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Srettha Thavisin, Thailand's prime minister, during an event to welcome inbound tourists from China at Suvarnabhumi Airport in Bangkok, Thailand, on Monday, Sept. 25, 2023. Thailand agreed to waive visa requirements for travelers from China and Kazakhstan for five months starting Sept. 25 as the tourism-reliant nation turns to the travel industry to prop up Southeast Asia’s second-largest economy. Photographer: Valeria Mongelli/Bloomberg Image Credit: Bloomberg

Thai Prime Minister Srettha Thavisin, a property tycoon-turned politician, will donate his salary and other allowances he's entitled to from his political offices to charities.

Srettha's foregoing his earnings as premier and as the finance minister will inspire others to join "giving" and support the official policies in improving access to education and reducing income inequality, government spokesman Chai Wacharonke said in a statement. Srettha's donations include a monthly salary of 125,590 baht ($3,418) and other meeting allowances, he said.

The premier's first donation will go to Foundation for Children, a not-for-profit organization that supports underprivileged kids. The donations will go to other charitable groups to be selected by a team later, according to Chai.

Srettha was the chief executive officer of Sansiri Pcl, a property developer, before being elected last month as the prime minister of an 11-party coalition headed by his Pheu Thai party. He transferred his holding of about 661 million shares in the company to his family members.

Srettha's daughter, Chananda Thavisin, is the fourth-biggest shareholder of Sansiri, which has market value of about $789 million, according to the company's website.