InfoQuest, (April 23, 2020) -- After a meeting with the management of all state-owned specialized financial institutions to report on the progress of relief measures for those affected by the outbreak of COVID-19, Finance Minister Uttama Savanayana said a monthly handout of 5,000 baht to farmers must be analyzed by the Screening Committee based on the database of the Ministry of Agriculture and Cooperatives on how it should be implemented and then be submitted to the cabinet for review at a meeting on April 28, 2020.
"The handout scheme targeting farmers must first be subject to the review of the Screening Committee as it will use funds from the 1 trillion-baht emergency loan bill. It is expected to be submitted to the cabinet for review as early as next week. And only after the above procedures can the final conditions be determined. The final amount will remain unclear until the Ministry of Agriculture and Cooperatives sets the budget. In the end, the Ministry of Finance will determine to allocate how much budget funds from the loan bill," said Mr. Uttama.
He also pointed out that relief measures for farmers will be mainly based on information from the Ministry of Agriculture and Cooperatives. The work must start here as the agency has been responsible for guiding farmers to get registered. The qualification review of the cash handout scheme of 5,000 baht for the self-employed who had registered through the website—www.wedon'tleaveeachother.com started on April 23. The subsidy will last for three months and the final cash amount will be determined after the qualification review.
The finance minister stressed that the 1 trillion-baht loan was sufficient to provide relief to those affected by the outbreak, and no additional loan bill would be required. The loan bill in principle sets aside 600 billion baht for relief measures, and if it is not enough, it will be replenished by the 400 billion baht allocated to revive the economy.
As for the repayment method of the 1 trillion-baht loan, since it is not clear how much will be used or it is possible that the loan will not be used, it is not yet determined. And the Public Debt Management Office (PDMO) is working on a plan.
Source: InfoQuest, by Khara/Kasamarporn/Sasithorn, translated by Xinhua Silk Road
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
