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National debt commission probes impact of informal loans in Phuket

National debt commission probes impact of informal loans in Phuket

PHUKET: A fact-finding study on the impact of the economic crisis has found at least 21 cases of people in Phuket taking out informal loans to repay loans already outstanding, and being unable to repay the informal loans.

economicsCOVID-19
By The Phuket News

Thursday 3 March 2022, 12:46PM


Phuket Vice Governor Pichet Panapong related the news on Monday to Chaichana Dejdecho, chairman of a subcommittee of the House of Representatives National Debt Resolution Commission tasked with investigating the handling of the national problem of asset management operations and debt management by law enforcement and the problem of informal debt, namely people owing money to loan sharks.

The subcommittee is particularly focussed on the impact on business owners and the general public, Mr Chaichana explained.

The subcommittee arrived in Phuket on Monday to conduct a three-day inspection visit, he added.

The specific objective of the visit is to assess the impact of debt conditions on business owners and the general public due to the spread of COVID-19, Mr Chaichana said.

“In addition, another objective is to collect information on government assistance measures, and suggestions for solutions to debt problems from the general public and related agencies,” he added.

“This is to clarify and express opinions on the situation of debt problems of entrepreneurs and the general public, solutions for debt problems, overall performance, obstacles, as well as useful policy recommendations to optimize a sustainable debt resolution,” he said.

Relevant agencies have provided assistance, said a report by the Phuket office of the Public Relations Department (PR Phuket) marking Mr Chaichana’s visit.

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“There has been assistance of informal debt problems to the general public through the relevant agencies,” repeated the report three times.

“There has been mediation with informal creditors in the last year, amounting to 21 cases in which each debtor had borrowed money from many informal creditors as well as taken out loans that charged daily interest,” the report said.

“In this regard, the provincial police has set up an informal debt suppression center to help people under the orders of the Royal Thai Police,” the report added, without identifying exactly which police in Phuket has set up which office or how it may be contacted.

Repeated calls by The Phuket News today (Mar 3) to the Phuket Provincial Police to confirm such a police task force exists went unanswered.

“For other problems, Phuket has assigned relevant agencies to help and solve people’s problems continuously in all matters in order to treat people’s suffering and improve happiness during COVID-19 pandemic,” the PR Phuket report added.

The report did not mark any of Mr Chaichana’s findings.

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Kurt | 04 March 2022 - 21:08:15

As long as I read 'national committee's',  nothing will change. Thai committee's members are not advising in a way that makes their committee can be dismissed!  Get real! Money sucking by committee's  is easy earning in Thailand.  We all know that. 

JohnC | 04 March 2022 - 09:05:38

They only remain 'informal loans' until you can't pay then you see the true nature of these scum who prey on the weak and gullible. Just like most bank managers really....

Fascinated | 03 March 2022 - 18:50:58

'Informal loans'? Nice way to gloss over the actions of Loan Sharks taking advantage even more than usual. there is goign to be a massive debt trap courtesy of these low lifes.

 

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