Bangkok: The government has achieved a significant milestone in resolving the debt issues of Royal Thai Air Force personnel, with the successful implementation of a policy that has reduced welfare interest rates to below 4.75%. Mr. Jirayu Huangsap, spokesperson for the Prime Minister’s Office, announced the progress, highlighting that the debt resolution policy has surpassed its targets.

According to Thai News Agency, the Air Force has expedited the policy’s execution by collaborating with the Debt Resolution Board team. This initiative involves a regulation that ensures welfare debt deductions leave 30% of the net salary intact, with a minimum remaining salary of 9,000 baht. The resulting success aligns with government objectives, as interest rates have been reduced below the 4.75% threshold.

Mr. Jirayu emphasized the collective effort and proactive measures taken by relevant agencies to negotiate with creditors, driving down interest rates. This aligns with the Cabinet’s directive to the Department of Coo
perative Promotion to establish fair interest rates for payroll credit. Following the department’s guidance, 22 of the 27 cooperatives under the Royal Thai Air Force have reduced interest rates on all loans to below 4.75%, marking a rapid achievement beyond expectations.

The Air Force has also effectively utilized guidelines from the Department of Cooperative Promotion concerning installment payments and share capital. In June, a screening of approximately 36,000 personnel revealed that 8,286 civil servants had net salaries below 30% after debt deductions. In just three months, the number of affected civil servants has been reduced to around 5,000.