Industry leader warns new government to think long term but welcomes fortnightly salary payouts

[webfact]

This week, Federation of Thai Industries (FTI) Chairman, Kriengkrai Thiennukul, welcomed the government’s decision to pay salaries on a fortnightly basis from January 1st, 2024, but warned that medium and long-term plans to boost the economy were required while Move Forward Sirikanya Tansakul (inset left) said the priority must be to cut debt repayment obligations. Ms Sirikanya said every worker was entitled to a minimum of 30% from their monthly pay towards ongoing expenses.

 

A court in 2019 ruled that teachers should get at least 30% of their salary paid to them for living expenses. This was the call from Move Forward this week even as it welcomed a cabinet move to pay civil servants on a fortnightly basis. Economic Team Head Sirikanya Tansakul said that the priority for the government should be relief for civil servants from crippling debt obligations.

A top industry leader has come out to welcome a decision by the Thai cabinet this week to split monthly salary payments for civil servants into a fortnightly payday. Kriengkrai Thiennukul of the Federation of Thai Industries (FTI) suggested that the move to speed up payments of government salaries together with the controversial ฿10,000 Digital Wallet payment from February 1st 2024 to all Thai citizens over 16 years of age may give a boost to the economy early next year.

 

However, he warned the government that it is thinking too much in the short term and not enough about the kingdom’s medium and long-term economic prospects while Move Forward’s Finance spokesperson Sirikanya Tansakul also welcomed the plan but urged the government instead, to prioritise cutting debt repayment obligations faced by civil servants, from teachers to policemen, as a key priority. Ms Sirikanya highlighted tackling household debt as the country’s most pressing issue.

 

The Thai cabinet this week agreed to implement a scheme to split government salary payments to civil servants, teachers and members of the armed forces, into two payments. This will come into effect on the 1st of January 2024 and will see government employees paid earlier in the middle of January and the end of the month.

 

by Joseph O' Connor

 

Full story: Thai Examiner 2023-09-23

 

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[retarius]

Usual government distractions, digital wallets, free money, semi-monthly pay, where is the economic plan that will provide today's children with decent jobs in the economy of the future?

It's nowhere to be seen is it? Because governments cannot think strategically. A few dodgy tactics for the to win power, then noses in the trough until next election. Pathetic. 

Edited September 23, 2023 by retarius

[Adumbration]

10 minutes ago, retarius said:

Usual government distractions, digital wallets, free money, semi-monthly pay, where is the economic plan that will provide today's children with decent jobs in the economy of the future?

It's nowhere to be seen is it? Because governments cannot think strategically. A few dodgy tactics for the to win power, then noses in the trough until next election. Pathetic. 

The economic plan has always been to provide ZERO opportunity for decent jobs in Thailand.  The bulk of working age Thais then have to seek employment as little ghosts in Taiwan, Korea, Dubai, Israel, et al.

 

Then they tax the incoming remittances from these workers when they send money home to support their families.

 

ZERO effort or expenditure by the corrupt, inept and morally bankrupt government and maximum passive income stream.

 

Swill for the trough has to come from somewhere.

[hotchilli]

3 hours ago, retarius said:

where is the economic plan that will provide today's children with decent jobs in the economy of the future?

There isn't one.

This is zig-zagging like all broke Thais do every month.

[Srikcir]

5 hours ago, retarius said:

Usual government distractions, digital wallets, free money, semi-monthly pay, where is the economic plan that will provide today's children with decent jobs in the economy of the future?

It's nowhere to be seen is it? Because governments cannot think strategically. A few dodgy tactics for the to win power, then noses in the trough until next election. Pathetic. 

And

"It (the Board of Investment) said that though the employment situation has improved after the pandemic, the Thai labour market is suffering a mismatch in terms of qualifications. The report cited figures from the Board of Investment (BOI), which showed that demand for university graduates had dropped in 2022 compared to 2018."

Aug 27, 2566 BE

https://www.nationthailand.com

 

[kingstonkid]

On 9/23/2023 at 10:02 AM, retarius said:

Usual government distractions, digital wallets, free money, semi-monthly pay, where is the economic plan that will provide today's children with decent jobs in the economy of the future?

It's nowhere to be seen is it? Because governments cannot think strategically. A few dodgy tactics for the to win power, then noses in the trough until next election. Pathetic. 

Can anyone tell me when the PT had a long-term economic plan?  But then again, they are usually not in power long enough to affect one.  Usually, they do the damage to the economy and get the boot.  People don't have time to see what happens, and the media does not cover the back blast and damage due to Art 112 and Thai defamation laws.

 

Even the teens I teach agree they don't want the money. They would rather see it given to their grandparents in the form of a better pension..  

 

As to the biweekly I have to laugh GF came home all upset that the world was coming to an end.  Thought she had been laid off by the hospital.  Then I found out she was upset because the PT was screwing her and taking her money by paying her twice a month. LOL

 

Now, if they can only get the banks to calculate mortgages on the same system it would be great.

[arithai12]

Just to be clear, the article states that the 2-weeks salary payouts has been proposed by PT and welcomed by MFP, so please bash both if you must.

 

The issue of personal debt runs very deep, and doesn't start with this gov't or the previous or or or. Thais who get a job with a guaranteed salary are usually subject to a lot of pressure to show off with friends and family by buying the most expensive things they can (not) afford, eg new car, house, phone, of course on installments. They also are expected to provide contributions to parents and extended family. In short, they start indebted from day one. This is a problem of mentality, not of long term gov't plans. The 30% requirement by MFP is honorable but in practice will achieve no improvements if the mentality does not change.