Saha Pathanapibul chairman sees no positive sign of economic recovery

The chairman of Saha Pathanapibul’s executive board Boonchai Chokwatana says purchasing power of consumers is declining with no positive sign of recovery in the fourth quarter of this year.

Boonchai, an experienced businessman, said there was no sign of positive recovery over the next quarter and also saw no stimulant measure to improve the declining purchasing power, which is key to economic recovery.

He said the situation was worsened after the government agreed to allow price increases simultaneously on many public utilities services, and goods.

Boonchai said that although the government would stress the need for price increases for the sake of its survival, but surely  would affect consumers.

But in fact, he said  the people still have money in their pockets, but the increase has spoilt their buying mood.

He cited unusual drop in number of  visitors to department stores, saying the situation over the next few months would even go worse if the government did nothing on its policies while politics remains unstable.

However the Saha Path chairman advised that the best remedy to the current economic situation was to resolve the political instability.

Whatever which was incorrect, corrected or changed it such as some problem decree, rice pledging policy and rubber price falls, he said.

Commenting on the rubber price fall, Boonchai said he would like the government to help rubber planters same as it has help to shore up rice prices for farmers and that would enable rubber planters to survive.