Bangkok: The private sector is rallying behind the “Half-Half Plus” initiative, advocating for its potential to bolster the grassroots economy. They are urging the government to regulate product prices to prevent excessive increases, develop policies to sustain purchasing power, and encourage the use of domestically produced goods.

According to Thai News Agency, Mr. Apichit Prasoprat, Vice Chairman of the Federation of Thai Industries (FTI), emphasized that the “Half-Half” or “Half-Half Plus” program serves as a direct stimulus for domestic spending. This initiative is instrumental in amplifying purchasing power and dispersing funds into the economy, particularly benefiting community shops and small traders through increased consumer spending. Mr. Apichit further suggested that the government should prioritize promoting domestically produced products, aligning with economic stimulus measures to enhance domestic spending and minimize economic leakage.

Despite its benefits, the initiative faces certain challenges. The stimulus effect may be short-lived, with potential declines in spending once the program concludes. Incomplete budgets or limited target group coverage could lead to inequality. Additionally, some merchants and SMEs might lack the capacity to support the program due to the costs associated with digital payment systems and technology. Increased prices by vendors could diminish the program’s effectiveness, and an overstated budget without structural planning may strain the fiscal budget in the long term.

To address these challenges, recommendations for the government include expanding the target group to provide substantial support to vulnerable populations, pairing the initiative with SME empowerment measures such as low-interest loans and digital system training, and ensuring convenient access to electronic payment systems for shops and SMEs. Further suggestions involve controlling product price hikes and implementing continuous planning by establishing follow-up programs, such as purchasing projects for low-income individuals or a Shop for the Nation project, to ensure the program’s sustainability beyond its initial phase.