The Finance Ministry will open for applications for licences permitting pico-finance business from December 1.
Spokesman Krisda Chinavicharana, who is also director-general for the Fiscal Policy Office, which will oversee and supervise pico-finance business, said juristic persons could submit applications for licences at the ministry’s head office in Bangkok or at Government Savings Bank and Bank for Agriculture and Agricultural Cooperatives branches nationwide.
Pico-finance allows operators to collect interest on small loans at no more than 36 per cent per annum.
The licensing of such operators is aimed at providing an additional means for the poor to gain access to capital, while protecting them from and helping to solve the underground-debt problem.

TREASURY, PROPERTY PERFECT INK
TRAT SEZ DEVELOPMENT CONTRACT

The Treasury Department of the Finance Ministry signed a long-lease contract with Property Perfect yesterday for the listed company to develop land in the Trat Special Economic Zone (SEZ) under the “Golden Gateway” concept, aiming to make the zone a gateway for tourism, food safety and trade in the region.
The investment cost of the project is Bt3 billion, excluding the leasing fee.
“We will also speed up the process to open bids in other special economic zones, such as in Tak, Nong Khai, Si Sa Kaeo and Mukdahan,” said the Treasury Department’s director-general, Chakkrit Parapantakul.

GRASS-ROOTS SENTIMENT RISES
SHARPLY IN THIRD QUARTER

The Grass-roots Economic Sentiment Index (GSI) rose to 49 points in the third quarter from 44.1 in the previous three months, reflecting more confidence in the economic, social and political situations and the expectation of more state spending on economic stimulus and public investment, according to the Grass-roots Economic Research Centre.
Chatchai Payuhanaveechai, president of the Government Savings Bank, which runs the centre, also said the six-month index had increased to 51.8 points for the first time this year, from 45.9 in the second quarter, on expectations of the government focusing on spending for investment and stimulus in the final three months.
The third-quarter GSI survey was conducted nationwide among 1,526 people who earn no more than Bt15,000 a month.
These grass-roots people spend mainly on food and beverages, residential expenses (mortgage instalments or rent), electricity and water, and travel.
The centre expects people’s consumption to stage a gradual recovery in the first quarter of next year on the back of government spending and investment, provided that global economic uncertainties ease and the government’s spending and investment proceeds efficiently and consistently.