Businesses asked to freeze prices

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Businesses asked to freeze prices

Published: 16 Jan 2013 at 19.50
Online news: Local News

BANGKOK - The Ministry of Commerce Minister on Wednesday ordered the Department of Internal Trade to ask manufacturers to maintain their current product prices for at least three more months.

Watcharee Wimuktayon, permanent secretary for commerce, said the department had been directed to conduct a survey on product prices and determine which manufacturers can cope with the government's 300 baht daily minimum wage, which was enforced nationwide on Jan 1.

She said they will be urged not to raise their prices for three more months, as recommended by the cabinet resolution.

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boons
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Discussion 17 : 17 Jan 2013 at 18.0617
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Businesses are preparing to leave Thailand in droves to any one of Thailand's neighbors where cheaper labor can be found. The coming spike in unemployment is going to stun this government, (Bangkok Bank is actually *advising* businesses to leave -- think about that for a moment.) Given the level of economic illiteracy at work in this government I think we can safely predict that the next set of "solutions" will involve "making it easier to get loans". And then folks, the path of Greece and Spain will be locked in.
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spiceman
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Discussion 16 : 17 Jan 2013 at 09.0016
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This is the biggest joke of all. What's about the totally economic-illiterated Govt delaying the implementation of their idiotic Wage Hike indefinitely? Still remember what Kittirat said "Wage Hike is good for businesses?" This must be what he meant!
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g.manont
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Discussion 15 : 17 Jan 2013 at 06.4115
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D.14.

They did. You lost a few labor.

Next thing you know, your VAT will go up.

I hope I'm wrong.

.
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Chas66
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Discussion 14 : 17 Jan 2013 at 00.4314
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A government survey will "determine" which manufacturers can cope with the minimum daily wage of 300 baht? What? Perhaps these manufacturers should just pack up and move somewhere they can operate without this kind of interference. Pity the Thai people who have to live with this.
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prhn
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Discussion 13 : 17 Jan 2013 at 00.3313
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I may be wrong BUT if costs go up then prices must go up.

The only exception would be that if you were overcharging in the first place you might be able to absorb the cost increases. In a competitive environment that is highly unlikely.

Rice scheme revisited?
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oldexp
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Discussion 12 : 16 Jan 2013 at 23.4512
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Their understanding of free market is the same as their understanding of democracy.
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g.manont
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Discussion 11 : 16 Jan 2013 at 23.2611
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D.4. Those inter-company have their mfg.in ASEAN country already.

Meaning the couldn't face labor cost long ago.

Three months pass, the price will be raised anyway.

A solid lesson, use your brain on your next election.

.
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bonzo
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Discussion 10 : 16 Jan 2013 at 23.0910
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Oh, goody! A centralized, government-controlled, command economy. Should we sing The Internationale now, or should we sing it later?
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cinbkk
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Discussion 9 : 16 Jan 2013 at 22.399
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Signs of desperation. Reminds me of King Canute standing on the beach and ordering the tide not to come in. We all know what happened there.
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Renaissance
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Discussion 8 : 16 Jan 2013 at 22.028
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I think the message here is that the Cabinet knows that its populist policy is a mistake and is causing its voters hardship. So it wants all the cruel, awful, nasty businesses to save them by freezing their prices and taking the fall for their mistake. In 3 months time, as other posters have stated, people will have forgotten the cause of the price rises, i.e. the populist policy, and then the Cabinet can blame price rises on another factor that has nothing to do with the government. Maybe they will even find a way to pin the blame on Aphisit.
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Businesses asked to freeze prices | Bangkok Post: news