Yala: The Minister of Justice has proposed to the Cabinet the issuance of a 15 billion baht soft loan aimed at aiding the southern border provinces. Representatives from the business sector, the Federation of Thai Industries, and the Chamber of Commerce expressed their support and encouraged overcoming challenges to assist the local population.
According to Thai News Agency, Pol. Col. Thawee Sodsong, Minister of Justice and leader of the Prachachat Party, delivered a lecture on financial transparency and law enforcement at a seminar focused on consumer protection in the southern border provinces. The event was hosted by the Consumer Protection Committee of the House of Representatives at the Parkview Hotel in Yala Province. Notable attendees included Mr. Abdul-Aye Samang, Deputy Leader of the Prachachat Party, and other representatives from Yala and Pattani Provinces.
Pol. Col. Thawee emphasized the impact of past unrest on local businesses and investments, advocating for government intervention to ensure the continuity of entrepreneurial activities. He announced that Prime Minister Ms. Paethongtarn Shinawatra's government plans to submit a proposal to extend the Southern Soft Loan Project, initially set to conclude in June, with a renewed focus on providing financial aid to Yala, Pattani, Narathiwat, and parts of Songkhla Province.
The reporter highlighted proposals aimed at enhancing fairness for debtors within the soft loan project, addressing limitations that hinder business rehabilitation. Suggestions included allowing the use of loans to repay existing debts under specific conditions, thereby alleviating financial burdens and promoting debt restructuring.
Moreover, the proposal includes enforcing debt repayment sequences as per Bank of Thailand guidelines, ensuring that financial institutions participating in the project follow 'horizontal debt repayment' norms. This aims to reduce the principal debt efficiently and prevent prolonged debt re-payment periods without significant debt reduction.
The anticipated outcomes of these suggestions include boosting the grassroots economy, alleviating accumulated interest burdens, and enhancing fairness within the credit system and government initiatives.
The reporter further noted that Mr. Sompong Simapatanapong, advisor to the Yala Provincial Industrial Council, led a delegation to support Pol. Col. Thawee Sodsong. The Minister of Justice is scheduled to engage with local residents in Yala Province before returning to Bangkok.