The government has returned land and assets worth 3.25 billion baht pledged as collateral to borrowers in the Northeast as efforts continue to ease the plight of debtors who have fallen victim to loan sharks.
At a ceremony in Kalasin, Deputy Prime Minister Prawit Wongsuwon, who also serves as defence minister, handed 1,407 title deeds covering more than 5,100 rai to residents in eight northeastern provinces. Also present were Deputy Defence Minister Gen Chaichan Changmongkol and national police chief Pol Gen Chakthip Chaijinda.
Defence Ministry spokesman Kongcheep Tantravanich said this was the third time the government had returned assets to informal debtors who had fallen victim to loan sharks.
In the latest attempt to help people fight debt, authorities helped 1,333 people settle their debts with moneylenders and freed about 5,100 rai of land and assets worth 3.249 billion baht pledged as collateral, Lt Gen Khongcheep said.
Gen Prawit said the government was stepping up its efforts to help debtors.
''The government is trying to create opportunities and social equality and it will not let low-income earners face the problem alone,'' the deputy prime minister said.
Similar ceremonies were also organised nationwide on Thursday.
In Bangkok, Metropolitan Police Bureau chief Pol Lt Gen Chantape Sesavej returned a land title deed, one car, 31 motorcycles and five bank passbooks to 38 debtors Thursday.
In total, the assets returned were worth more than 2 million baht.
Efforts were also being made to help 50 debtors to negotiate debt settlements with their lenders, Pol Lt Gen Chantape said.
In the southern province of Nakhon Si Thammarat, the provincial police handed land title deeds to 27 debtors, and motorcycles and vehicles to 195 people.
The government has assigned Gen Prawit to oversee an operation to crack down on loan sharks who charge higher interest rates than the law allows and help debtors negotiate with lenders for debt settlement.
Loan sharks are a major problem in Thailand, especially in the Northeast and the South.
Apart from charging high-interest rates, these loan sharks also make profits from seizing property which borrowers place as collateral.
Residents in these regions prefer to deal with loan sharks instead of commercial banks because of accessibility.