Bangkok: The Ministry of Finance is set to propose the "Thai Helps Thai Plus" initiative as a strategic measure to alleviate living costs, with implementation anticipated to begin in May. This initiative will coincide with a royal decree aimed at increasing the Oil Fund's funding ceiling to 150 billion baht, transitioning from broad price subsidies to more targeted assistance.
According to Thai News Agency, Deputy Prime Minister and Minister of Finance, Ekniti Nitithanprapas, outlined the Ministry's plans following a senior executive meeting. The meeting was convened to discuss measures to address the public's financial burden due to rising energy costs stemming from the Middle East conflict. The "Thai Helps Thai Plus" project, which combines elements of the existing Half-Price scheme and the welfare card, will enable welfare card holders to spend at participating Half-Price merchants. Registration for participants will be conducted through smartphones, and the initiative will use AI technology to facilitate small business access to loans.
In managing the energy crisis, the Ministry of Finance is working closely with oil refineries to prevent price exploitation and smuggling. The government has shifted its subsidy strategy to focus on individual aid, specifically targeting vulnerable groups, including the 13.4 million state welfare card holders. The proposal is expected to be presented to the Cabinet in early April 2026.
Mr. Lawaron Saengsanit, Permanent Secretary of the Ministry of Finance, announced that the previously planned increase in the 100 baht allowance for welfare card holders is under review. The Ministry is prioritizing the "Thai Helps Thai Plus" initiative as the initial step in providing assistance, with spending expected to commence in May 2026. Registration for the initiative will be open by the end of April, integrating databases for broader store access.
The Ministry has also formulated scenarios to manage the fiscal implications of prolonged conflicts, emphasizing the importance of targeted subsidies to avoid a financial crisis. Tools like the Fuel Fund and excise tax are being utilized to curb diesel price surges. The government has managed to keep oil prices around 40 baht per liter by leveraging the Fuel Fund.
To ensure effective oil price management, the Ministry is preparing to increase the Oil Fund's loan guarantee limit to 150 billion baht. A royal decree is in progress to facilitate this increase, allowing the Ministry to guarantee loans required by financial institutions. The Permanent Secretary confirmed the availability of approximately 300 billion baht in public debt for this purpose, contingent on global oil price trends.