Bangkok City Hall halves market rents, cuts pawn shop interest rates
The Bangkok Metropolitan Administration (BMA) has decided to halve the rental fees charged to vendors who rent space in its 12 markets from July to the end of September, according to Governor Chadchart Sittipunt.
The 12 markets, run or owned by the BMA, are Chatuchak, Min Buri, Pracha Niwet, Thevaraj, Bang Kapi, Nong Chok, Wongwian Lek, Ratchadapisek, Singha, Bang Khae Phirom and Rat Burana.
The BMA has also decided to reduce the interest rate charged by the 21 city-run pawn shops, also for three months.
The interest rates will be:
- 0.1% per month for the principal amount of not more than 5,000 baht
- 0.5% per month for 5,000 baht up to 15,000 baht
- 0.75% per month for amounts exceeding 15,000 baht
Moreover, the city administration has agreed to extend the expiry period of pawn shop tickets, from four months and ten days to six months and 30 days, for property pawned between July 1st and the end of September.
Although this financial help to vendors and members of the public may not be much, Governor Chadchart said it will help ease their burden in wake of the rising cost of living.