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Thai lawmakers pass 2 controversial water management decrees
Last Updated(Beijing Time):2012-03-02 10:40

Thai House of Representatives on Thursday passed two controversial executive decrees regarding water management proposed by the government as part of flood prevention plan after the two-day meeting.

Convened on Feb. 29, the meeting endorsed the two financial executive decrees by votes of 276-114 for debt transfer with 119 abstainers and 281-1 for water management projects with 15 abstainers.

One of the decrees is to enable the Finance Ministry to transfer the full responsibility for the 1.14 trillion baht (37 billion U.S. dollars) of bailout debt from the 1997 financial crisis to the Bank of Thailand's Financial Institutions Development Fund (FIDF).

The other is intended to allow the government to seek 350 billion baht (11.4 billion U.S. dollars) in loans for water management projects and flood rehabilitation work.

Yingluck Shinawatra government plans to seek loans for the water management purpose to prevent flooding in the short and long terms by issuing four executive decrees.

However, the opposition Democrat Party and a group of senators earlier petitioned the court, asking it to rule on the constitutionality of the two decrees by reasoning that there was no justification for the issuance of the decrees instead of going through the parliament consideration.

The Constitution Court on Feb. 22 ruled that both decrees were constitutional.

Source:Xinhua 
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