11 July 2024

The government has plans B and C prepared, in case it cannot borrow 172.3 billion baht needed to fund the digital wallet scheme from the Bank of Agriculture and Agricultural Cooperatives (BACC), Deputy Finance Minister Paopoom Rojanasakul told the media today.

He admitted that the Finance Ministry has not yet sought a ruling from the Council of State as to whether the granting the loan by the BAAC goes against the objectives of the bank, because the ministry is yet to compile all the relevant details about the scheme for sending to the Council of State.

He said that the controversial scheme is, however, proceeding in accordance with the timeline, adding that the digital wallet subcommittee will meet this Wednesday to sum up all the relevant conditions.

They will be forwarded on July 24 to the committee, chaired by the prime minister, before they go to the cabinet on July 30, after which the Council of State will be consulted.

Paopoom said that the third quarter timeline for registration to claim the 10,000 baht cash benefit under the scheme remains unchanged and the Thai people will receive their payments in the fourth quarter, but he declined to give the exact date.

Photo : Deputy Finance Minister Paopoom Rojanasakul