“Phao Bhum” Announces Delay in Senior Citizen Payment Plan, Confirms Retirement Lottery Approval.

Bangkok: "Phao Bhum," the Deputy Minister of Finance, has announced that the proposed 10,000 baht payment for senior citizens has not yet been presented to the Cabinet for approval. However, he assured that the distribution would take place in time for the Chinese New Year. Additionally, he shared positive news regarding the approval of the "retirement lottery" by the Cabinet. According to Thai News Agency, Mr. Paopum Rojanasakul, Deputy Minister of Finance, disclosed after the recent cabinet meeting that the economic stimulus project intended for the elderly, which involves a 10,000 baht disbursement in its second phase, was not part of the Cabinet's agenda due to pending considerations regarding its details. He expressed confidence that the proposal would be submitted to the Cabinet within two weeks and reiterated that the disbursement would occur before the Chinese New Year festivities as initially planned. The senior citizens eligible for the Phase 2 payment are those who have registered for the 10,000 baht top-up project via a digital wallet and meet the specified criteria. There will be additional registration opportunities for those without smartphones; however, this group will not receive payments during the Chinese New Year period. In a separate announcement, Mr. Pao Bhumi shared that the draft National Savings Fund Act, also known as the Retirement Lottery, has successfully passed the Cabinet meeting. It is now set to proceed to the House of Representatives for further consideration. Although there is a delay of 15-20 days from the original schedule, efforts are underway to expedite the process. Regarding the temporary extension of the VAT collection period for imported goods valued at no more than 1,500 baht, Mr. Pao Bhumi explained that the extension, lasting until December 31, 2025, is necessary to allow for further system preparation. This involves collaboration between the Customs Department and the Revenue Department, which necessitated the extension.