economy to shrink.

Yingluck herself was ordered to step down two weeks before the coup when a court found her guilty of abuse of power.

As well as working to revive the economy, the military council has moved to suppress criticism of the coup and nip protests in the bud.

Yingluck, as well as prominent supporters of her and her brother, former premier Thaksin Shinawatra, have been briefly detained and warned against any anti-military activities.

On Sunday, the army council sent 5,700 troops and police into central Bangkok to stop anti-coup protests, which were mostly limited to small gatherings held around shopping malls.

The military has banned political gatherings of five or more people and protests that have taken place in Bangkok since the May 22 putsch have been small and brief.

On Saturday, as on the two previous days, the authorities closed normally busy roads around Victory Monument, which was becoming a focal point for opposition to the coup. The area was flooded with police and troops but no protesters turned up.

PRICE INSURANCE

Thailand's deep political divide pits the Bangkok-based royalist establishment, dominated by the military, old-money families and the bureaucracy, against supporters of former telecommunications mogul Thaksin, who is adored by the poor in the north and northeast.

Considered the power behind Yingluck's government, Thaksin was ousted as prime minister in a coup in 2006 and has lived in self-imposed exile since fleeing a 2008 conviction for abuse of power.

Air Chief Marshal Prajin, who is overseeing economic matters for the junta, said 30 urgent proposals on the economy would be discussed with coup leader General Prayuth Chan-ocha on Tuesday and Wednesday.

Among them, Prajin mentioned a form of price insurance for rice farmers. This would replace a costly buying scheme run

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