Bangkok, Household debt drags down the industrial confidence index. Proposing that the government hasten to freeze diesel and cooking gas prices. Reduce the burden of oil costs Pointing out that the lack of Italian-Thai liquidity reflects the bubble problem. Emphasize that the next electricity bill should not exceed 4 baht/unit. Mr. Issares Rattanadilok Na Phuket, Vice President of the Federation of Thai Industries (F.T.I.), revealed the results of the industrial confidence index survey in February 2024 at a level of 90.0, slightly decreased from 90.6 in the month. January 2024, when considering the components of the index It was found that overall sales Overall Order Production volume and operating results Decreased from January There is a negative factor from the slowdown in domestic demand. Due to concerns about the cost of living and household debt problems As a result, people are cautious about spending. Exports continued to slow down. This is because the economic conditions of trading partners are sti ll weak. especially China and Japan coupled with conflicts in the Red Sea area is still protracted, affecting Thai imports and exports, especially the European and Middle Eastern markets. In addition, entrepreneurs also face the problem of increased market competition. Including being affected by cheap, substandard products from abroad. As a result, product sales of Thai entrepreneurs decreased. Meanwhile, the cost of energy prices has increased. However, there are still positive factors from the tourism sector that continues to recover. and the results of the Visa Free exemption measure for tourists from China, Kazakhstan, India and Taiwan. Including the Easy E-Receipt measure to help stimulate domestic spending (during the period 1 January - 15 February 2024) and the measure to hold the price of diesel fuel not more than 30 baht per liter from 1 January 2024 to 31 March 2024, resulting in Good for the business sector From a survey of 1,316 entrepreneurs covering 46 industry groups of the Federation of Tha i Industries (F.T.I.) in February 2024, it was found that factors that entrepreneurs are increasingly concerned about include the global economy (85.1 percent), loan interest rates. 74.3 percent, oil price 53.7 percent, domestic economy 48.5 percent, respectively. Factors that are of less concern include the exchange rate. (Exporter's perspective) The reference exchange rate is the baht against the US dollar at 38.0 percent and the political situation in the country at 31.2 percent, respectively. Meanwhile, the index is forecast for the next 3 months to be at 100.0, increasing from 98.4 in January 2024, with supporting factors from government tourism promotion measures. Helps stimulate spending and consumption in the country. while government spending that will increase in the second quarter of 2024 after the Budget Expenditure Act Fiscal year 2024 has been approved. However, there are still factors that need to be monitored, including increased uncertainty in the world economy from the slowdown of the Chine se economy. and geopolitical risks This may affect the export sector. Meanwhile, the drought situation from the El Niño phenomenon may affect industries that use raw materials in agriculture and the amount of water in the industrial sector. therefore proposed to the government sector 1. Issue additional economic stimulus measures. To stimulate spending and consumption in the country Especially measures to promote tourism. 2. Renew measures to reduce the burden of fuel costs. That will end on March 31, 2024, is to freeze the price of diesel fuel at no more than 30 baht per liter and freeze the price of cooking gas at 423 baht per 15-kilogram tank. 3. Support SME entrepreneurs to have more access to government procurement. to increase the proportion Procurement of SMEs is not less than 50 percent of the procurement budget. especially in local government agencies 4. Have the MPC reduce policy interest rates urgently. Thailand should use interest rates that meet the needs of the Thai economy. Mr. Isaret also mentioned the case of Italian-Thai Development Public Company Limited or ITD, which has a problem of lack of financial liquidity, that it reflects the problems of the construction industry. Part of this is due to the delay in disbursing the state budget. 'Italian-Thai problem Of course, this comes from the problem of delayed budget disbursement. At present, the real estate sector has problems. Therefore, there will be fewer people investing additionally, which Italian-Thai Company It reflects the bubble problem. As the Credit Bureau has said, prepare to seize houses, seize cars, sending these signals. Why doesn't the MPC easily understand something? I already saw that It's really a problem. Why wait for how many consecutive months of negative inflation? How much more must the debt problem increase? Today, SMEs are tired, and products from neighboring countries are entering the market. In addition, we are worried about many workers who may lose their jobs,' Mr. Isaret said. As for the price of diesel fuel Fi nding that the government sector will not renew the price fixing measures It will affect overall costs, including transportation, agriculture, people's living costs, inflation, and affect competitiveness. He sees that this period is not the right time to float diesel prices. At this time, world energy prices are in a downward trend. Therefore, energy prices in the country should not increase. Ready to propose that the government reduce reliance on imported energy from fossil fuels. By promoting the use of diesel (B7) more to reduce imports As for the three approaches to electricity prices that the Energy Regulatory Commission has opened to listen to opinions, they consider that they are all wrong. Opening up to listen to opinions about electricity costs is useless. It's just a protocol. Because it does not answer the question, what F.T.I. has proposed is that the electricity price should not exceed 4 baht per unit because the current price of LNG on the world market has decreased from the first installment b y 40%, that is, from 14 baht per million BTU to 9 baht. Coins per million BTU Why does the government have to pay off debt? EGAT is a factor in determining electricity prices in the country. Ready to propose pushing for solar freedom for the public sector Increase the electricity buyback rate to more than 2 baht per unit to incentivize households. The business sector installs more solar roofs. Source: Thai News Agency