The future of Thailand’s THB700 billion high-speed rail project is in jeopardy after Thailand’s Constitutional Court ruled this afternoon the borrowing bill passed by the Senate was unconstitutional.
The decision invalidates the bill which was approved by lawmakers in November.
The content of the bill and how it was enacted were in violation of the national charter, according to Chaowana Traimas, Constitutional Court secretary.
The bill authorized the Finance Ministry to borrow up to THB2 trillion to finance the construction of railways, electric trains, sea ports, highways and the rail project.
Prime Minister Phongthep Thepkanjana earlier said such a ruling could have led to the government’s resignation.
“But, as House has already been dissolved and we’re a caretaker government, we don’t need to do anything to accept responsibility,” Phongthep said
The huge loan bill, already passed by the Senate, gives the Finance Ministry the power to borrow up to Bt2 trillion to finance the infrastructure projects such as double-track railways, mass-transit electric trains, sea ports, motorways and high-speed trains, The Nation reported.
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