Headline summary as of 8th April 2020

News

Updates related to COVID-19:

• Thailand’s COVID-19 rate showed signs of decline for the second day yesterday, with a daily increase of 38 new infections and one additional death reported, giving rise to optimism that the government has begun to get virus transmission under control.–all media outlet
• A French tourist was arrested in Patong area of Kathu district on Tuesday for not wearing a face mask. The tourist was charged with violating an order issued by the provincial communicable disease committee requiring all people to wear a face mask while outdoors – a measure against the spread of COVID-19.
• The Education Ministry has been given cabinet approval to defer the opening of the new school term from the middle of next month to July 1 due to the ongoing coronavirus outbreak.
• Deputy spokesman of the Office of the Attorney General (OAG), said prosecutors have indicted a total of 623 people for violating the emergency decree enforced to contain the outbreak of COVID-19.
• The interview in English with Dr. Tanarak Plipat, Deputy Director-General, Department of Disease Control on Virus pandemic in Thailand, stringent measures enough?–Thai PBSWorld  https://www.thaipbsworld.com/virus-pandemic-in-thailand-stringent-measures-enough/

Politics

• Prosecutors set a date of April 15 for two former executives and an MP of the dissolved Future Forward Party (FFP) to hear whether they will face charges in connection with a flash mob at Pathumwan Skywalk on Dec 14 last year. The charges are; conspiring to hold a public gathering without notifying authorities, obstructing access to and from an electric train service, failing to prevent disturbances by participants in a public space, using a loudspeaker in public without permission and illegally holding a gathering within 150 metres of a royal palace (the skywalk is across the palace of Princess Sirindhorn in Siam, the city-centre).–all media outlet
• The Senate’s spokesperson said the senate has asked all senators to donate their salary at least 50,000 THB per person to help the government in curbing COVID-19 effects.–Manager

Business

• Inflation in March declined by 0.54 percent compared to the same period last year.  This is the lowest inflation in 51 month due to the pandemic and decline in energy (oil) price. The 2020 inflation is forecasted to shrink by 0.2 percent, or contract to a historically low level of -1 percent in the worst-case scenario. Overall, Moc anticipates GDP this year to contract by 4.8 – 5.8 percent.
• Cabinet approved of an Act that enables various Ministries to transfer some of their budget (worth 80 billion – 100 billion Baht) to finance Covid19 relief measures. 
• Cabinet also approved of Phase 3 of Covid19 Stimulus Package – worth 1.9 trillion Baht (9 percent of GDP) to be executed through 3 decrees.
•  A decree that allows the Ministry of Finance to borrow 1 trillion Baht for its projects to:
  • Extend 5,000 Baht cash hand-out from 3 months to 6 months, until September 2020; assist farmers and support public healthcare
  • Budget: 600 billion Baht
    • Create employments for farmers and labourers to strengthen the local economy
  • Budget: 400 billion Baht
    • MoF expects the borrowing to start in May 2020 through to September 2021
• A decree that authorizes Bank of Thailand to provide soft loans to an estimated 1.7 million SMEs (budget: 500 billion Baht)
  • Soft loan to SMEs with 2 percent interest
  • Debt Moratorium for SMEs for 6 months
• A decree to Stabilize Financial Liquidity (budget: 400 billion Baht)
  • Establishing a Corporate Bond Liquidity Stabilization Fund (BSF) that allows BOT to buy ‘investment-grade’ corporate bonds to maintain the liquidity of the debenture market

ASEAN/World

• Yesterday, the Japanese PM Abe Shinzo has declared the one-month state of emergency in seven provinces, including Tokyo and Osaka in an attempt to curb the outbreak of COVID-19.–Thai News Agency

Australia

• HOM’s interview with Matichon Weekly has been published online:  https://www.matichonweekly.com/column/article_293583
• Australian Central Bank has decided to keep the policy interest rate at 0.25 per cent and warned that the economic effects of COVID-19 will be dragged on until
• the second quarter.–Krungthep Turakij

Headline summary as of 7th April 2020

News

• Their majesties the King and Queen have returned back to Thailand. His Majesty the King received the audience of PM Prayuth and DPM Anutin to report on the situation of COVID-19 transmission. The King have given more than 100 respiratory machines and 2 million face masks for the government and recommended the government measures to be more systematic. The Queen gave particular supports to public health staffs.

Updates related to COVID-19:

• The Department of Disease Control announced that as for today, there are 38 newly confirmed cases, a total of 2,258 confirmed cases. Out of which, 1,408 are being hospitalised; 26 dead and 824 recovered. –Khao Sod
• A spokeswoman for the US embassy in Thailand said the United States had no knowledge of a shipment of face masks bound for Germany that officials in Berlin have accused it of diverting from an airport in Bangkok. The comment came after Berlin Secretary of Interior Andreas Geisel said on Friday that an order of 200,000 masks bound for Germany had been “confiscated” in Bangkok and diverted to the United States.–Bangkok Post
• The ban on all commercial flights into Thailand has been extended to April 18, as the government ramps up efforts to prevent clusters of COVID-19 infections among travellers from abroad. On Saturday, it banned all passenger flights from operating until Monday. Then, hours before the order expired, the aviation regulator (CAAT) issued another announcement which officially extended the ban to April 18.
• MFA spokesperson said this morning that the CAAT’s order was aimed to limit the number of returning Thais to be around 200 per day. The number 200 is from consultations with different agencies. The authority could ensure the returnees are in state quarantine. https://news1005.mcot.net/view/5e8bf12fe3f8e40af4434cfb
• Bangkok Post ran its editorial “Decree risks overreach”, questioning why the media regulations have to be part of the emergency decree. The editorial suggests that the government’s duty at this time is to correct false information, not to capture it.   https://www.bangkokpost.com/opinion/opinion/1894410/decree-risks-overreach
• Seventy-six passengers who arrived on Monday from Indonesia, where they attended a religious event, are expected to be sent to state quarantine facilities in their home provinces on Tuesday.

Politics

• The appointments of four new Constitutional Court judges and the new court president have been formally announced in the Royal Gazette.–all media outlet

Business

• The Department of Employment announces that more than 140,000 employees lost their jobs last month due to the fallout from the COVID-19 pandemic.–Bangkok Post
• The Higher Education, Science, Research and Innovation Ministry is set to organise training programmes for 40,000 unemployed people who lost their jobs because of the pandemic. The programmes will be supported by 80 universities, covering language skill development for tour guides, tourism management, business management for entrepreneurs and farm-related development. –Bangkok Post

ASEAN/World

• The UK Prime Minister Borris Johnson was taken into intensive care last night as his condition was deteriorating. He has been working from home since he has tested COVID-19 positive since March 27.

Headline summary as of 6th April 2020

News

Updates related to COVID-19

• As of today, In Thailand there are 51 newly confirmed cases, total 2,200 confirmed cases. Three have been reported dead, making 26 total dead.
• Last night, Ministry of Interior released a memo telling provincial governments to step up its preparedness prompting speculation that a nationwide provincial lockdown and a 24-hour curfew is imminent. The memo ordered local governments to prepare local quarantine sites, store food and necessities, prepare field hospitals. In the case of lockdowns, local governments are designated to supply food and necessary items to the people.
• This morning, the COVID-19 Situation Administration Centre has dismissed the speculations, and warned people of the legal penalty of spreading ‘fake news’.
• Last Friday, groups of Thais who have returned to Thailand on the earlier entry regulations to obtain ‘fit-to-fly document’ were struck at the airport, since the authority claimed to utilise a new regulation, announced on 3rd April (the announcement was made when they were on the flights). The new regulation banned passenger from any nationality from entering Thailand for three days, those who have obtained the earlier documents will need to be under state quarantine. Passengers refused to cooperate, claiming they did not have the knowledge of the forced quarantine. After that, a high-ranking military official at the airport negotiated with the passengers and allowed them to go back home, on the condition that they should remain ‘silent and docile’. 

• However, on Saturday, the government has declared a deadline for all passengers to report to provincial authorities or at the airport within 6 pm. If not, they are considered escaping and will be hunted down for violating the emergency decree. All passengers reported to the authority in time.
• A media outlet and some social media users shared the full name, passport numbers and address of all the passengers, wishing to social punishing those who ‘escaped’. 
• Civil Aviation Authority of Thailand’s director said that as of midnight today, they will start to re-open the sky again accepting Thai passengers who wish to get home. 

• The Immigration Bureau (IB) plans to seek cabinet approval for a new raft of measures for three different categories of foreigners in Thailand affected by the COVID-19 crisis.
• The government has warned private hospitals not to send medical bills to COVID-19 patients or their families, saying their medical expenses will be paid for by the government.
• The Department of Livestock Development (DLD) reported that African horse sickness (AHS), which was recently reported for the first time in Thailand, has caused the deaths of at least 154 horses in Nakhon Ratchasima, Prachuap Khiri Khan, Chon Buri and Phetchaburi

Politics

• House Speaker Chuan Leekpai said on Friday the House would reconvene on May 22 as scheduled with the spending plan for the 2021 fiscal year high on its agenda.–Bangkok Post
• Tomorrow, the cabinet is scheduled to meet to approve a new economic stimulus package and, highly likely, loan bills.

Business

Foreign Workers

• An estimated 100,000 foreign workers whose work permits have expired but are unable to leave Thailand due to border closures before or on April 30 are allowed to continue working in Thailand until the borders re-open.https://www.mol.go.th/en/news/labour-migration-issues-cleared-as-mol-receives-cabinets-approval-for-over-100000-migrant-workers-through-mous-and-workers-on-the-border-to-remain-and-work-in-thailand/

Social Security

• The Labour Ministry is reducing the monthly contributions of Measure 39 self-employed individuals to the Social Security Fund from 432 Baht to 86 Baht for the duration of 3 months in light of the pandemic outbreak. https://www.mol.go.th/en/news/insurers-persons-celebrate-as-cabinet-approves-reduced-contributions-for-section-39-and-increased-benefits-for-section-33/

Agriculture/Supply Chain

• The Office of Economics Agriculture expects agricultural sector in Q1 of 2020 to contract by 4.8 percent compared to the same period last year, attributable to Covid19 outbreak that disrupted trade, logistics and distribution capacities.  The shortage of labourers is also another hurdle for the sector.
•  Fruits will be affected the most because they will be available in the market in Q1 and Q2
•  Pork, cassava and rice are to benefit from the surge in global demand.  Unhusked rice output for 2019/2020 is anticipated to total 28.3 million tonnes, which is enough to sustain domestic consumption (13.3 million tonnes), but might affect allocation for export (15.38 million tonnes), industrial use (2.4 million tonnes) and seedling (1.37 million tonnes).
• Pork continues to see higher demand within Thailand and from neighbouring countries due to supply shortage resulting from African Swine Flu. Some 92.86 percent of Thailand’s 1.68 million tonnes of pork production is for domestic consumption.
• The 2020 cassava supply will see a 5.11 percent decline due to the drought, but demand for it is rising as cassava is used in the production of disinfectant alcohol. https://www.prachachat.net/economy/news-442668
• Thai Rice Exporter Association asserted that Thailand will not ban rice export just yet and will only do so if export exceeds 900,000 tonnes nextmonth (current monthly export is 600,000 tonnes).  The price of rice is expected to increase by 20-30 percent if the pandemic is not contained in a few months.  In the past week alone, Thailand’s rice export price had gone up by 71 dollars per tonne, partly because other countries such as Vietnam, India, Cambodia and Myanmar are restricting or banning rice export as a result of both the drought and pandemic.https://www.bangkokbiznews.com/news/detail/874625?fbclid=IwAR0vxblbHB1UaGwh_8mRrgE2K6RwBfC-4jy7M1tbiEV7sH_0a4WV8k5_Zc0

Stimulus Package

• The first batch of 5,000 Baht cash-handout will be made on 8 April to eligible applicants.  To date, some 260,000 people have withdrawn their applications to receive the cash hand-out after The Ministry of Finance allowed ineligible applicants to revise or cancel their applications from 4 April until the end of June through the government’s website www.เราไม่ทิ้งกัน.com (http://xn--q3c.com/).   The total number of applicants from 28 March – 6 April stood at 24.2 million. https://www.nationthailand.com/news/30385471

ASEAN/World

• On 5 April, American troops attending the Thai-US Hanuman Guardian 2020 joint military exercise were waiting in Pattaya City in Chon Buri to depart Thailand after the drill was shortened due to the COVID-19 pandemic. 

Headline summary as of 3rd April 2020

News

• Updates related to COVID-19 in Thailand:
  • As of today, there are newly confirmed 103 cases, 1,978 total cases and 19 total dead.
  • Yesterday the PM held a national address announcing nation-wide curfew from 10pm until 4am starting since last night. Media quoted a source in the government house saying that the PM is monitoring the situation for one more week. Should the infection rate remain as high, the 24 hours curfew measure will be considered/enforced. The curfew came with an exception for people who work in medicine, banking and delivery of consumable goods, crops, medicine, medical supplies and equipment, newspapers and gas; people who work shifts; people who are traveling to and from an airport; and people with permission from their district officials. International arrivals have been tightly restricted, requiring medical clearances prior to departure and 14-day self-isolation after arrival. The PM stressed that he would place public health concerns prior to liberty.—all media outlet
  • The government will block all travel to Thailand, including by Thais, for half a month to prepare “state quarantine” facilities after more local patients have been linked to imported cases.—all media outlet
  • Today, the PM has ordered a special cabinet meeting at the government house to consider new economic stimulus packages. A media quoted a source in the Finance Ministry report that the Ministry will propose a 800 billion-1 trillion THB loan bill to curb the effects of COVID-19 on Thai economy.–Thansettakij
  • Yesterday, the COVID-19 Administration Centre reported 104 newly confirmed cases, 1,875 total confirmed cases. Out of the 1,875 cases, 1,355 are being hospitalized and 23 of the hospitalized are in critical condition.
  • An attempt to reduce the cost of living burden, the electricity and water bills will be discounted for 3 percent from April until June.—all media outlet
  • About 10,000 tourists remain on Koh Chang as authorities there prepare for a flood of arrivals from the shut-down beaches and bars around Pattaya, after their call for the province to be locked down was rejected.—Bangkok Post
  • Social media outlet started to pick up the budget that army has been using 22 million THB to spray disinfectants on streets in Bangkok.

Politics

• Matichon Weekly ran a special report hinting the reason why PM Prayuth did not deploy military to be stationed at the inter-provincial health check-points and appoint the Commander in Chief to be the head of security in COVID-19 Administration Centre, rather than Army Chief Apirat. The author wrote that after active shooting incident in Nakhon Ratchasrima months ago with the Army’s involvement, there were rumours that PM Prayuth would dismiss General Apirat. Even though, the PM might not want the public to get too alerted from seeing military personnel on streets, the author wrote that this could be seen as the PM’s fear from getting coup’d etat by the army. Another point of conflict might be the next army chief: the PM and Army Chief both have their own preferential candidate.

Business

• Forbes Thailand has announced 50 richest Thais for 2018. The CP owners remain the richest, despite their assets have devalued.  Red Bull owner, ThaiBev and real estate tycoon, and Central Pattana family ranked second, third and fourth.—Matichon
• Thai Airways has announced that the national carrier will cease its flights internationally and domestically from April until the end of May and has compensated 50-90% of wages for its employees.—all media outlet
• A fresh batch of relief measures for people and businesses affected by the outbreak, farmers and capital market stabilisation is set to go before the economic ministers’ meeting today before being forwarded to the cabinet next Tuesday.—Bangkok Post

ASEAN/World

• Coronavirus Pandemic globally passes 1 million infected.
• The natural resources and environment permanent secretary said Thailand will seek talks with Myanmar and Laos to lend strength to the fight against haze and smog pollution. The Environment Ministry is being urged to talk with the neighbouring countries, although it has also acknowledged that part of the problem has originated from bushfires within this country.—Bangkok Post

Australia

• HOM’s interview with Matichon Weekly, “Thailand-Australia: an intimate and smooth relation (1)” is published. The focus is on Canberra’s measures on COVID-19 and HOM’s interest in Asia and Thailand.

Headline summary as of 2nd April 2020

News

• Updates related to COVID-19
  • HM King Maha Vajiralongkorn donates medical equipment to Thammasart Hospital and Charoenkrung Pracharak Hospital
  • As of 1 April, there were reported 120 newly confirmed cases, 1771 total confirmed cases and 12 total deaths.
  • The Bangkok Metropolitan Administration (BMA) has ordered all shops including convenience stores and street vendors to close from midnight to 5am, as it steps up restriction to prevent the spread of the coronavirus. All public and private parks, including those at condominiums and in communities will also be closed from 2 to 30 April to prevent large gatherings.
  • Thai Governor of Samut Prakan has ordered convenience stores must now open from 5am to 11pm. In addition, everyone should wear masks while outside. This order lasts until 30 April.
  • Border authorities anticipate a mass movement of Thai migrant workers are returning home from Cambodia while Cambodia authorities had ordered the casinos in Poipet closed from 1 April – ThaiPBS
  • PM Prayut is aware of long queues at Immigration and there is now a plan to grant automatic extension of visa for tourists who arrive in Thailand after 1^st March
  • PM Prayut will chair a special cabinet meeting tomorrow to discuss additional stimulus measures to ease the impact of the COVID-19 pandemic on the economy
  • Ministry of Industry is providing 10 million pieces of cloth masks to the citizens of Bangkok via Thailand Post. The first lot will comprise 1 million pieces, followed by 2.5 million masks that will be handed every 15 days – all media outlet
  • Over 100 Department of Special Investigation (DSI) officers were ordered to quarantine for two weeks after an officer working at its headquarter was confirmed to be sicked with COVID-19

• 109 horses killed by viral African sickness in Pak Chong district  –  Thai Rath, Matichon

Business

• Cabinet had approved of the budget for the 5000 Baht cash-handout to cover 9 million people – an additional increase of six million people (original estimate was three million).  This brings the total budget to 135 billion Baht, which sources said will be pooled from various ministries.  The first of three tranches of handout will be made later in April, only to eligible applicants.  As of 31 March, 21.7 million people have registered for the cash-handout.

• Value added tax will be waived for donations of items used in the treatment, diagnosis or prevention of Covid-19 from March 1 until the end of February next year. A similar waiver was also approved on income tax and VAT for companies or juristic persons who make donations to combat the outbreak.  The waiver will cost the state 500 million Baht. – Bangkok Post

• The announcement for the import duty exemption of items used in the treatment, diagnosis and prevention of Covid19 is pending the Office of the Council State’s approval, which precedes enforcement.  The announcement is drafted by the Customs Department (through the Ministry of Finance) according to the list of items designated the Ministry of Public Health. – Customs website

• In lifting the import duties for surgical masks, medical equipment, test kits and medication for Covid19, PM Prayut ordered the Ministry of Public Health to expedite the process of setting up the qualification standards for the import of these items.  The Food and Drug Administration (under MoPH) is to spend 1 day on completing the process and the Department of Medical Science (also under MoPH) is to spend 4 days on the it.  –  Thansettakij

• Ministry of Labour had adjusted to Social Security benefits for the unemployed, approved by the cabinet yesterday.  The original announcements were made as part of the Phase 2 stimulus package on 24 March: 
  • Measure 33 employees who have lost their job or their employers have terminated their employment as a result of COVID 19 will receive 62 percent (revised from 50 percent) of their daily wage for no more than 90 days (revised from 180 days). 
  • Measure 33 employees whose employment have been suspended as a result of the government’s regulations to curb the spread of COVID19 will receive 62 percent (revised from 50 percent) of their daily wage for 90 days (extended from 60 days). This would ensure that these Measure 33 employees receive a minimum compensation of 5,000 Baht per month, even if their salary is less than 5,000 Baht.  This change is to ensure that the Social Security insured workers will receive 5000 Baht – the same amount as the cash hand-out.  – Minister of Labour website

• Cabinet approved a proposal to raise the Bank for Agriculture and Agricultural Cooperatives’s registered capital by 6 billion Baht this year, bringing total registered capital to 62 billion.  Once the registered capital increase is complete, the bank aims to extend 101 billion Baht in loans this year.  Some 50 billion Baht of the total will be offered to seven programmes including a smart farming project, famers affected by drought, loans to build additional water resources and an upgrade of agricultural cooperatives.  It will also provide loans to SMEs and community businesses.

Others

• The University of the Thai Chamber of Commerce (UTCC) expects Thailand’s export to see the worst contraction in 10 years.  In its worst-case scenario projection, export will see a decline of 7.1 percent and export value will shrink by 557.72 billion baht this year.  UTCC expects the impact of Covid19 outbreak alone to cause Thai export value to shrink by $13.48 billion.  Agricultural exports are expected to fall by 8.3-22% or $1.33 billion due to the stringent inspection procedures to curb the virus spread. Risk products include chilled and frozen boiled and fresh shrimp, edible vegetable oil, chilled and frozen fresh fruits, and rice. Thailand’s export to China is forecasted to drop by 1.2 -13.5% this year, the lowest in six years.  As much as 80% of export products from Thailand are raw materials, with finished products (35.7% of which are fruits) making up 20%. –  Bangkok Post

• The tourism confidence index plunged to the lowest level in nine years, though the industry is optimistic about the final quarter of 2020, which could lead to a total of 26.6 million international arrivals this year, according to the Tourism Council of Thailand (TCT) – Bangkok Post

Headline summary as of 1st April 2020

News

• Updates related to COVID-19
  • As of today, there are reported 120 newly confirmed cases, 1771 total confirmed cases and 12 total deaths.
  • In a brief news conference after the weekly cabinet meeting, the PM has warned that if the current measures could not flatten the infection curb, he is willing to close down all transportation systems, if need be.—all media outlet
  • Nonthaburi province, a part of Greater Bangkok, yesterday imposed a curfew banning people from leaving home between 11pm and 5am until further notice in a fresh bid to stem the surge in coronavirus infections in the province.
  • The cabinet has eased its regulation to allow migrant workers from Cambodia, Laos and Myanmar, whose work permit might have ended since 25 March 2020, to be able to work in Thailand legally until the emergency decree is enacted.
  • The Ministry of Defence has taken back its 6.1 billion THB proposal to sort out landing cruise for the Royal Thai Navy to accompany the submarine. The proposal was on the weekly cabinet meeting yesterday. The Ministry was under heavy criticism for not taking the difficulty people are facing amidst the COVID-19 crisis. The Navy said earlier yesterday that this proposal has been pushed long before the COVID-19 crisis.
  •  The Bangkok Metropolitan Administration (BMA) on Tuesday dismissed as untrue reports that it will announce a full lockdown and keep city residents at home in a bid to curb the spread of the novel coronavirus. Earlier last weekend, the Nation Group media reported quoting a source saying that the Bangkok Governor was holding a meeting with related officials on the possible Bangkok lock-down.
  • A dentist has been forced into self-quarantine after one of her patients initially withheld information that he had been among spectators at a Covid-19-spreading boxing event in Bangkok.—Bangkok Post

Politics

• Sompong Amornwiwat, main opposition Pheu Thai Party’s leader says the opposition parties are willing to cooperate with the government to pass through COVID-19 crisis together.–Matichon
• Bangkok Post ran an op-ed on “Coronavirus and democracy in Southeast Asia”.

Business (supplied from Daily Economic Summary by Khun Katherine and Khun Duangporn )

Ministry of Transport

• Passengers are allowed to carry liquid hand sanitizers With a maximum volume not exceeding 350 ml. (12 ounces) per piece on board or into the restricted areas of the airport in an effort to prevent the spread of the COVID-19

• The closure of Phuket International Airport will take effect at 00:01am on April 10, and continue to April 30. The announcement of the closure of the airport also follows the bridges onto and off the island being locked down as of midnight last night, along with all boats and piers no longer allowed to permit entry except for emergency vehicles and vessels, and vehicles and boats delivering essential consumer goods and medical equipment and supplies.

Ministry of Labour

• Ministry of Labour’s Social Security Office amends ministerial regulations  that would allow insured persons in the social security system earning less than 5,000 Baht to receive a minimum of 5,000 Baht per month, if their work is affected by COVID-19. The measures are effective from March 1, 2020, for consistency and equality in helping workers who are not in the social security system. The measures will be submitted to the Cabinet for approval on the upcoming Tuesday, March 31.

Supply chain issues

• Mitsubishi and Toyota are suspending their car assembly lines throughout April.  Mitsubishi will suspend productions at their 3 plants in Laem Chabang (EEC area), Chon Buri province from 1 – 26 April.  The affected employees will be paid 85 percent of their salary.  Toyota will also suspend their 3 assembly lines in Chachoengsao province (EEC area) from 7 – 17 April.  This is in response to the declining local demand and export demand for automobile, as well as the disrupted global supply chain resulting from Covid 19 outbreak.

Export restrictions on essential products /Price gauging/ Food shortages

• The Ministry of Commerce is extending the ban on egg export for another 30 days (not published in The Royal Gazette yet).  It will be effective from 31 March until the end of April; a continuation of its previous 7-day ban which is set to expire today.  Ministry of Commerce said egg prices should be pegged at 2.80 baht apiece and distributed to retail outlets as quickly as possible to meet the exceptionally high consumer demand. https://news.thaipbs.or.th/content/290451?fbclid=IwAR3gyUBr1OKfWubazUeR1K9koZEgTiUO1HsP2jARtw53AoanYzIBawGGCKQ

Effectiveness of Government stimulus packages

• Ministry of Finance is preparing the third phase of the Covid19 relief package, but it will not be ready for the cabinet’s consideration today.  The third package will be larger than the previous two and will support SMEs, financial institutions and people in rural areas.  https://www.bangkokpost.com/business/1889570/finance-ministry-readies-phase-3-of-virus-welfare

• Ministry of Finance is considering issuing an executive decree to allow the government to borrow 200 billion Baht for its third phase of stimulus package.  This could include appropriating 10 percent of the 1.98 trillion Baht fiscal 2020 budget of each ministry for a central fund, which will be managed by Prime Minister Prayut as empowered by the state emergency decree.  Another funding source is by borrowing from domestic financial institutions.

Other interesting tit bits

• As part of the government’s phase 2 stimulus plan, the Government Savings Bank has postponed the online registration date for its 20 billion-Baht special and 40 billion Baht emergency loans from 1 April to 15 April.  This is to prevent confusion with the registration for 5,000 Baht cash-handout.  https://www.posttoday.com/finance-stock/news/619269
• The Ministry of Industry will suspend debt payments for 12 months for SMEs affected by Covid19 outbreak who borrowed monthly from the 20-billion Baht Pracha Rat Fund in a move to control NPL rate. Businesses can apply for debt suspension at SME Development bank from April 10 – 30 June. This will cover 5,600 businesses in the agriculture and processing, retail, services and tourism sectors. Bangkok Post, 31 march
• An estimated 95 percent of the hotels registered in Thailand, or 30,936 hotels, are expected to earn zero income in April as the lockdown is expanded to several provinces.  Phuket is speculated to experience the greatest loss since 87 percent of its hotels will close in April. Nationwide, the lockdown is anticipated to leave 1.63 million workers in the hospitality sector with no jobs and without support from the government, despite their contribution to the Social Security Fund. To this end, the Thai Hotels Association is urging authorities to officially order the closure of the hotels to ensure employees become eligible for Social Security Fund’s unemployment benefits.  https://www.bangkokpost.com/business/1889790/april-lockdown-batters-30-000-hotels