Bangkok: The Permanent Secretary of the Ministry of Finance admitted that the details of the 200 billion baht loan projects are still lacking until proposals are submitted. He insisted that each project must meet strict criteria and declared that the directive came from Deputy Prime Minister Ekniti.
According to Thai News Agency, Mr. Lawaron Saengsanit, Permanent Secretary of the Ministry of Finance and Chairman of the Loan Utilization Screening Committee, explained to the House of Representatives that the committee's working methods were designed to alleviate members' concerns and provide greater peace of mind, particularly regarding the 200 billion baht projects, which some had criticized as lacking detail, not meeting requirements, and being unnecessary. He clarified that the screening process wasn't solely handled by the committee itself. Recognizing the necessity and benefit of thorough consideration, a subcommittee comprising a wider range of experts was established to conduct an initial screening before submissions to the main committee. He affirmed that the committee's consideration process was thorough and transparent.
The Permanent Secretary further stated that the members' comments regarding the lack of project details were untrue, as the projects had not yet been submitted. Once the projects are submitted, all details will be complete and published on the Public Debt Management Office website, where they can be checked. He believes that many agencies are currently revising their intended projects to comply with various criteria, which the sub-committees or committees will use for consideration and will be more detailed than those stipulated in the Emergency Decree.
Mr. Laworn further stated that the projects must be urgent but have not received sufficient budget allocation, or must meet the criteria of being ready for immediate implementation after approval and must be completed by September 30, 2027. The projects must be cost-effective, generating economic benefits as defined in the Emergency Decree, and must take into account efficiency, effectiveness, and the needs of the people and communities. Importantly, they must promote and support the competitiveness of Thai entrepreneurs.
Mr. Laworn stated that there may be many projects proposed by relevant government agencies, but emphasized that not all projects need to be approved. Every project submitted will undergo rigorous screening by a screening committee based on strict criteria. After the initial screening, he reiterated that this Emergency Decree emphasizes transparency. Furthermore, there will be another independent evaluation committee, chaired by a qualified external expert. Therefore, he believes the evaluation will be professional and accurate, demonstrating cost-effectiveness, efficiency, and compliance with the Ministry of Finance's regulations on project evaluation for the use of this loan funds.
The Permanent Secretary further stated that, assuming the emergency decree on borrowing is passed today, it would cut off the connection with Parliament because the decree requires the Ministry of Finance to report the borrowing to Parliament, specifying the details of the borrowing, the purpose of the borrowed money, as well as the achievements and benefits received or expected to be received, within 60 days after the end of the fiscal year.
'Many members have expressed concerns about the independence of this committee. They used the term 'political directive.' To be honest, the only political directive I received was from Deputy Prime Minister Ekniti, instructing the committee to work transparently and that every project approved demonstrates the true value for money. I reiterate that every project approved must align with the spirit of the Emergency Decree and truly address the need for energy transition,' Mr. Laworn said.
Mr. Laworn further stated that the real outcome we want to see from the projects that have been vetted by the committee is that, should a future energy crisis occur, we will see two things happen: 1. Thailand will be better prepared to handle the situation, and 2. The impact on the public will be significantly reduced.