By Thai Newsroom Reporters
PEOPLE ARE STRONGLY advised to never literally cash in on their digital wallet, albeit in return for a reduced sum of money, otherwise legal action will definitely be taken against them.
Deputy Finance Minister Julapun Amornvivat today (Aug. 1) suggested all eligible recipients to the Pheu Thai-initiated populist handout campaign to never be tempted to turn their 10,000-baht digital wallet into cash for whatever reason or else they will be finally faced with legal action.
Given the fact that transactions via all digital wallets provided for Thai nationals aged 16 years or over nationwide will be automatically recorded and examinable, such illegal practices on the part of conniving recipients can be constantly tracked by the authorities and punishable by law, Julapun commented but stopped short of saying how harsh legal penalties could possibly be for such wrongdoers.
The deputy finance minister apparently made his comments amidst speculation that some people would probably be tempted to cash in on their digital wallet with anyone else who would most certainly deduct 10% or more out of the total 10,000 baht, given the circumstances under which they may have invariably intended to buy categories of merchandise or services unprovided for under the populist handout campaign.
That refers to electricity and water bills, cellphones, electric appliances, electronic goods, cigarettes, alcoholic beverages, marijuana, kratom leaves, spa and massage, beauty treatments, car wash, gift vouchers, lottery tickets and jewellery items, among others.
Meanwhile, an estimated 10 million people have registered via Stateway App for the 10,000-baht digital wallet today whilst many others are following suit until the deadline day scheduled for Sep. 15.
The digital wallet through which the recipient is entitled to purchase a maximum of 10,000 baht in market price of grocery items, foods and non-alcoholic drinks in their home district will be available for use within the fourth quarter of this year, beginning in Oct.
Julapun has earlier forecast that not as many as 50 million Thai nationals throughout the country would eventually join the Pheu Thai-initiated handout campaign and that a maximum of 90% of the eligible people would do so, thus obliging the Pheu Thai-led government to earmark a sum of 450 billion baht in funding for it. That comprises a sum of 165 billion baht in the government budget for the current fiscal year and the other 285 billion baht for the next fiscal year.
Prime Minister Srettha Thavisin has earlier said the digital wallet project will definitely stimulate domestic consumption, strengthen the local economy, create jobs in the provinces, promote manufacturing industries and finally boost the country’s GDP.
CAPTIONS:
Top: Some banknotes and a smartphone. Photo by Benjamin Dada on Unsplash
Front Page: A man making digital payment. Photo by CardMapr.nl on Unsplash
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