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Government tackles power bills, diesel prices, and farmer and SME debt

Electric bills in Thailand
Electric bills in Thailand

Power bills down. Diesel prices down, a bit. And a 3 year moratorium on farmer and small business debt. The new government has been quick to make some immediate changes to the hip pockets of Thais and people living in Thailand.

In this week’s cabinet meeting led by PM and Finance Minister Srettha Thavisin, several significant changes were introduced. These changes, aimed at improving the lives of the Thai people, include reductions in electricity and diesel prices, the establishment of a National Soft Power Strategy Committee, a debt moratorium for farmers and small businesses, and a new salary payment system for civil servants.

Starting in this month’s bill cycle, electricity prices will see a reduction from 4.45 baht per unit down to 4.1 baht per unit. Additionally, diesel prices will dip below 30 baht per litre, effective from September 20. The previous government was subsidising diesel prices for the past year or so to minimise the impact of world inflation. The new government appears to be continuing this subsidy.

To boost income and create more opportunities for the citizens, a National Soft Power Strategy Committee has been formed, aligning with the administration’s campaign promises. This will encourage social media and individuals to promote the not-so-obvious cultural, culinary and arts of Thailand to a wider world, beyond the hard tourist marketing from the TAT.

Furthermore, a  3year debt moratorium has also been put in place to assist farmers and small businesses in the country.

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