PUBLISHED: 14 Apr 2024 at 06: 09
The government’s labor union, known as the Bank for Agriculture and Agricultural Cooperatives ( BAAC ), pleaded with the bank on Saturday to calm customer concerns over its plan to borrow 172.3 billion baht from the bank to partially finance the digital wallet handout scheme.
The coalition inquired as to whether the borrowing plan was permitted by the laws governing the BAAC’s activities. The State Enterprise Policy Office, the Bank of Thailand, and the Council of State had each requested an opinion on whether the plan was genuine.
The coalition also demanded that the BAAC make public statements and to give assurances that the organization had not yet implemented any measures related to the digital wallet scheme while gathering feedback from several organizations.
The labor union of the BAAC also made reference to its previous opposition to the bank’s decision to pay farmers who pledged their crops under the 2014 cash-strapped corn pledging plan.
Because the government was a caregiver authorities and did not have full authority, it claimed, it had the power to resist the decision at the time.
However, for the digital wallet program, the Srettha state has full power, so the coalition decided to seek clarity regarding the constitutionality of the loans plan.
According to the union, the BAAC’s involvement in the digital wallet system must be in line with the organization’s and its customers ‘ interests.
The prime minister earlier refuted reports that the company’s deposits had run out as a result of the announcement of the loans plan.
In addition, former prime minister Thaksin Shinawatra expressed trust in the administration’s 500 billion ringgit donation on Saturday while making a trip to Chiang Mai, where he is currently a resident, for the Songkran event.
He put off criticism and said the nation’s economy was still in its early stages but was still expected to recover following the deployment of digital wallets.
Because there is n’t enough money in the system, our nation’s growth is slower than that in other Asean nations. The state tries to add income to encourage it, he said. Thaksin claimed that the slow economy was caused by governmental changes that prevented the annual budget’s approval being approved sooner.
Thai Pakdee Party chief Warong Dechgitvigrom, however, said he would like to tell the BAAC managers to adhere to their rules.
He stated in a social media post on Saturday that” the money must be used to help farmers in their agricultural lives” in accordance with Area 9 of the BAAC Act. The digital wallet initiative, which allows the distribution of BAAC money, could be in violation of the law, according to Dr. Warong.