Co-payment scheme reopens on Nov 11

Co-payment scheme reopens on Nov 11

The second round of registration for the co-payment scheme is scheduled for Nov 11 as some registrants are not expected to use the subsidy within the stipulated period, says the Finance Ministry.

The government subsidy conditions stipulate spending by registrants must be made within 14 days from the first day of registration.

Some registrants are expected to not use their subsidy rights within the stipulated period, said Krisada Chinavicharana, the finance permanent secretary.

The ministry will gauge the number of registrants who have not used their subsidy rights by Nov 10 and a second round of registration will be opened the next day, said Mr Krisada.

The maximum of 10 million people registered for the co-payment scheme on Oct 29.

The co-payment scheme allows registered individuals who make purchases at small shops to pay for only half, with the government subsidising 50% of receipts.

The government pays for half of food, drink and general goods purchases of up to 150 baht per person per day, capped at 3,000 baht per person for the duration of the scheme.

Registration was launched on Oct 16. The scheme is part of the government's plan to offer 30 billion baht in cash handouts to 10 million people for purchases during the final quarter of the year, scaling back an earlier plan to give 45 billion baht to 15 million people.

The scheme started on Oct 23 and will end on Dec 31.

The objective is to stimulate consumer spending in the final quarter after sentiment was gutted by the pandemic.

As of Nov 4, accumulated spending was valued at 5.8 billion baht.

Of the amount, the sum that registered individuals spent was valued at 2.96 billion baht, while the government subsidy totalled 2.85 billion. Average spending was 229 baht per transaction.

There are more than 400,000 small stores participating in the co-payment scheme.

Do you like the content of this article?