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Govt to help tackle unorganised debts: Korn



Govt to help tackle unorganised debts: Korn

Finance Minister Korn Chatikavanij

Finance Minister Korn Chatikavanij said on Monday that he is discussing measures to help those who owe money to unorganised lenders, by having the Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives extend refinancing loans.

 The idea is from the discussion with the Fiscal Policy Office.

 "The Interior Ministry earlier enlisted the poor and submitted the list of some to the Finance Ministry. Some 5 million have been assisted and the combined debts of Bt6 billion have been tackled. However, the figures need to be revised, as they were collected during 2005-2006. I'm not sure how updated they could be. The previous government's measures would be reviewed for update. By the end of this year, we should be successful in finding some new measures to handle the unorganised debts," he said.

 The Finance Ministry is also under the process to implement the law to ensure fair debt claims. Though the Bank of Thailand's regulations put credit card business in control, a specific law should make the matter fairer, Korn said.

 He added that once macro-economic problems are addressed, the ministry will plan new measures to help grass-roots people particularly on unorganised debts.

The Thai Rak Thai Party in 2005 initiated the programme to enlist the poor who need the government's help in clearing their debts.



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