Thai government to implement New Year relief measures – tax cuts, interest rates easing

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Supattanapong confirmed that the issue of electricity bills subsidy would again be brought up for discussion and approved in time for its September implementation when the new monthly energy fees go into effect.

The government has announced plans to implement several relief measures as “New Year’s gifts” at the end of 2022, including tax cuts.
Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow made the announcement following Tuesday’s Cabinet meeting, during which the agency’s proposal to subsidize the electricity bills of low-income households was not discussed.

Supattanapong confirmed that the issue would again be brought up for discussion and approved in time for its September implementation when the new monthly energy fees go into effect.



The deputy prime minister added that the ministry is also negotiating with banks and other financial institutions to keep interest rates unchanged for as long as possible in order to assist borrowers struggling with the effects of high inflation and high energy prices.

When asked about the liquidity situation of Thai banks, Supattanapong said there was no immediate need to raise interest rates. Although the situation appears stable at the moment, he noted that this could change in the future.



Acting Prime Minister Gen Prawit Wongsuwon is meanwhile also expected to soon convene a meeting of the National Energy Policy Committee (NEPC) to discuss measures encouraging energy conservation and promoting the use of alternative energy sources in the country. (NNT)