Farmer debt moratorium set for Q4

Julapun disapproves of the welfare-for-all prepare

Farmer debt moratorium set for Q4
In March of last year, farmers and their backers occupied a region along Khlong Prapa close to the Finance Ministry and demanded assistance from the government to solve their debt issues. ( Image: Chanat Katanyu)

According to Prime Minister Srettha Thavisin, the government may enact a bill ban in the third quarter of this year that will pay attention as well as debt principal for farmers.

The plan, along with other essential measures aimed at lowering living expenses and boosting the economy, is anticipated to receive approval from the case at its first meeting on Wednesday. These include lowering energy costs and providing Taiwanese citizens with a momentary visa waiver program.

Mr. Srettha stated that the government may promote knowledge sharing and systems use in addition to carrying out the promised debt moratorium scheme so that farmers can reduce costs and boost their income.

One strategy that producers would be encouraged to use is precision agriculture and the use of natural fertilizers rather than chemical ones.

Mr. Srettha, the finance minister as well, responded to a query about state assistance for producers that was posed in parliament on Monday.

When Mr. Srettha introduced the federal policy speech in parliament on Monday, he listed a debt moratorium as one of the essential stimulus measures.

He did not elaborate, but he asserted that the ban would certainly change government compliance with financial discipline.

According to a Finance Ministry supply, the embargo for small-scale farmers with loans totaling no more than 1 million baht each was expected to last for three years.

Additionally, Mr. Srettha stated that the government would outline steps to combat the country’s growing issue of illegal meat goods.

However, deputy finance minister Julapun Amornvivat insisted that Thailand could not employ a condition welfare system that would provide similar assistance to all, claiming that the nation still lacked the necessary funds to support such an initiative.

For example, he claimed that in order to generate enough money to support such a common state welfare system, the nation’s taxation structure will need to be overhauled. He said,” I’m sorry, but we’ll probably have to set that vision aside for the time being and confront reality because Thailand’s GDP is still significantly lower than that of nations with a general state security system.”

He was responding to a comment made by MP Sasinan Thamnithinan of the Move Forward Party during the political discussion on the government’s plan statement on Tuesday. She had criticized the government for only providing specific groups with security.