Relief programme for workers hit by business closures

[snoop1130]

Relief programme for workers hit by business closures

By THE NATION

 

Deputy Prime Minister Somkid Jatusripitak

 

Deputy Prime Minister Somkid Jatusripitak announced on Tuesday (March 24) that the government has approved financial assistance for those who have become unemployed or affected by closures of business venues where they worked as the Covid-19 pandemic continues.

 

His announcement came after Prime Minister General Prayut Chan-o-cha declared a state of emergency to curb spread of the virus on the same day.

 

“Those who are not insured under the Social Security system will each be given a Bt5,000 cash handout for three months,” said Somkid, adding that “This includes temporary workers, freelancers and self-employed people. The government estimated that up to 3 million people under this category were affected by the preventive measures”.

 

As for those registered under the social security scheme, they will be entitled to 50 per cent of monthly pay for 180 days if their employers closed the businesses, or 90 days in the event of the government ordering the business to suspend operation.

 

“Furthermore, the government will provide Bt40 billion in loans to affected workers at a maximum of Bt10,000 per person,” added Somkid. “These loans, carrying an interest rate of 0.1 per cent per month, require no collateral".

 

If the first batch of loans failed to meet demand, the government will add another Bt20 billion into the programme, but at a higher loan rate of 0.35 per cent per month.

 

To further alleviate people’s financial burden, state-owned pawn shops have received a total budget of Bt2 billion to provide loans at a low interest rate of 0.125 per cent per month.

 

Source: https://www.nationthailand.com/news/30384750

 

-- © Copyright The Nation Thailand 2020-03-24

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[Mavideol]

and that's some good news, hope they will follow up with the financial assistance and not only words

[jimmiejackson]

6 minutes ago, snoop1130 said:

As for those registered under the social security scheme, they will be entitled to 50 per cent of monthly pay for 180 days if their employers closed the businesses, or 90 days in the event of the government ordering the business to suspend operation.

From what our staff has been told by the SSF, there is a salary cap 15,000 Baht per month, meaning max payout is 7,500 Baht per month.

[kimamey]

5 minutes ago, jimmiejackson said:

From what our staff has been told by the SSF, there is a salary cap 15,000 Baht per month, meaning max payout is 7,500 Baht per month.

Doesn't seem much but at least it's a start. 

[Mavideol]

12 minutes ago, snoop1130 said:

each be given a Bt5,000 cash handout for three months,”

all the ones that went back home also eligible? how they are going to select the eligible ones VS not eligible, what a heck of a job

[Deli]

12 hours ago, jimmiejackson said:

From what our staff has been told by the SSF, there is a salary cap 15,000 Baht per month, meaning max payout is 7,500 Baht per month.

I understood the max payout is 15 k, independently from that, what you had before. Not sure what is correct

[Grumpy John]

50% of what you salary is for 3 months.  I am thinking later in the year the repo agents will be flat out like a lizard drinking as will the places like Mannheim and Union. ????

[brain150]

I would like to know where they take all the money from ? And who is going to pay it back ?

 

Also, how fast will they break the whole Social Security System with their Helicopter money ???

[Mavideol]

18 hours ago, Mavideol said:

and that's some good news, hope they will follow up with the financial assistance and not only words

@brain150 can you please explain what's sad about my post, is there something wrong with you

[jimmiejackson]

5 hours ago, Deli said:

I understood the max payout is 15 k, independently from that, what you had before. Not sure what is correct

I hope that is correct although I also don't have any specific confirmation. Our HR had to register our business with the SSF as one "affected" my mandated closedowns yesterday, and now our staff are able to apply for their compensation which is being dealt with today. I haven't been told any differently that the limit is 7,500 Baht but I live in hope, 15,000 Baht still isn't anywhere near 50% for most of my staff but it's definitely better than nothing. 7,500 Baht on the other hand really won't do much for them at all unfortunately.

[AhFarangJa]

I wonder if my Wife qualifies as she has had to close her bar for at least one month, probably more. Yes, she does pay tax.....

[Letseng]

On 3/24/2020 at 12:17 PM, jimmiejackson said:

From what our staff has been told by the SSF, there is a salary cap 15,000 Baht per month, meaning max payout is 7,500 Baht per month.

A lot better than nothing at all.