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Thai Bizmen Seek Financial Relief
- By The Financial District
- Jul 14, 2021
- 2 min read
Thailand's business operators are calling for financial relief measures, including a debt moratorium and new loans with relaxed conditions, to help small and medium enterprises cope with COVID-19, according to Bangkok Post.
The request was made ahead of Monday's meeting of the government's economic team called by Prime Minister Prayut Chan-o-cha.
Members of the team are expected to consider an economic relief package for businesses affected by the partial COVID-19 lockdown and curfew imposed for at least 14 days starting today.
Expected to be included is financial compensation for people and businesses who stand to lose income during this period. Some businesses have complained they are being asked to shut down temporarily when relief is not yet at hand.
The Thai Chamber of Commerce (TCC) asked the government to consider relaxing lending regulations so financial institutions can examine other factors, not only credit information from the National Credit Bureau, when considering a loan application, said Sanan Angubolkul, chairman of the TCC.
Mr. Sanan was speaking after a virtual meeting with Supattanapong Punmeechaow, Deputy Prime Minister and Energy Minister, and the Finance Ministry, the Office of the National Economic and Social Development Council, the Bank of Thailand, and the Office of the SMEs Promotion.
Aside from better access to financial resources, these business operators also need additional financial measures, including a debt moratorium, to help ease the burden of repaying current debts, said Mr. Sanan. He was citing opinions compiled from previous discussions with entrepreneurs, financial institutions, and the Securities and Exchange Commission.
As for the government's current stimulus measures, the TCC basically agrees with the idea of injecting money into the economic system, he said. However, some adjustments to these measures may be needed to improve their efficiency.
In phase 3 of the Khon La Khrueng ("Half-Half") co-payment scheme, the government should double the maximum subsidy to 6,000 baht per person, from 3,000 baht now.
