Parliamentary debate on Thai government's Bt2t borrowing set on March 28-29

BANGKOK, March 26 (TNA) - A parliamentary debate on the Thai government's 2-trillion-baht borrowing plan to fund new mega-infrastructure development projects has been set on March 28-29, 2013. Thailand's opposition chief whip Jurin Laksanavisit told reporters on Tuesday that 60 opposition MPs will debate the government's borrowing plan. Jurin said that the opposition camp does not oppose the infrastructure development projects the borrowing will fund, but pointing out that Thailand's public debt will create the combined repayment burden of 5 trillion baht to Thai people, comprising its principal and interest, and that the repayment will be the burden of taxpayers for as long as 50 years. Senator Somchai Sawaengkan cautioned, meanwhile, at a Senate session, that the interest burden from the 2-trillion-baht borrowing is huge and there has not been any detail of an infrastructure project from the government. The senator also gave a comment that the 50-year-long indebtedness could make the Thai government's planned infrastructure development infeasible and it would not be unnecessary for the government to implement all the planned infrastructure projects at once. Deputy Prime Minister Chalerm Yubamrung insisted, however, that Deputy Prime Minister and Finance Minister Kittirat Na-Ranong and Transport Minister Chadchat Sittipunt will explain the Thai government's borrowing and the new mega-infrastructure projects and he believed that the Parliament would eventually approve the official borrowing plan. (TNA)