Saturday, July 20, 2024

Govt has Plan B if it fails to borrow from BAAC to fund digital wallet Paopoom

Government prepared with plans B and C if unable to borrow 172.3 billion baht for digital wallet scheme. Finance Ministry has not yet sought ruling from Council of State. Scheme proceeding as planned.

The Government’s Backup Plans

Deputy Finance Minister Paopoom Rojanasakul revealed that the government has prepared plans B and C in case it is unable to secure the necessary 172.3 billion baht from the Bank of Agriculture and Agricultural Cooperatives for the digital wallet scheme.

He mentioned that the Finance Ministry has not yet sought a ruling from the Council of State regarding the loan because they are still gathering all relevant details of the scheme for submission. Despite the controversy, the scheme is progressing as scheduled, with a meeting planned for this Wednesday to review all conditions.

Timeline for the Digital Wallet Scheme

Paopoom mentioned that the registration for the 10,000 baht cash benefit under the scheme in the third quarter remains on track. The payments are expected to be dispersed to the Thai people in the fourth quarter, although the exact date was not disclosed. The subcommittee will present the relevant conditions on July 24 to the committee chaired by the prime minister, followed by submission to the cabinet on July 30 and consultation with the Council of State.

Photo : Deputy Finance Minister Paopoom Rojanasakul

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