Bangkok: The government is deliberating the implementation of the "Half-Price Plus" scheme aimed at enhancing retail purchasing power while reducing reliance on subsidies from the Oil Fund amid concerns over prolonged conflicts in the Middle East. The initiative seeks to allocate the budget judiciously, prioritizing support for vulnerable groups. The Ministry of Commerce is actively monitoring street food prices and is facilitating "Blue Flag" stores nationwide to provide discounts of up to 50%.
According to Thai News Agency, during a press conference titled "One Month into the Global Crisis: Thailand's Plan to Cope in a Changing World," Deputy Prime Minister and Minister of Finance, Ekniti Nitithanprapas, highlighted that the government's decision to reduce subsidies via the Oil Fund while maintaining price controls in line with global market mechanisms has kept Thailand's oil prices lower than in many neighboring nations. Ekniti emphasized the importance of this strategy to prevent a recurrence of the 1997 Asian financial crisis and to mitigate widespread economic repercussions.
Deputy Prime Minister Ekniti also noted the global nature of the current crisis, which lacks a definitive endpoint. Consequently, the government is focusing on aiding "vulnerable groups" by considering an increase in welfare card allowances from 300 to 400 baht. A Welfare Card Committee meeting is set for Monday to deliberate on this adjustment. The "Half-Price Plus" policy, slated for introduction in early April with the new government, aims to bolster purchasing power among small businesses and participating retailers, with the Ministry of Finance having finalized the necessary preparations.
Commerce Minister Supajee Suthamphan announced enhanced price controls on six additional essential items, resulting in over 1,000 Thai-supported products offering discounts of up to 50% starting April 1. This measure follows a review and expansion of the list of controlled items from an initial 59. Private companies are mandated to report and gain approval before adjusting prices.
Regarding energy products, the Ministry of Commerce plans to collaborate with stakeholders to scrutinize the cost structure of fuel production, ensuring price accuracy. Daily inspections by officials across more than 4,000 provincial commerce offices aim to prevent overcharging and address public complaints.
To alleviate living costs, the government, in partnership with major manufacturers and retailers, is launching the "Thai Helps Thai" project on April 1, 2026, offering discounts on over 1,000 essential items. Long-term strategies include developing community products and expanding sales channels, alongside deploying Blue Flag units to remote areas.
Efforts to resolve upstream raw material shipment issues in the Strait of Hormuz involve coordination with the Ministry of Foreign Affairs, Ministry of Agriculture, and farmer associations to adjust fertilizer formulas and minimize import dependency. Additionally, negotiations are underway to maintain and diversify export markets affected by the crisis, particularly for rice shipments to Iraq.
The Ministry of Commerce's pilot project seeks to stabilize the price of ready-to-eat food by delivering low-cost raw materials directly to vendors in Bangkok and surrounding areas. The project aims to ensure cost-appropriate pricing and encourages consumers to report price inaccuracies.
Permanent Secretary of the Ministry of Finance, Mr. Lawaron Saengsanit, outlined plans to support the transportation sector by providing direct payments to operators using digital systems like PromptPay. GPS technology will track vehicle usage for accurate compensation, with trucks and public transport buses receiving assistance based on actual mileage data.
The Ministry of Transport and Department of Land Transport will lead implementation, with the Ministry of Finance supplying budgetary support estimated at 1.8 billion baht monthly. Registered motorcycle taxi drivers are also poised to receive financial assistance via PromptPay.
All measures will adhere to legal frameworks, with central funds available for immediate emergency relief upon approval. A "parallel" approach is being pursued to expedite assistance, with a potential reduction in diesel excise tax under consideration. The Cabinet has approved the principle, pending budget approval from the Election Commission, enabling swift fund allocation to welfare cardholders.