PT puts 'shutdown' damage at B200bn

The People's Democratic Reform Committee’s planned shutdown of Bangkok on Jan 13 could escalate the ecnomic damage caused by the protests to 200 billion baht, up from the 70 billion baht in damage already caused, a member of the Pheu Thai Party’s economic team claimed on Thursday.

Pichai Naripthaphan said the PDRC city seizure would drag the country’s accountability down to the lowest level and further reduce already-affected foreign investment, while the economy could tumble down. 

He called on Democrat Party leader Abhisit Vejjajiva to talk with PDRC secretary-general Suthep Thaugsuban, an a former Democrat MP powerebroker, and suggest that he cancel his plan to paralyse the capital, as it would cause massive damage to the country.

Mr Pichai last month claimed foreign investors in the Thai stock market had already sold off more than 200 billion baht worth of shares since the protests began. Some of them had decided to move production bases to other countries, he added.     

Share your thoughts

Discussion 1 : 05/01/2014 at 10:28 PM
Shutting down Bangkok could be interpreted as not just as a 'protest move' against the sitting Government, but as an act of 'sedition' to those with the authority and power to stop it... this is dangerous ground for the 'protesters'... they need to be careful, and cautious... grabbing a sleeping tiger's tail can be very dangerous.........
Discussion 2 : 03/01/2014 at 01:11 AM
Please do not worry about the temporary shut down, otherwise, it will cost Thailand many more times than this.
Discussion 3 : 02/01/2014 at 08:57 PM
Then back off and accept rewriting the constitution end corruption and allow the nation to move forward plus stop guessing at the figure.
Discussion 4 : 02/01/2014 at 08:55 PM
Simply PT propaganda !! Make the people believe they will loose so much money while they are being bankrupted by the rice scheme... Powder the to eyes !!
Discussion 5 : 02/01/2014 at 06:42 PM
This boycott madness is ruining the country just as much as the ill thought out PT policies.
Discussion 6 : 02/01/2014 at 06:40 PM
Funny how PT can come up with this number so fast but we have yet to hear a number loss for the rice scam.
Discussion 7 : 02/01/2014 at 06:31 PM
Since when does our government care about a couple of billions here or there? If they would care then they would have stopped the rice scam and many other useless projects long ago.
Discussion 8 : 02/01/2014 at 06:28 PM
So you think protesters should accept a corrupt government which follows the orders of a criminal fugitive just to make the tourists happy, correct?
Discussion 9 : 02/01/2014 at 06:27 PM
Until Thai politicians hold and respect their electorate above their family and friends this will go on.
Discussion 10 : 02/01/2014 at 05:52 PM
As PT estimates are always off, the damage will not be half as guessed.
Discussion 11 : 02/01/2014 at 05:45 PM
I too am a farang, but with a Thai wife & family. I understand many of the frustrations of the Thai people, but they should also remember this is not recent. It has been happening for a long time, and even Suthep had many opportunities to make change before now. People should remember Thanksin is the only politician to have been convicted for his part in corruption. My feelings is that in 2 years time, people will find they are no better then now, and I fear things will be worse. If any politician believe they have the support of the masses then let then prove it with a vote & respect the law.
Discussion 12 : 02/01/2014 at 05:38 PM
Your sentence is more than abscons. Reform is a fashion word but no one say what, who, how. Example, this year we must reform the weather, too much floods. Make a committee... Childish. The lawmaker make the reforms, you have to elect the good or change it. Mister Charlie, tell us how reform the corruption as it's already illegal? That's the job of the politics not the whistlers.
Discussion 13 : 02/01/2014 at 05:37 PM
As a business owner who relies on tourism, who do I seek money from with the lost tourist revenue who did not come to Thailand. Protest is ok but what about the flow on effect. there has to be hundreds of businessess in the same situation.
Discussion 14 : 02/01/2014 at 05:32 PM
It is quite possible that Jatuporn will save Thailand for Thaksin. Stay tuned.
Discussion 15 : 02/01/2014 at 05:27 PM
Obviously you do not iunderstand the situation! TS does not care about "good life" in Dubai... he just want to come back to take revenge et whatever costs to the country, to satisfy his overinflated ego
Discussion 16 : 02/01/2014 at 05:21 PM
That didn't seem to worry PT before.
Discussion 17 : 02/01/2014 at 05:15 PM
You know, a lot of people work very hard all year to afford a Holiday in Thailand. No one is going to want to vacation inside a political pressure cooker. This needs to be resolved as soon as possible.
Discussion 18 : 02/01/2014 at 05:10 PM
Who believes anything these crooks have to say. Even if it were true, it's only a fraction of the damage the rice scam has caused to the economy.
Discussion 19 : 02/01/2014 at 04:44 PM
As a tourist who travels to Thailand regularly I am amazed that a protest to shut down Bangkok would even be contemplated. Your economy relies heavily on tourism and employment in tourism is vital to the economy. This is nothing short of sabotage of your economy. People will stop coming to Thailand and many struggling families will suffer. Thaskin will never return the life in Dubai is too good. Stop this nonsense now. This is a view from a tourist not a local resident.
Discussion 20 : 02/01/2014 at 04:35 PM
Yinglucks stubbornness to reform damage is 200 billion baht
Discussion 21 : 02/01/2014 at 04:24 PM
Did you factor in the lost tourism dollars/euros/pounds?

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