EXIM´s loans given to Myanmar to be reconsidered

BANGKOK, 3 March 2010 (NNT) – The Finance Ministry and the Export-Import Bank of Thailand (EXIM) will work together to review the conditions of loans given to Myanmar. There will also be discussions on the modification of the telecom tax during the premiership of ousted former premier Thaksin Shinawatra.

Evaluation of the effects and total damage caused to EXIM by the former PM will be completed by this week, according to Deputy Finance Minister, Prutichai Damrongrat.

Finance Minister, Korn Chatikavanij, has appointed units under the ministry to expedite the transfer of the seized money of Mr Thaksin to the treasury, collection of unpaid tax and investigations into other damages caused to government units.

The deputy minister added that preliminary investigations confirmed Myanmar was very cooperative in its debt payment.

The ministry will also review the past collection of excise tax since the court ruled that the former premier’s conversion of concession payments to excise tax had benefited his then Advance Info Service (AIS) company.

The Supreme Court ruled on 26 February to confiscate 46 billion THB worth of assets of Mr Thaksin on the grounds of modifying legislation to benefit his telecom business.