BEING considered is a measure to promote exchanging old cars for new electric/hybrid cars to reduce reliance on oil with this being part of the Finance Ministry’s strategy to drive economic growth, PPTVHD36 said this evening (April 10).
Deputy Prime Minister/Finance Minister Ekniti Nitithanprapas said other steps include reducing officials’ study trips, topping up state welfare card, and subsidising fuel for essential groups.
The Finance Ministry is aiming for over 3 percent economic growth over the next four years with additional steps being supporting Public-Private Partnership (PPP) projects and the establishment of an infrastructure investment fund, or Thailand Future Fund.
Ekniti said that in the short term, the focus will be on measures to assist vulnerable groups affected by high oil prices, including adjusting the 2027 budget. Unnecessary expenses, such as study trips, will be cut and redirected to assist those affected.
At the cabinet meeting tomorrow urgent measures to assist vulnerable groups affected by high energy prices will be approved with these to be implemented in 30 days and include adding 100 baht to state welfare card, raising the allowance for low-income earners from 300 baht to 400 baht a month, assisting transport and fishing sectors by subsidising fuel cost and preventing further jumps in transport cost which would have widespread impact.
Introduction of low-interest loans for purchasing electric cars and motorcycles, installing solar panels, and fertilisers in the agricultural sector will also be tabled to the cabinet tomorrow.
Ekniti said his ministry’s “old car for new car” scheme would reduce reliance on oil. The focus is on supporting the purchase of new hybrid and electric vehicles, on condition that the vehicles are manufactured in Thailand to promote the development of the country’s automotive industry.
The government’s subsidy for this scheme will go through car manufacturers who will pass it on to their customers as a price discount.
Ekanit explained that the reason hybrid vehicles have been included in this scheme is because there are still car manufacturers in Thailand who produce vehicles that combine gasoline and electric power.
The criteria of eligibility to participate in the programme will be low carbon emission and meeting government-defined standards. The Finance Ministry is currently working on these measures for cabinet approval.
Additionally, even though the government aims to keep public debt below 70 percent GDP if it is necessary to assist affected citizens, it is prepared to exceed this ceiling.
Ekniti said he believes rating agencies would understand this change, as almost all countries currently have high levels of public debt.
CAPTION:
Top and Front Page – Deputy Prime Minister/Finance Minister Ekniti Nitithanprapas talking to the press today, April 10, 2026. Photos – PPTVHD36
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