Deputy Prime Minister and Energy Ressortchef (umgangssprachlich) Supattanapong Panmeechaow the other day emphasised the need for an executive decree that could enable the Financing Ministry to guarantee credit of 150 billion baht for the Essential oil Fuel Fund, and also additional measures to help vulnerable groups.
The set up executive decree has been passed by the cupboard, which agreed to permit the Finance Ministry to guarantee a debt to become repaid by the Essential oil Fuel Fund, along with its loan associated with 150 billion baht.
Mister Supattanapong said such a decree is needed prior to the onset of wintertime as energy rates keep rising.
“In order to help the Essential oil Fuel Fund maintain its function, the ministry must find methods to support its liquidity and increase the reliability of the fund, ” he said.
“We still have to consider whether the mortgage ceiling will reach 150 billion baht. As this was a personal meeting, we are not able to disclose details. inch
The loan ceiling will be decided by the Financing Ministry in a way that does not exponentially raise public debts, he mentioned. A decision on asking for will be made by any office of the Council of State.
Some of the loan will be paid from the fund’s debts which at this point exceed 100 billion dollars baht. However this is not expected to interfere with 35-baht cap on the diesel price.
Mr Supattanapong mentioned the idea of a windfall tax was cast off after the ministry consulted with oil refinery owners when the cost of refining fell to around 2 baht a litre.
The government has also advised the Energy Regulatory Fee to take care of vulnerable organizations affected by the increasing fuel tariff (Ft) rate, he added. The Ft rate will be raised simply by next month.