News No.   :  26/2007

Date             :  3 July 2007

Subject        : The Revenue Department and Government Savings Bank focus on development of government officers’ quality of life

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                         On 3 July 2007, Mr. Sanit Rangnoi, Director-General of the Revenue Department, Mr. Gornpot Asvinvichit, President and CEO of Government Savings Bank (GSB), Mr. Preecha Vajrabhaya, Secretary-General of the Office of Civil Service Commission, jointly signed Memorandum of Agreement on the Development of Government Officers’ Quality of Life Project at the Revenue Department. The objective of the initiative is to enable officers to borrow loans with proper interest rates in order to repay old debts and to pursue their livelihood in accordance with the sufficiency economy philosophy. Within the concept of such philosophy, people gather together as a group and help each other in solving problems in order to develop their quality of life. Each member shall contribute to the group’s saving fund. GSB will consider giving credit and assess the group’s performance by identifying indicators for good saving group with a prize system as an incentive.
Mr. Sanit Rangnoi, Director-General of the Revenue Department, said that the Agreement should ensure to the Revenue Department’s officers a better care and service on paying their debts which can be viewed as rewards for those officers who have worked with sacrifice and dedication. The loans will be given with proper and affordable interest rates preventing them to turn to the informal sector loans or other loans with high interest rates.

                         Mr. Gornpot Asvinvichit, President and CEO of GSB, said that the Revenue Department’s officers are the first group of government officers whom GSB has provided the loan service under the Development of Government Officers’ Quality of Life Project. To do so, GSB has prepared the total fund of 10,000 million baht for the loan service under the limitation that each case will be given loan credit at the amount not exceeding 2 million baht. The loan installments shall be within the period of 30 years under the GSB’s conditions and the interest rate is 7% per annum. Finally GSB are pleased to be part of this project to help the Revenue Department’s officers concentrate on working and ease their debt repayments, resulting in an improvement in their quality of live.