Cabinet Approves SRT’s 17.5 Billion Baht Loan and School Milk Price Increase.

Bangkok: The Cabinet has given the green light for the State Railway of Thailand (SRT) to secure a loan amounting to 17,500 million baht. This decision aims to compensate for fares, enhance the rail system, and increase the average price of school milk by an additional 46 satang per box. According to Thai News Agency, the Ministry of Transport presented the proposal which was subsequently approved in the Cabinet meeting. The loan, guaranteed by the Ministry of Finance, is intended to alleviate the financial burden stemming from the fixed low fares, and to cover maintenance costs associated with the track system, railway sleepers, and signaling systems. Moreover, the Cabinet meeting also sanctioned an increase in the average price of "school milk" under the school supplementary food (milk) project. This approval allows for a rise in the average selling price of milk products by 46 satang per bag or box, effective from the first semester of the 2024 academic year. The new pricing structure sets the average pr ice of pasteurized school milk from 6.89 baht to 7.35 baht per bag and UHT school milk from 8.13 baht to 8.59 baht per box. The decision follows the Cabinet's prior adjustment on December 6, 65, which was driven by an increase in the average purchasing price of cow's milk by 2.25 baht per kilogram. Consequently, this adjustment raised the production cost of school milk by 0.46 baht per bag or box. Agencies responsible for purchasing school milk, including the Department of Local Administration, the Office of the Private Education Commission, Bangkok, and Pattaya City, are set to receive an additional budget of 777.44 million baht to supply school milk for 6,500,298 students over 260 days. Agencies lacking sufficient budgets will seek allocations from the annual budget for fiscal year 2024 and the central budget to address this need.