Tuesday, February 27, 2024

National anti-graft watchdog raises reservations over governments digital wallet scheme

The NACC has not approved the government’s digital wallet scheme, expressing concerns about corruption, fiscal discipline, and legal risks, and advising caution and targeting only the poor for assistance. Total cost estimated at 500 billion baht.

NACC Concerns about the Government’s “Digital Wallet” Scheme

The National Anti-Corruption Commission (NACC) has not yet approved or rejected the government’s “digital wallet” scheme, expressing concerns about potential constitutional violations, fiscal discipline breaching, and corruption risks. NACC Secretary-General Niwatchai Kasemmongkol stated that a panel has been formed to study the scheme and gather input from various stakeholders.

NACC Recommendations for the Government

The NACC raised concerns about potential policy corruption, fiscal integrity breaches, and legal risks associated with the “digital wallet” scheme. It advised the government to proceed with caution, ensure transparency, checks and balances, fiscal integrity, and flexibility, given the estimated 500 billion baht expenditure and potential long-term burden on the exchequer and the people. The NACC suggested that if the government aims to assist the public, it should consider targeting only the financially disadvantaged through normal budgetary means, rather than through a loan.

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