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Coupons to the shopper's rescue

Yesterday, Streetwise reported that the Treasury Department had insisted that enough small change was circulating, in response to Prime Minister Samak Sundaravej's attempt to curb large price rises by promoting the use of 25-or 50-satang coins.

Published on February 21, 2008



Of course people don't only use small change in their daily transactions. The Commerce Ministry has found other outlets that ignore small change. Many food courts just print Bt5, Bt10 or Bt20 coupons.

They ignore Bt1 coupons, and coupons in satang are out of the question. Therefore, the Commerce Ministry yesterday announced that all food courts should have a Bt1 coupon available as part of the government's plan to curb inflation, said permanent secretary Siripol Yodmuangcharoen.

If the ministry gets its way, prices at food courts would be increased more justly, in smaller increments. Vendors have adopted the habit of increasing their prices by Bt5 or Bt10 a dish after higher cooking gas prices, saying they have no small-value coupons for refunds.

Siripol said all food courts at modern outlets should print Bt1 coupons so that vendors could increase their prices but only in line with the higher production costs, which should be lower than Bt5 a dish. "If any retailers refuse to cooperate with the government, the ministry may set regulations to force them to provide small coins or coupons for exchange."

Siripol has also ordered the Internal Trade Department to encourage the use of small coins at shops and restaurants.

The measure should effectively control price rises and cushion the inflation rate, which was driven by higher prices, he said. The ministry expects inflation of 3-3.5 per cent this year.

Samak reaffirmed yesterday that his initiative to promote the use of small change was not a joke. He said it was one effective way to curb inflation.

"I can assure you that it works. It's not just the psychological effect. If customers and buyers both agree, it will work. I have a good reason to push for this. I have heard several complaints from people about the lack of small change."

"It's not too late to start using small change again," he added.

Samak, nonetheless, said he accepted all criticism.

Petchanet@yahoo.com

The Nation



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