Govt earmarks Bt2 billion for state-backed pawn shops

By THE NATION

 

 

A Cabinet meeting has approved the Social Development and Human Security Ministry’s proposal to provide soft loans to state-backed pawn shops totalling Bt2 billion, Minister Juti Krairiksh said on Sunday (May 24).

 

“We proposed that the Government Savings Bank provide the loans at an ultra low interest rate to pawn shops to enable them to serve increasing customers in this Covid-19 situation,” he said. “The Finance Ministry will act as the guarantor for these loans to speed up the process and allow people access to this money as soon as possible.”

 

Juti said the programme is in line with Prime Minister General Prayut Chan-o-cha’s policy to have state-backed pawn shops provide services to people in the present situation at the lowest interest rate possible.

 

“Under this programme, the ministry’s pawn shops will offer the lowest interest rate among all pawn shops in the country,” he added.

 

Source: https://www.nationthailand.com/news/30388432

 

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I just do not understand why they think putting money into a pawn shop enterprise like they have done will help the economy.  Al it is doing unfortunately, if this economy does not get up and running, is kicking the can down the road.  Those that take a pawn loan will most likely forfeit their items put up as collateral.  Why not infuse money into the country with programs to assist instead of trying to widen the chasm between the rich and poor.  Maybe it is because this government really wants to keep those people down and underneath their big thumb or big toe.  Unfortunately after a lifetime of being oppressed the people are ready to usurp the usurpers....

Another big corruption scheme you got to love this Thai leaders it never ends, they now want to get into the pawn shop business making it look like they are doing the poor a favor " low interest rate "

I don,t know what,s going on, the last one I went into said they didn,t have any prawns !

More watches for...........?????

There is a dark side to this gesture.

That will be 1000s of legit pawn shops with no income and on the iffy 5000bt scheme then ????

22 hours ago, webfact said:

Govt earmarks Bt2 billion for state-backed pawn shops

And 2 billion is coming from where?

1 hour ago, hotchilli said:

And 2 billion is coming from where?

Probably a loan from the Masters In China, but where they get the money from is also an issue.....Of course maybe Chan Choo Choo, has found the pants he stashed the money in and is feeling generous in making a few baht interest

6 hours ago, Thongsaeng said:

There is a dark side to this gesture.

We hold your family silver for a while and you give us %%%%%?

So they are taking advantage of the poor.  They take the most desperate goods-people they are supposed to be helping.  What a joke.