6 June 2024

The Council of State did not give a green light to the government to proceed with the loan bill to borrow 500 billion baht to fund its digital wallet scheme, but offered its legal observations which, if strictly followed, will avoid problems with the loan bill, said Pakorn Nilpraphan, secretary-general of the council, today.

He explained that the council’s legal observations will have to be considered by the digital wallet committee. Then the Finance Ministry will have to explain whether the country’s economy is in crisis or not, to justify the issuance of a loan bill.

Pakorn said that the government can choose to issue a bill or an executive decree, adding that the council’s observations are just a legal opinion and not an approval for the government to go ahead with the loan bill.

As the government’s legal advisor, he said that the council is not qualified say whether the country’s economy is in crisis or not.

Deputy Finance Minister Julapun Amornvivat claimed yesterday the Council of State says the government can proceed with promulgating a loan bill to borrow Bt500 billion to fund the digital wallet scheme.

He said the Council ruled that the cabinet and the digital wallet policy committee are authorised to implement the digital wallet scheme through such a bill.

Read more : Council of State sanctions Bt500 billion loan bill to fund ‘Digital Wallet’ with three conditions