Handout to create ‘economic whirlwind’

The Pheu Thai-led coalition government has vowed to proceed with the second and third phases of its economic stimulus handout scheme after the official launch of the first phase yesterday.
“The payment system for the second and third phases is being developed. The Finance Ministry will provide details later,” said Prime Minister Paetongtarn Shinawatra during an event to mark the programme’s start at Government House on Wednesday.
“Today, cash will be in the hands of Thais. A cash injection of more than 145 billion baht will create a major economic whirlwind,” said Ms Paetongtarn, daughter of former premier Thaksin Shinawatra.
“The 10,000-baht handout will create new opportunities for people. Each family member who receives the payment can pool their money to boost their business.”
Ms Paetongtarn also said the government will go ahead with the digital wallet programme to revitalise the economy and lay the foundation for a digital economy that will facilitate transactions and ensure more transparency.
“The government believes the recipients will make the most of the payment. More measures will be rolled out to stimulate the economy,” she said.
The first phase prioritises the distribution of funds to 12.4 million state welfare cardholders and 2.1 million disability cardholders via PromptPay, linked to their national ID numbers.
However, only about 3.1 million welfare cardholders and disabled people — out of a total of 14.5 million — received their 10,000-baht handout yesterday due to limitations of the PromptPay payment system, Deputy Prime Minister and Finance Minister Pichai Chunhavajira said.
More than 11 million state welfare cardholders have linked PromptPay to their ID numbers, leaving over 1 million in this cohort yet to be linked to the payment system.
Payments to disabled individuals are through the current system where they receive monthly state assistance. State welfare cardholders have been urged to link their national ID numbers to PromptPay by the end of the year to receive the 10,000-baht handout.