The government's consumer subsidy scheme, “Thais Help Thais Plus”, launched smoothly on Monday with buyers and merchants responding favourably, according to the finance minister.
Ekniti Nitithanprapas was also quick to point out that the scheme includes the use of an AI agent that helps participating vendors analyse sales, prices and returns.
Mr Ekniti, who is also a deputy prime minister, inspected the project's implementation personally at Thon Buri market in Thawi Watthana district of Bangkok on Monday morning,
He told reporters he saw people making enthusiastic use of the subsidy app, which they said really did reduce their living costs.
“For each purchase, the state pays 60% of the price and this helps cut the cost of living. Amid the global crisis resulting from the Middle East war, we must reduce people’s cost of living,” Mr Ekniti said.
During his visit to the market Mr Ekniti talked to buyers and sellers, getting feedback. He said most of them agreed that the co-payment system was user-friendly.
The finance minister said merchants benefit directly from the scheme, not only with boosted sales but also through use of the incorporated AI agent “Nok Krasip” (whispering bird).
In addition to recording daily sales, the AI evaluates the popularity of products, what prices attract buyers, recommends the best times for sales of goods, and calculates costs.
“Vendors can present this data, including sales figures, in applying for a loan from a bank, especially state-run banks. They do not need to go to an informal lender,” Mr Ekniti said.
The co-payment scheme covers purchases of consumer products and transport tickets. About 26 million consumers registered for the benefits, and about one million merchants signed up.
The Fiscal Policy Office reported that, as of 3pm, 3.82 million buyers had spent 797.82 million baht through the co-payment scheme. Of the total, the state paid out 463.61 million baht in subsidies, while buyers handed over only 334.21 million baht.
Participating food vendor Chanikan Suebpasuk, 27, said at Chompol market in Muang district of Khon Kaen that sales had soared Monday morning. Buyers each ordered a few food boxes, instead of just one. She also had many new customers.
“This project is good. If the government implements many schemes of this kind, they can stimulate the economy more effectively than handouts. People really benefit from this project. They can buy food and everyday consumer products. Handouts could be wasted on other spending choices,” she said.
At Muang Mai market in Phimai district of Nakhon Ratchasima province, a merchant who gave her name as “Jim” said business had been slow recently. But it picked up on Monday morning when many customers took advantage of the 60% subsidy. Although the scheme kick-started at 6am, some customers arrived at the market as early as 3am, she said.
Pian Atsungnoen, 63, said she was there with her grandchild to buy detergent, napkins, seasonings and powdered milk.
“I buy these goods every month. The Thais Help Thais Plus scheme cuts expenses. I thank the government for implementing such a project, which greatly relieves the financial burden on low income people. I would like to see more such projects follow,” she said.
Under the Thais Help Thais Plus scheme, the government limits the subsidy to 200 baht in a single day per person, with a maximum 1,000 baht a month for four months.
