By The Nation
Danucha Pichayanan, deputy secretary-general of the National Economic and Social Development Council (NESDC), said the Cabinet has agreed to earmark Bt45 billion for this scheme, in which the government will provide a 50-per-cent subsidy for products purchased from participating retailers and street vendors from October to December. However, the subsidy is capped at Bt3,000 per consumer.
The scheme aims to provide subsidies to 15 million consumers aged 18 and above and expects at least 80,000 retailers and street vendors to participate. Retailers of alcoholic beverages and cigarettes will not be eligible.
Danucha said payments for purchases must be made via Krungthai Bank’s online wallet Pao Tang. The government will cover 50 per cent of the money spent on purchases, but initially consumers are allowed to spend no more than Bt100 to Bt250 daily of their Bt3,000 credit.
Shoppers will only pay 50 per cent for products, while participating stores will receive the rest of the money the following day.
NESDC believes this package will inject Bt9 billion in the economy and stimulate the GDP by 0.25 per cent.
The Finance Ministry is preparing a detailed proposal for the government’s Centre for Economic Situation Administration so the scheme can kick off in October.