Julapan dispels rumours, says digital wallet scheme, loan status unaltered

Julapun said on Monday that reports circulating about the cancellation of a 500-billion-baht loan through a bill enactment and the proposed reduction to 300 billion baht were just rumours.

“It’s not true. The government will continue to enact a bill to finance the scheme,” Julapun clarified.

He added that the full committee on the digital wallet scheme would convene later in the week to review the scheme’s progress. This will be after the Council of State has submitted its opinion to the Finance Ministry regarding the government’s plan to enact a bill for a 500-billion-baht loan to finance the scheme.

Earlier reports indicated that Julapun’s subcommittee on the digital wallet scheme might propose to the full committee, chaired by Prime Minister-cum-Finance Minister Srettha Thavisin, to reduce the budget from 500 billion baht to 300 billion baht.

There were also reports suggesting that the subcommittee might propose funding the scheme from the fiscal 2025 budget rather than through borrowing.

Julapun dismissed such reports, saying that they were not leaked from his subcommittee.

The unconfirmed rumours about the scheme’s downsizing and cancellation of the borrowing plan surfaced after the Council of State confirmed it had advised the government to strictly adhere to the State Fiscal and Financial Disciplines Act of 2018. The council emphasised that the act mandated the government to assess whether the scheme was an urgent matter requiring a budget that could not be allocated through a regular budget bill. It also highlighted the need for an economic and social evaluation of the proposed scheme.