23 May 2024

Opposition Pheu Thai Party is gearing up to grill the Government in parliament over three executive decrees, which authorize the administration to secure 1.9 trillion baht in loans to cushion the economic and social impacts of COVID-19.

Pheu Thai Party’s chief strategist, Khunying Sudarat Keyuraphan, held a tele-conference today with core members of the strategic committee, namely Pokin Polakul, Wattana Muangsook, Noppadol Patthama, Chaikasem Nitisiri, Kittirat Na Ranong, Pongthem Thepkanchana, Worawat Uah-apinyakul and Suchart Thadathamrogwech and others.

In her address, Khunying Sudarat said that the Government’s lockdown measures, which include the imposition of a state of emergency and curfew, as well as the closure of several business and leisure activities, were disproportionate when compared with the health threat posed by the pathogen, resulting in the devastation of the country’s economy and the loss of 7-10 million jobs.

She went on to say that the 5,000 baht/month cash subsidies, for those affected, did not reach all those that need it and that access to the scheme is complicated, resulting in many more people missing out.

Sudarat claimed that the executive decree to help SMEs, and another decree for economic rehabilitation, will not help save the national economy.  She suggested that the Government should increase the purchasing power of the people in order to stimulate local consumption, which would fuel the economic engine.

Despite the 500 billion baht credit line, to be made available to SMEs by the Bank of Thailand, she noted that there are no clear details on how financially strapped SMEs can access the fund.

On top of that, she said that there are still many unemployed who are not covered by any safety net and who have, so far, not received any help from the government.