Government House, The Prime Minister revealed that the Cabinet approved the principle of the retirement lottery in the form of a digital lottery through online channels, with a maximum purchase per person of no more than 3,000 baht per month, receiving money in the form of a retirement pension, and approved the GSB Boost Up soft loan project, Government Savings Bank, to stimulate the economy and help small investors.
Prime Minister Settha Thavisin revealed after the cabinet meeting that the meeting approved in principle the Ministry of Finance’s proposal for a retirement savings lottery project, which is a digital lottery through online channels, with a maximum purchase of 3,000 baht per person per month. All money will be received in the form of a retirement pension. The amount of money purchased will be saved as personal savings, and all money will be returned when the person reaches the age of 60. This is because Thai society is entering an aging society, and the government has to spend a lot of money to
take care of the elderly. This project will be beneficial in promoting savings for the public, as the government creates incentives in the form of cash prizes, allowing the government to reduce the budget for caring for vulnerable groups.
The Prime Minister also said that the Cabinet meeting also approved the separation of the loan project account under the economic stimulus measures and the assistance for retail customers in the GSB Boost Up soft loan project, Government Savings Bank, into a policy transaction account without having to request additional budget allocations.
In addition, the Cabinet meeting also approved the proposal of the Ministry of Agriculture and Cooperatives to extend the operation period of the Agricultural Production Restructuring Fund to increase the country’s competitiveness for a period of 20 years, from July 20, 2024 to July 19, 2044, to be used as revolving funds to help farmers affected by the opening of the Free Trade Agreement (FTA), with no less than 130,706 farmer househol
ds receiving assistance. It also approved the proposal of the Ministry of Agriculture for the 2024 wet-season rice project, in which farmers will be the beneficiaries of 100% compensation in all cases, and to study measures to provide relief to farmers to prevent NPLs in the future.
The Prime Minister added that the Cabinet agreed with the Ministry of Transport’s proposal for the results of the private sector selection for the draft joint investment contract and the important conditions of the joint investment contract for the Orange Line electric train project, Bang Khun Non-Min Buri section, in which BEM was selected. Currently, the Supreme Administrative Court has ruled to dismiss all cases and the draft joint investment contract has passed the Attorney General’s examination.
At the same time, the Cabinet also approved the Ministry of Public Health’s proposal for a draft law on the registration of Category 3 narcotic drugs or Category 3 or Category 4 psychotropic substances to determine the registration
process for narcotics and psychotropic substance formulas to ensure quality, efficiency and safety, as well as to control and supervise to prevent drug leakage and misuse.
Source: Thai News Agency