The digital wallet scheme faces delay in its May rollout, with no new timeline given
PUBLISHED : 17 Jan 2024 at 13:08
The Pheu Thai-led government’s controversial 500-billion-baht (US$14.3-billion) “digital wallet” handout scheme, aimed at reviving a sluggish economy, cannot be rolled out in May as originally targeted, Deputy Finance Minister Julapun Amornvivat said on Wednesday.
The delay will be a setback for Prime Minister and Finance Minister Srettha Thavisin’s coalition government, which has been touting the signature handout policy as essential in boosting an economy that is lagging regional peers.
The scheme would give 10,000 baht (around $285) to 50 million Thais to spend in their local communities.
“Today, looking at the timeframe, it’s unlikely for May,” Mr Julapun said, without specifying a new timeline.
Deputy Finance Minister and Pheu Thai Party MP Julapun Amornvivat. (Photo: Chanat Katanyu)
The programme, originally slated for February and delayed to May, would have allowed Thais to receive funds via a mobile application.
The digital wallet was a key election campaign policy of the ruling Pheu Thai Party. It is core among a raft of stimulus measures that Mr Srettha’s government has promised for Southeast Asia’s second-biggest economy, including debt suspension for farmers and a minimum wage hike.
The money from the digital wallet scheme can only be used for food and consumer goods. It cannot be used to buy online goods, cigarettes or liquor, cash vouchers and valuables like diamonds, gems or gold.
It also cannot be used to pay off debts or cover water or electricity bills, fuel, natural gas or tuition fees. The money must be spent in the district where the recipient’s home is registered.
The National Anti-Corruption Commission (NACC) has recently warned the government of possible illegalities in its planned digital wallet handout.