Bt2 billion earmarked for govt pawnshop project

By The Nation

 

 

In its weekly meeting on Tuesday (May 19), the Cabinet approved the Finance Ministry’s decision to earmark a Bt2-billion budget for the government’s pawnshop project amid the Covid-19 crisis.

 

Based on the approval, the Government Savings Bank will provide a Bt2 billion soft loan to the government pawnshop, which will then extend the payment deadline on pawn tickets and reduce interest rates.

 

This proposal was first put before the Cabinet by the Social Development and Human Security Ministry on March 31, after which the Finance Ministry was told to stand as guarantor before the plan could be approved.

 

Now that the proposal has been okayed, the Office of the Government Pawnshop will have to present its financial plan to the State Enterprise Policy Office.

 

Source: https://www.nationthailand.com/news/30388138?utm_source=category&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-05-19

 

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I am really having hard time to fathom the concept of government pawnshop.

How the value of any pawned object will be determined and by whom?

Would the authority hired by the government care for fair assessment of the value?

It will become another corrupt bureaucracy. 

  

Government boys will have heaps of cheap

gold from many Thais unable to retrieve.

A virtual Thai gold mine.

Admittedly, I wasn't even aware the Thai government operated a pawn shop. In fact I haven't heard of governments ANYWHERE running pawn shops.

 

Incidentally, I have a used submarine sitting around in my back yard. Got it for cheap from the Chinese some time ago. Can I drop by tomorrow?

Reason for having a Government pawn shop is simple..... It is to allow the watchman access to expensive watches, and  allow him to borrow them until the watch owner dies.????

Amazing Thailand.

13 hours ago, talahtnut said:

Government boys will have heaps of cheap

gold from many Thais unable to retrieve.

A virtual Thai gold mine.

Take it to a gold shop not a pawn shop

As governments around the world wrestle with huge monetary assistance for their citizens the Thai answer is a pawn shop ???? 

14 hours ago, Retarded said:

I am really having hard time to fathom the concept of government pawnshop.

Simple :

Poor man's watch - 5,000 baht at the pawnshop. Collected watch later

General's and Hi-so's same watch - 500,000 baht at the pawn shop. Never collected watch

Oh, is it run by the military 

I guess they want squeeze every baht from the poor

Get ready for a major crime/burglary/theft spree

 

Now that there is a new fence in town...aka: Govt Pawn

Edited May 20, 20206 yr by meechai