By Thai Newsroom Reporters
THE PHEU THAI-LED GOVERNMENT’S all-out campaign against illicit, informal money lending will by no means result in any waiver of debt but will foster compromise and negotiations between loan sharks and those who currently owe them, according to Deputy Prime Minister-cum-Interior Minister Anutin Charnvirakul.
Anutin pointed out today (Dec.1) that no debt, albeit being illegal, is going to be written off but to be settled in whole by way of compromise and negotiations between the loan shark and the indebted people with the authorities acting as mediators.
The interior minister called on all loan sharks who may have charged an incredibly high interest rate for their loans to agree to lower it to a fair level so the people could completely repay their debt.
The interior minister assured that nobody will be arrested or faced with criminal charges only because they are a loan shark on condition that they show up and negotiate a debt settlement agreement with the debtee.
In the meantime, the authorities will see to it that no debtor will be intimidated or physically harmed by the loan shark anymore, Anutin said.
Chief district officers and police superintendents in all provinces will conduct field surveys to find anyone who may have been indebted to loan sharks but still tried to keep it a secret from the authorities, he said.
The Ministry of Interior’s Damrong Tham Centre in the provinces opens for those in debt to register themselves and be assisted in debt settlement efforts, besides the ministry’s webpage constantly open for them to do so, he said.
Prime Minister Srettha Thavisin has earlier remarked that an undisclosed number of people nationwide are currently owing a combined sum of no less than 50 billion baht to loan sharks.
The prime minister has earlier suggested that interest rates for those illicit, informal loans account for a maximum of 15% per year and that those who may already have paid an amount of money in excess of their debt’s principal completely stop paying anymore.
Srettha is scheduled to officially kick off the government’s anti-loan sharks campaign on Dec.8.
CAPTION:
Deputy Prime Minister-cum-Interior Minister Anutin Charnvirakul talking to reporters. Top photo: Thai Rath, Front Page photo: Matichon
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