By Thai Newsroom Reporters
THE PHEU THAI-INITIATED populist handout campaign, known as the 10,000-baht digital wallet project, today (Apr. 23) secured solid support from all coalition partners.
In a press conference at Government House, Prime Minister Srettha Thavisin confirmed all coalition partners, namely the Bhumjaithai, Palang Pracharath, Ruam Thai Sang Chart, Prachachart and Chart Thai Pattana, have lent their unfaltering support for the Pheu Thai handout campaign, scheduled to begin in the fourth quarter of this year.
Nevertheless, the cabinet today resolved to have the Council of State determine as to whether a sum of 172.3 billion baht could be legally provided from the Bank for Agriculture & Agricultural Cooperatives for the delayed digital wallet project calculated to need a total of 500 billion baht in funding.
The Pheu Thai-led government plans to use 175 billion baht in budget for the current fiscal year plus another 152.7 billion baht for the next fiscal year in addition to the sought-after 172.3 billion baht complementary fund from the BAAC.
However, the BAAC portion of the 500 billion baht fund for the digital wallet project will only be provided for some 17 million farmers in all parts of the country in accordance with the existing regulations for the use of the state-run bank’s liquidity, according to Deputy Finance Minister Julapun Amornvivate.
He confirmed the BAAC will not run short of liquidity if the state-run bank provides the sought-after fund for the digital wallet project for which the registration among an estimated 50 million recipients is scheduled to open in the third quarter of this year.
The government which is already owing the BAAC some 600 billion baht in debt plans to repay the latest batch of borrowed money by yearly instalment in a few years’ time.
Under the vote-wooing handout project pledged last year as a flagship Pheu Thai electoral campaign, each Thai national aged 16 years or over may buy a maximum of 10,000 baht of goods at stores, restaurants and food shops via their digital wallet in the boundaries of their home district within a six-month period between the upcoming October and March.
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Top and Front Page: Prime Minister Srettha Thavisin talking to reporters today, Apr. 23, 2024. Photos: Thai Rath
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