The opposition has raised concerns that five state-run banks may never get back the money the government plans to take from them to partially finance the digital wallet scheme.
Sirikanya Tansakun, a list MP of the opposition People’s Party, on Tuesday said it struck her as odd that the money taken from the banks – worth a combined 35 billion baht – has not been earmarked for spending as a loan for the scheme.
The five banks are the Small and Medium Enterprise Development Bank of Thailand, the Bank for Agriculture and Agricultural Cooperatives, the Export-Import Bank of Thailand, the Government Housing Bank and the Government Savings Bank (GSB).
According to the MP, if the money is spent on the scheme without being specified for such a purpose, it could result in the funds not being paid back.
Ms Sirikanya is a member of the parliamentary committee scrutinising the expenditure budget bill, which is being adjusted as it passes through the second and third readings.
The MP noted that the budget slated to be saved for the scheme includes funds used to finance old programmes, such as crop price guarantee projects initiated during the Abhisit Vejjajiva and Prayut Chan-o-cha administrations, as well as two billion baht sliced from the GSB.
The two billion baht from the GSB are intended to help businesses that suffered adverse impacts from the Covid-19 pandemic through low-interest loans.
"We have no clue in what direction this digital wallet policy is headed and whether there will be enough money to make it happen," Ms Sirikanya said. "The question also concerns what the government plans to do if funds for the scheme fall short. It's all because there's a persistent lack of clarity on how money will be sourced to ensure it is implemented."
She said the uncertainty is being prolonged by the wait for the new cabinet to be sworn in and for the prime minister to deliver a policy statement to parliament.