Prime Minister Srettha Thavisin actively engaged in tackling the informal debt problem in Nan province with a visit to the northern city on Saturday (Dec 23). Accompanied by Deputy Prime Ministers and the Ministers of Commerce and Interior, the Premier convened a meeting at the Nan Provincial Hall to formulate strategies for resolving the region’s financial difficulties.
The government’s approach focuses on creating fair solutions for both creditors and debtors, with a keen interest in adhering to legal standards. Srettha highlighted the importance of justice in debt resolution and the role of local governments and security forces in ensuring debtor safety.
As part of the resolution process, Srettha suggested organizing local debt resolution markets to facilitate easier access for both creditors and debtors. Moreover, state banks such as the Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives have been tasked with reassessing the interest rates and overall debt calculations.
Data as of December 22, 2023, shows 563 debtors and 518 creditors registered in Nan, with a total debt value of over 33 million baht. The government has set clear targets for the province, including achieving 80% participation in negotiation processes and ensuring a 70% completion rate of cases by the police. To date, out of 563 registered debtors, 52 have entered the negotiation process, with 4 cases already successfully resolved and 28 debtors assisted with low-interest loans. (NNT)
