B12bn cost is” untrue ,” and the bank will grow
PUBLISHED: 18 October 2023 at 4:00 p.m.
Monday, Prime Minister Srettha Thavisin dispelled rumors that Sansiri Plc, a major real estate developer, would be working with an internet to create new software that the government would use in the upcoming rollout of its 10,000-baht digital currency handout program.
The cost of creating the new e-wallet application, Super App, was allegedly as high as 12 billion baht, which Mr. Srettha refuted as being misleading.
The app didn’t be developed by Sansiri, XSpring Capital Plc, or the app’s affiliates, and the cost of doing so will not be as high as the rumored 12 billion baht that has been circulated in the internet, according to the PM, who is a former senior employee of the company.
Mr. Srettha also vowed to be transparent, saying the council in charge of the project’s implementation would later provide an explanation to allay any concerns.
When questioned, Deputy Finance Minister Julapun Amornvivat declined to give an estimate of his own despite rumors that the government was considering spending up to 12 billion ringgit on the creation of the new game.
According to some, the new app’s creator is not a private firm that was hired to do the work; rather, he claims that the government has jurisdiction over the commercial bank.
However, when asked which state-run bank may actually be the one developing the app, he merely replied that all of the states-controlled banks may discuss among themselves who will accept the position.
Monday is expected to see a determination, he said.
He also endorsed a fresh initiative to petition the National Anti-Corruption Commission ( NACC ) to investigate the government’s intended course of action for the scheme.
According to Mr. Julapun,” it is their right to request an investigation into the plan, and any scrutiny is simply support ensure transparency.”
He promised to present the NACC with an explanation of the task in person.
Mr. Julapun said the new software is required to enhance data security and make it compatible with the bitcoin technology that will be used in the project in response to inquiries about why the government didn’t use the current Paotang application for its digital cash project.
Additionally, he refuted rumors that participating businesses in the system would be charged 3 % to convert their online currency into cash.