10,000-baht handout scheme not yet discussed by BAAC board

Sirikanya Tansakul, deputy leader of the Move Forward Party and a member of the special committee for the consideration of the 2025 annual budget, revealed on Sunday that although the Bank for Agriculture and Agricultural Cooperatives, which is required to allocate more than 170 billion baht for the 10,000-baht handout scheme, the BAAC has confirmed that the matter has not yet been discussed or decided by its board. 

Moreover, no further details have been submitted, indicating that the matter has not yet been forwarded for legal interpretation to determine whether it conflicts with BAAC's objectives.

Concerning the remaining liquidity, the BAAC explained that it currently has excess liquidity of 20 billion to 30 billion baht. It may require reallocating other current assets, which amount to about 200 billion to 300 billion baht, if BAAC money is used for the 10,000-baht handout scheme.

"There are concerns that in the end, it may be necessary to increase the BAAC's capital to maintain its risk profile in various funds," Sirikanya said.

Regarding the government's outstanding debt to the bank, the current total is nearly 800 billion baht. The repayment is ongoing, but the BAAC cannot confirm how much principal or interest will be paid this year, as it depends on the national budget each year.

"We have raised this issue for several budget years, stating that a clear plan should be established on the annual repayment amount so that the BAAC can manage it,” Sirikanya said. “The budget for each year should be planned from the beginning of the fiscal year rather than being allocated as and when needed. 

“Although it is a state bank, it still needs a certain level of financial stability to avoid burdening the public with additional capital increases or resolving the BAAC's bad debts."

She emphasised that the BAAC representatives have complete documentation. They are involved as creditors since all the requested budget represents debts owed by the government since 2008. They requested a total of more than 600 billion baht but received less than 60 billion.

Regarding the central-budget documents for the 10,000-baht handout scheme, it is not yet known when the meeting will be rescheduled. It is the Ministry of Finance's duty to clarify this, but there is no set date for a complete document submission. 

There are concerns about whether it will be timely, as the government plans to finalise the 10,000-baht handout scheme by the end of this year.

Sirikanya said that although the government set a clear framework, it is still uncertain when in the fourth quarter it will be implemented. It could be October, November, or December. 

“We hope and wait to see if it can be done in time, as there are still many uncertainties. It is hoped that there will be another press conference to inform the public about the registration process by the end of July, although it is still unclear when the registration will begin. 

“We are only hopeful that there will be sufficient budget and that all systems will be ready by the government’s stipulated deadline.”