The Cabinet has given the green light for the Bangkok Mass Transit Authority (BMTA) to take out a loan of 7.516 billion baht in order to improve its liquidity
Deputy Government Spokesperson Traisuree Taisaranakul said the Ministry of Finance will serve as the guarantor and will determine the conditions and details for the loan.
According to the Ministry of Transport, the BMTA has been facing financial liquidity issues due to operational losses and lack of compensation. The state-owned bus operator has been collecting fares that are lower than actual operating costs.
The BMTA is now faced with an outstanding debt of 132.56 billion baht, and is currently revising its recovery plan.
The authority says this new loan will help it save on interest payments by as much as 180 million baht, or from 220 million baht down to just 40 million baht. (NNT)
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