Bangkok Governor urges executives to prepare 2018 budget transparently and accept court order on BTS debt, stresses using budget carefully and most cost-effectively Mr. Chadchart Sittipunt, Governor of Bangkok, chaired the 8th meeting of the heads of departments of Bangkok in 2024, with Ms. Wanthanee Wattana, Permanent Secretary of Bangkok, executives of Bangkok, executives of offices and district offices attending the meeting. The Bangkok governor revealed after the meeting that today he emphasized the budget ordinance which passed the first reading yesterday that within the next 2 weeks, he must provide clear information to the committee, including the budget amendment. It is normal that there may be some points that the committee may consider cutting out and amending necessary projects instead in order to keep the budget at 90 billion baht. He asked everyone to prepare information and reasons for the necessity. He also emphasized transparency, making the TOR carefully and in accordance with the regulatio ns, and emphasizing the policies that will be pushed forward in the 3rd year. Regarding the issue of BTS debt payment, the Bangkok governor accepted the court order and will expedite the general meeting to find a conclusion between Bangkok Thanakom Company Limited (KT) and Bangkok and will analyze the court's decision in detail. There are some points that are issues from the court. We must study the details carefully according to the court's decision and find a way to implement it. The Bangkok governor further explained that the offense was the suspension of debt payments from the extensions 1 and 2 around 2021. The debts were consolidated to renew the contract according to Section 44, which led to the suspension of payments. Later, Section 44 was not approved by the Cabinet, so Bangkok waited for the Cabinet's order. At first, BTS accepted the non-payment, but in 2021, BTS sued Bangkok. According to the court's ruling, Bangkok did not have to wait for the Cabinet's order, and it had to pay according to its existing liabilities, including interest, which increased Bangkok's burden and pressure. It is the cost of the first extension of 2 billion baht and the second extension of 6 billion baht, totaling 8 billion baht. However, the fare collected is 2 billion baht, so the budget must be used to pay the difference in the operation of 6 billion baht. For the budget that Bangkok receives 90 billion baht per year, when deducting the debt of 6 billion baht, the total debt of almost 40 billion baht will be the burden of Bangkokians. It is expected to take about 140 days and the entire operation will be completed within 180 days as ordered by the court. Bangkok will try to use the budget to the greatest benefit and value because the money used is the people's money. We will find a long-term solution to the problem to see if there is a way to help ease this burden. How will the extension of the Joint Venture Act, which will expire in 2029, proceed? It is emphasized that Bangkok itself will have to carefully consider the c ourt order because some of the information may not be current. Source: Thai News Agency