PM Prayut satisfied with response to Ban Pracharat project

BANGKOK, 25 April 2016 (NNT) - The Prime Minister is satisfied with the response to the Ban Pracharat housing project although caution is being urged concerning the risk of spurring an increase in bad loans.

Maj. Gen. Sunsern Kaewkumnerd, spokesman of the Prime Minister’s Office, said that the latest information collected between March 23 and April 18 shows 33,050 people have applied for mortgages from the Government Housing Bank and Government Savings Bank to buy houses under the Ban Pracharat project, which has been introduced to enable low-income earners to own properties.

Maj. Gen. Sunsern said that 1,628 of the applications were already approved, with most of them to receive loans from the Government Savings Bank.

He noted that the number of mortgage applications appears to be higher than the government had prepared for, but that also shows the project is meeting its objective, which is to help low-income earners in all sectors, whether public or private, to buy their own houses and to boost the country’s economy through the property business.

Prime Minister Gen. Prayut Chan-o-cha is satisfied with the response the project has received although he is also worried that some people who wish to secure a mortgage, may not have the capacity to pay back the loan.

The PM said that the government will soon assess the project in order to improve its effectiveness in helping low-income earners.


-- NNT 2016-04-25

A national scale loan program with minimal impact. Another feather in the cap for the PM.

Prayut satisfied?

33,050 people have applied and 1,628 of the applications approved or less than 5%.

Would he be satisfied if 5% of Thais agreed with his leadership?