Bangkok, The Prime Minister emphasizes resolving debt throughout the system. Helping debtors in and outside the system to be completed within this government Revealed that there is gradually success in negotiating debt resolution. As for debt outside the system, 12,000 cases have been settled. Debt value has decreased by 670 million baht, asking the bank to help ease chronic interest rates in the system. Mr. Settha Thavisin, Prime Minister and Minister of Finance Lead the team to announce progress in solving debt both in the system and outside the system. which includes Mr. Anutin Charnvirakul, Deputy Prime Minister and Minister of Interior. Pol. Gen. Torsak Sukwimon, Commissioner of the Royal Thai Police, Mr. Lawan Saengsanit, Permanent Secretary of the Ministry of Finance. and Mr. Kittirat Na Ranong, Advisor to the Prime Minister, jointly made a statement, confirming that the entire debt system will be resolved within this government. During the past two months, the entire system has been integrated to so lve the problem. Debt resolution markets have been established in every area of ??the country. Open for debtors outside the system to register. Coordinate with creditors to solve problems. Reduce interest according to the law. and prosecuting creditors who use violence in debt collection. However, it was also found that some debtors refused to register. Requesting cooperation in registering In order to provide complete and comprehensive assistance As for debtors in the system There is coordination between both debtors As for villagers, farmers, and SME entrepreneurs, all 4 groups are ready to provide savings cooperatives. Reduce interest to no more than 4.75 percent. Set a policy for debtors with a salary. Most of them are civil servants, teachers, and police officers. The plan requires that there must be at least 30 percent of salary remaining after deducting debt. There is a request from the Government Savings Bank. The Bank for Agriculture and Agricultural Cooperatives (BAAC) helps to take care of it. Int erest relief, vocational training to prevent debtors from falling back into debt. This is considered a sustainable solution to debt problems. In addition, we also ask for cooperation from commercial banks to help chronic debtors. Leading to a reduction in the interest rate in the system to as low as 3-5 percent, along with the possibility of deducting salary in the form of deduction of principal and interest simultaneously. For resolving debt outside the system, since December 1, 2023, mediation has been completed in 12,000 cases. The debt amount has decreased by 670 million baht from 140,000 registrants, with a total debt of 9,800 million baht. Complete information has been provided for both debtors and 21,000 debtors. For helping debtors outside the system, there are 4 steps: 1. Be proactive. Registration publicity And in order for people to have convenient access to debt relief, the Ministry of Interior joins with various agencies. Open debt resolving markets in every province. At least 4 times a month 2 . Police officers sweep up creditors outside the system. In the case of severe debt collection In the case of pawning a car illegal motorcycles 3. Assign the Ministry of Finance by the Government Savings Bank and BAAC to jointly provide low-interest investment sources. After debt mediation and organize career development Create additional income for debtors He reiterated that he asked the two state banks to use the money to help debtors in difficulty. It's better than just hugging profits. 4. Help debtors not fall into debt again. to have additional income by relevant agencies such as the Ministry of Labor Ministry of Industry Ministry of Social Development and Human Security joins forces to develop labor skills Create additional income It is considered a sustainable solution to debt. As for debtors in the system Debtors have been divided into 4 groups with progress in order: 1. Debtors affected by the COVID-19 incident. Or debtors with code 21 have assisted 630,000 accounts with a credit limit of 4 billi on baht. It is expected that approximately 300,000 people will be coordinated by the Government Savings Bank and BAAC to close their debts at the end of February. As for SMEs It will help the recovery status return to normal. No credit bureau Currently, we are helping approximately 10,000 SMEs with a budget of 5 billion baht. 2. Fixed income debtor group but have more debt than their potential, such as civil servants, teachers, police, soldiers, request savings cooperatives, etc. Reduce interest to no more than 4.75 percent, which the Ministry of Agriculture reports that 80 cooperatives are gradually reducing interest rates. It is expected to help more than 3,000 people. This group still has 150,000 credit card debtors. Government Savings Bank is negotiating with the government sector. To support welfare loans 3. Uncertain income group Accelerate assistance to farmers to suspend debt repayment for 1 year, 180,000 farmers with debt worth 250 billion baht, 600,000 student loans from the Student Loan Fund (SLF ), create a plan to help reduce the burden of debt relief. The burden has already been reduced for approximately 3.5 million people, approximately 400 billion baht, which is in accordance with the new law of the Student Loan Fund, which has a new calculation of debt repayment. 4. Bad debt has been outstanding for a long time. The Bank of Thailand (BoT) has established joint venture criteria for banks to establish joint venture companies. It's asset management. by Government Savings Bank Preparing to form a joint venture to establish property management. In the 1st quarter of 2024, sales debt will be transferred to a new company. and will continue to provide relief to debtors 'These 2 months, the government sector has fully integrated debt relief for the entire system. It shows the true intentions of the state. To help debtors escape from debt. But cooperation from creditors and debtors must be requested. Apply for the project and provide correct information. To solve problems on the spot, register at the di strict office, district office, call 1567 or the Damrongtham Center. Please don't wait until you are in bad debt. Please have faith in solving the debt. We will solve the entire system of debt in this government,' the Prime Minister said. Mr. Kittirat said that in the past the government sector has worked together to solve the debt problem. As for civil servants, they negotiated for salary deductions and debt repayments to be in line with the intent of the welfare loan system, with approximately 30% of salary remaining, so they helped to mediate negotiations. Credit cards, personal loans Debt relief loan with some commercial banks providing good cooperation Helps reduce interest at a lenient rate to 3-5 percent. Loan payments are made. Both interest and principal It helps solve the problem of non-performing debt (NPL) very well. It is expected that the remaining commercial banks will cooperate. Source: Thai News Agency