Government’s digital wallet scheme delayed amid sustainability concerns

[webfact]

 

A seven-month delay is set to affect the government’s digital wallet scheme, with the expected launch now projected around September of next year, according to an adviser to the prime minister.

 

Pichai Chunhavajira, while addressing a Senate-organised forum on the scheme, voiced that the policy is a vital economic stimulant but doubted its implementation in February as initially planned.

 

The delay, according to Pichai, is due to revisions to the scope of the policy after receiving wide-range concerns, which now estimates to benefit around 40 million people.

 

The digital wallet scheme, funded by the annual budget, will likely see changes to the 4-kilometre spending limit, expanding it to cover a full district for evenly disbursing the funds.

 

Pichai also pointed out the potential use of the Pao Tang application for the scheme, considering it less time-consuming than developing a new application.

 

However, not everyone shares the same enthusiasm for the scheme. Former deputy finance minister, Pisit Lee-atham, voiced his concerns at the forum, claiming that the scheme is unsustainable.

 

by Mitch Connor

Photo courtesy of iStock

 

Full story: The Thaiger 2023-10-31

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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[bob smith]

flipius flopius.

[bamnutsak]

Rigor mortis.

 

 

[retarius]

Thank God for that. Burn the basturd idea. But put a stake through its heart first.

[mfd101]

Every new government everywhere in the world discovers the gap between promising and implementing. And some learn from the experience ...

[2baht]

They'll hold it till closer to the election then roll it out in a mass vote buying bid! Timing! 

[connda]

2 hours ago, webfact said:

However, not everyone shares the same enthusiasm for the scheme. Former deputy finance minister, Pisit Lee-atham, voiced his concerns at the forum, claiming that the scheme is unsustainable.

I hate the words "sustainable" and "unsustainable" as they are buzz words with at best vague definitions.

If Khun Pisit means that it will hammer the Thai treasury, burden the tax payers, and over-heat the economy leading to high rates of inflation that will eat multiples of the government's "gift¹" to the people and ultimately leave the population poorer and more indebted then before the scheme, then I agree that it is "unsustainable."

¹ Gift - A campaign promise to give away public funds to voters in return for their votes.  Legalized vote buying.

[WHansen]

3 hours ago, retarius said:

Thank God for that. Burn the basturd idea. But put a stake through its heart first.

I know where most penniless Thais would like to stick that stake of yours

[webfact]

Digital wallet scheme may be delayed until next September : PM’s advisor

 

Pichai Chunhavajira, an advisor to Prime Minister Srettha Thavisin.

Disbursement of the Bt10,000 digital money under the “digital wallet” scheme may be delayed until next September, said Pichai Chunhavajira, an advisor to Prime Minister Srettha Thavisin.

 

He added the “pao tang” application will be used instead of developing a new application for distribution of the money.

 

Speaking at a forum on “Various Opinions on the Digital Wallet Scheme”, held Monday by Senate committees, Pichai said that the original idea, that all Thais, aged 16 and over, regardless of their financial standing, will be eligible to receive a one-time Bt10,000 benefit, will have to be adjusted, with the likelihood that those considered to be “high-income earners” will be excluded from the scheme, because paying them would not help to stimulate the economy.

 

He also said that the idea of developing of a new application, reported to have used blockchain technology, for the distribution of the money may be scrapped because of the high cost of the development and the time it would require.

 

Full story: Thai PBS 2023-10-31

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

[Henk Langeweg]

A lot of people will still need the money then ... 

Maybe they can get  a bank loan with this 'promise' as guarantee. 

Edited October 31, 2023 by Henk Langeweg

[2baht]

Welchers!

[Shop mak]

How much money has Thailand borrowed the last 4 years?

The country can't afford neither 150 or 560 Billion Baht digital wallet.

Even tourist arrivals are up, many other sectors still suffers.

 

In the country of (Hubs) U-turns, can't they just stop talk about this. Other news sources said earlier that many Thais was against Digital Wallet. They realize the country can't afford it.

[retarius]

3 hours ago, WHansen said:

I know where most penniless Thais would like to stick that stake of yours

So do I, but that doesn't make it good economics.

[RichardColeman]

More likely they just found the military overspent the budgets

[PETERTHEEATER]

8 hours ago, bob smith said:

flipius flopius.

No Latin please. The Forum language is English. Comprende?

[PETERTHEEATER]

4 hours ago, webfact said:

Digital wallet scheme may be delayed until next September : PM’s advisor

 

Pichai Chunhavajira, an advisor to Prime Minister Srettha Thavisin.

Disbursement of the Bt10,000 digital money under the “digital wallet” scheme may be delayed until next September, said Pichai Chunhavajira, an advisor to Prime Minister Srettha Thavisin.

 

He added the “pao tang” application will be used instead of developing a new application for distribution of the money.

 

Speaking at a forum on “Various Opinions on the Digital Wallet Scheme”, held Monday by Senate committees, Pichai said that the original idea, that all Thais, aged 16 and over, regardless of their financial standing, will be eligible to receive a one-time Bt10,000 benefit, will have to be adjusted, with the likelihood that those considered to be “high-income earners” will be excluded from the scheme, because paying them would not help to stimulate the economy.

 

He also said that the idea of developing of a new application, reported to have used blockchain technology, for the distribution of the money may be scrapped because of the high cost of the development and the time it would require.

 

Full story: Thai PBS 2023-10-31

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

I don't consider a drunk singing the karaoke version of 'I did it my way' to be a reliable adviser.

[hotchilli]

8 hours ago, webfact said:

A seven-month delay is set to affect the government’s digital wallet scheme, with the expected launch now projected around September of next year,

What's 10,000 + interest?

[newnative]

Should be scrapped altogether or massively scaled down to just the neediest. 

[Cake Monster]

But, but, but !!!

This was an extremely urgent measure to kick start the Economy

In a Years time, the Economy could be well and truly down the Gurgler, along with PT and Srettha