The Commerce Ministry is set to team up with more than 300 manufacturers, wholesalers and retailers as well as convenience stores to organise a large-scale promotional event, reducing the prices of goods and services as a New Year's gift to the public.
According to Wattanasak Sur-iam, director-general of the Internal Trade Department, the discount campaign aligns with government policies to ease the cost of living for Thais.
The event continues an earlier project that commenced on Oct 2 this year and is scheduled to end on Dec 31.
The new discount campaign is expected to run from Dec 15 until Jan 15, 2024, with the details likely to be announced soon, he said.
As part of the government's "Quick Win" policy to reduce expenses, increase income and expand business opportunities, the Commerce Ministry in October partnered with 288 business operators to reduce the prices of their goods and services covering 151,676 items nationwide for three months through Dec 31.
The prices of more than 150,000 products and services were cut by as much as 87% under the scheme, which was estimated to help reduce the cost of living by 2-3 billion baht.
The policy has helped to stimulate spending and drive the economy, said Mr Wattanasak.
"The new price reduction programme will be one of the largest events, encompassing products from all categories including food and beverages, essential goods, agricultural products as well as services, reducing the cost of living for people," he said.
In a related development, Mr Wattanasak said the department monitored the prices of 18 product categories and found they remained stable. The various products comprised instant noodles, fresh food, canned food, packed rice, seasoning sauces, vegetable oil, soft drinks, dairy products, electrical appliances, animal feed, cement, medicine and medical appliances.
The prices of some items declined, in line with promotional campaigns offered by shopping complexes and retail shops, he said.