Bank of Thailand plans credit-term limit

Credit crunch: A street vendor carries sweets through a clothing market in Bangkok. Small and medium-sized enterprises have been the hardest-hit sector in the Thai economy as the pandemic continues to wreak havoc worldwide. — AP

BANGKOK: Thailand’s central bank plans to punish large firms who delay paying their debts to small companies.

The move comes after a study showed that big corporates are taking advantage of small and medium-sized enterprises (SMEs) by delaying payments, leading to a credit crunch for SMEs, said Sauwanee Thairungroj, adviser to the University of Thai Chamber of Commerce.