Srettha bypasses digital wallet critics

Prime Minister Serta Thawisin said on Monday that the government will go ahead with its 10,000-baht digital currency plan despite mounting criticism.

Mr Serta, who also serves as finance minister, brushed aside criticism of a lack of transparency, particularly about how it would be financed.

“I insist that this policy will continue. We are working on the exact details about the source of funding for this plan and how it will be used. [the handout system]. Details are expected after the subcommittee meeting [steering the scheme]Mr. Serta said.

Earlier on Monday, Deputy Finance Minister Julapon Amornoiwat said the government must proceed carefully with the planned scheme to avoid any legal disputes. He also admitted that the government has not yet found a way to finance the project.

However, he insisted the plan would still be launched on February 1 next year as planned, despite the details subcommittee having yet to schedule its next meeting. From the disagreement on how to finance this plan.

Mr Julapon said there are many major factors that could delay the handout.

“We need to make sure that this system is secure when it’s launched. Protecting the privacy of personal data is also important. In addition, compliance with the law cannot be ignored.

“I spoke to the Prime Minister in the morning and he did not give any specific instructions. And it is not yet clear when the next meeting of the sub-committee will be held,” said Mr Julapon.

He also claimed that the government will take extra care to ensure that the scheme and its budget are in accordance with the law and refused to request a loan from the State Savings Bank (GSB).

He went on to say that once the sub-committee finalizes the details, especially the source of funding, it will refer the matter to the main committee on digital wallet policy.

Former Senator Rosanna Tositrakol has asked the Election Commission to investigate the legality of this policy and the way of financing Phew Tai.

If the government needs to borrow to implement it, the European Commission should consider whether the budget is legal or not, Ms. Rosanna said. He said there was no economic crisis that could justify such aid.

Sirikanya Tansakun, an MP from the Opposition Movement Forward Party-list, wrote on Facebook that the State Savings Bank Act does not allow the GSB to lend money to the government to finance projects or schemes.

He wrote: “Article 7 of the law foresees certain objectives for the bank’s activity, but nowhere in the clause is it mentioned that the government is allowed to borrow from the bank.