Cabinet cuts budget for e-voucher scheme

Cabinet cuts budget for e-voucher scheme

Shoppers receive cashback at a rate of 10-15% with the 'Ying Chai Ying Dai' scheme. Pornprom Satrabhaya
Shoppers receive cashback at a rate of 10-15% with the 'Ying Chai Ying Dai' scheme. Pornprom Satrabhaya

The cabinet on Tuesday cut the spending budget for the "Ying Chai Ying Dai" (the more you spend, the more you get) e-voucher cashback scheme to 9.8 billion baht from 28 billion baht because of fewer-than-expected participants.

Meanwhile, the cabinet also raised the budget to support the relief packages for people and businesses affected by the government's latest partial Covid-19 lockdown measures implemented in Bangkok and nine other provinces classified as high-risk or dark red zones to contain the outbreak to 13.50 billion baht from 2.51 billion baht.

Such a budget excludes that to be slated to three additional provinces -- Chachoengsao, Chon Buri and Ayutthaya -- the government announced in the Royal Gazette on Sunday.

Government spokesman Anucha Burapachaisri said the government's decision to readjust the e-voucher cashback scheme also aligns with the latest lockdown measures in 13 high-risk provinces which include the order to close department stores and shopping malls.

As of July 14, only 453,864 participants registered for the scheme.

The Finance Ministry opened registration for the Ying Chai Ying Dai scheme on June 21. The government expects full participation of 4 million people.

The scheme offers the right to cashback e-vouchers for domestic purchases, encouraging people to buy food, products and services at participating shops through the Krungthai Bank Pao Tang mobile app.

Registrants can buy products or services under the scheme between 6am and 11pm from July 1 to Sept 30. The e-voucher discounts can be used from Aug 7 to Dec 31.

Participants receive vouchers in their Pao Tang e-wallets at a rate of 10-15% of spending, with a maximum limit of 7,000 baht per person.

The e-voucher caps the amount it uses to calculate the cashback received at 5,000 baht daily, regardless of the daily amount spent.

The cabinet on Tuesday agreed to raise the cashback to 10,000 baht from 5,000 baht daily and allowed registrants to buy products or services under the scheme until Nov 30 from the originally-planned Sept 30.

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