News Forum - Cash-strapped BMTA gets green light for 7.5 billion baht loan

[Thaiger]

The Thai Cabinet approved a more than 7.5 billion baht loan to the debt-ridden Bangkok Mass Transit Authority. Deputy Government Spokesperson, Trisuree Trisaranakul, yesterday reported that the cash-strapped BMTA would borrow 7.516 billion baht from the next year’s budget because it lacked financial liquidity. Trisuree added that BMTA has been facing cash-flow problems due to operational losses and lack of compensation. The state-owned bus operator has been collecting fares that are lower than actual operating costs and has an outstanding debt of 132.56 billion baht. According to the report, the loan would be used to pay off 2.25 billion baht […]

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[Prosaap]

So you have operate loses and borrow money to cover that but make no change in the operation i think normal people can see how this end 

[palooka]

Hopefully all these debt ridden Govt agencies will come to the fore before the next election and show the people just how bad things are under Pnut and Co. whose only solution seems to have been  trying to entice the super rich tourists to flood Thailand, remember those,  ---- they didn't show up.

Don't think there will a big party next NYE in Phuket like the last one.  US$100,000 for entertainment.

[Fanta]

I’m pleased they got the money. They only owe about 140 billion baht and a ticket costs about 50 baht. What could possibly go wrong? 

[Marc26]

I could be wrong, but I believe most public transportation around the world is not profitable...........

 

People point to MRT in Hong Kong as the most profitable but most of that is in land projects........

[HiuMak]

10 hours ago, Marc26 said:

I could be wrong, but I believe most public transportation around the world is not profitable...........

People point to MRT in Hong Kong as the most profitable but most of that is in land projects........

They are not called public transport if their objective is to make money. Serve the public and the government should subsidize it.

[Marc26]

1 hour ago, HiuMak said:

They are not called public transport if their objective is to make money. Serve the public and the government should subsidize it.

Very good point!