GSB ready to help THAI, Oil Fuel Fund

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A Thai Airways International Boeing 777-300ER is parked at Suvarnabhumi Airport.

The Government Savings Bank (GSB) is ready to provide loans to Thai Airways International (THAI) and the Oil Fuel Fund to increase their liquidity if the government adopts such a policy, said GSB Chairman Prapas Kong- Ied.

He added that although the national airline is no longer a state-owned company, it is still majority state-owned.

However, the airline has yet to apply for a loan from the bank, he said.

He said THAI was considering applying for a syndicated loan of around 25 billion baht in the form of a joint loan extension by around 4-5 banks to boost its liquidity.

He added that the Oil Fuel Fund had not yet applied for a loan from the GSB. As in the case of THAI, the bank would consider lending to the fund if it was government policy.

The fund is in talks with state-owned banks for loans worth 30-40 billion baht to boost liquidity, which will allow it to subsidize the domestic price of oil.

In a separate development, Mr Prapas said the Finance Ministry’s Inquiry Committee had submitted to Finance Minister Arkhom Termpittayapaisith the outcome of its review of the transparency of the Department of Finance concession’s bidding process. Trésor to manage and operate the main water transport pipeline system in the East. .

Mr Prapas said the committee was waiting for the minister to issue an order regarding the submitted result.

In March, the Treasury Department named Vongsayam Korsang Co the winning bidder.

Later, the ministry set up a committee to investigate the transparency of the bidding process, as ordered by the prime minister.

The Pheu Thai party says it will make transparency a key issue during a censorship debate expected in July around this candidacy.

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