Deputy Prime Minister Somkid Jatusripitak has suggested the government’s 1,000-baht cash giveaway and 15% cash rebate scheme be extended until the end of the year to boost consumers’ consumption and year-end tourism.
Mr Somkid said on Monday the scheme, if extended, will help stimulate tourism in the country during the final quarter, typically the high season. This will help offset a slowdown in foreign tourist arrivals, especially from China.
“The Finance Ministry should study the possibility of increasing the budget and duration of the scheme,” he said.
“The ministry needs to determine what kind of budget would be needed to subsidise the scheme.”
The cash handout and cash rebate are part of the government’s 316-billion-baht stimulus package, which aims to boost economic growth to at least 3% this year after the economy posted 2.3% growth year-on-year in the second quarter and 2.8% in the first.
To be eligible for the cash handout and the 15% cash rebate of up to 30,000 baht for tourism-related spending, Thais aged 18 and older are required to sign up at the specified website and download the Pao Tang mobile app from Krungthai Bank (KTB).
The rebate will be paid out by the government later.
Registrants will receive an SMS to confirm their privileges within three business days.
The scheme’s registration, which is open from Sept 23 to Nov 15 or until the 10-million-recipient quota is full, is limited to 1 million registrations a day.
The cash handout needs to be spent using the Pao Tang app at participating shops in specified provinces within two weeks, while the 15% rebate can be spent in any province.
Neither perk can be used in the recipients’ home province. Recipients must spend from Sept 27 to Nov 30 to avail either perk.
Recipients are required to spend the 1,000 baht through KTB’s Pao Tang app within 14 days of receiving the SMS to avoid losing the privilege.
Any cancelled money will be reallocated to wait-listed registrants.