NESDB expediting state enterprise investments

Noting that the delayed formation of the new government would result in a knock-on delay to the announcement of the budget for the fiscal year 2024, which would normally begin in October 2023, NESDB secretary-general Danucha Pichayanan said the Council aimed to address this by expediting the injection of funds into the system during the fourth quarter of this year to support the economy. This acceleration involves channeling funds from state enterprise investments into the system.

The fund comprises more than 342 billion baht, made up of the state enterprise investment budget for the fiscal year, totalling approximately 142.73 billion baht, and an additional 200 billion baht in locked state enterprise investment for the fiscal year, which will be presented for consideration by the NESDC board of directors next week.

Regarding the use of state enterprise mechanisms in this operation, NESDC sees it as a means to support Thailand's economy from the end of this year through the beginning of next year pending the announcement of budget expenditure for fiscal 2024.

The 142.73 billion baht budget for the fiscal year 2024 is divided a 97.54 billion baht investment for public companies as follows:

-PTT, 92.29 billion baht

-National Telecom, 5.17 billion baht

-MCOT, 82 million baht

A total of 45.19 billion baht is given to state enterprises under the following ministries:

- Ministry of Energy, 3.47 billion baht for the Electricity Generating Authority of Thailand (Egat), 12.60 billion baht; EGAT International, 587 million baht; Electricity and Chilled Water Generating, 284 million baht.

-Interior Ministry, 30.78 billion baht for the Metropolitan Electricity Authority, 11.80 billion baht; and the Provincial Electricity Authority, 18.98 billion baht.

- Ministry of Digital Economy and Society for Thailand Post, 829 million baht

- Ministry of Natural Resources and Environment, for Forest Industry Organisation 105 million baht.

With respect to state enterprise investment fund involving 24 entities and totalling 149.38 billion baht, the formation of the new government will be awaited before requesting approval from the parliament and issuing it as law. It is allocated separately from the budget proposed by NESDC.