Finance Ministry seeks to extend ‘Eat, Spend, Shop’ scheme to next year

By THE NATION

 

 

The Finance Ministry will ask the Cabinet tomorrow to extend the phase 3 deadline of the “Eat, Spend, Shop” scheme to January 31 next year from the original December 31 deadline to stimulate both spending and the economy during the New Year period, Finance Minister Uttama Savanayana said on Monday (November 11).

 

“In phase 3, the scheme will not give away cash of Bt1,000 as in the first two phases,” he said. “Instead, we will stimulate e-money spending in the 2nd wallet via the Pao Tang app that users have to top up themselves and spend to receive cash-back rewards. For a spending of less than Bt30,000, users will be eligible to receive 15 per cent cash back, while the portion exceeding Bt30,000 will be rewarded with 20 per cent cash back.”

 

It is expected that phase 3 will have around 2 million participants, he added.

 

“The Finance Ministry and Krungthai Bank will seek partnerships with more retailers and hotels to register for phase 3 of the scheme to further stimulate 2nd wallet spending, which now stands at Bt700 million, while 1st wallet spending [which has giveaway cash of Bt1,000] stands at Bt13 billion,” Uttama said.

 

Source: https://www.nationthailand.com/news/30378238

 

-- © Copyright The Nation Thailand 2019-11-11

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Little wonder there are so many podgsters about in the LOS these days.

Stuck in a rut?

Please don't extend eat, spend, shop it is chaos in Tesco Lotus Seacon Square with queues a 100 persons long at the check outs.

"Chim, Shop, Chai"

I'm in debt, feel I'm gonna die

I'm so stretched, the end is nigh

Let's "Chim, Shop, Chai"

 

 

14 hours ago, snoop1130 said:

The Finance Ministry will ask the Cabinet tomorrow to extend the phase 3 deadline of the “Eat, Spend, Shop” scheme to January 31 next year

There is serious social inequality in Thailand and the government is excited to continue to highlight it rather than treat it in a sustainable and equitable manner that doesn't visibly single out a needy portion of society.

 

Central bank of Thailand version of helicopter money????

15 hours ago, snoop1130 said:

Finance Ministry seeks to extend ‘Eat, Spend, Shop’ scheme to next year

Milking everything to the last drop.... 

Unless there is another free 1k they can use to stock up with food just over the border, then most will not be interested !

Collecting information on the public-probably using Chinese monitoring tech