Oil Fund to borrow Bt10 bn
The Energy Policy Administration Committee approved the borrowing of Bt10 billion For the Oil Fund which is operating at a loss on the government's recent policy.
Energy Minister Pichai Naripthaphan told reporters after the meeting today that loans will be sought from local financial institutions. He noted that the amount, half of the Bt20 billion eligible amount, should be enough for the fund which now carries a loss of Bt1 billion. The borrowing plan will be submitted to the Nation Energy Policy Council tomorrow. He noted the ministry is considering to resume the Oil Fund levies on octane-91 and octane-95 petrol as well as diesel, thanks to the recent declines in oil prices. he said that such should also encourage consumers to cut energy consumption, The levies have been suspended amid complaints from oil retailers and ethanol producers, as cheaper premium petrol prices lead to lower consumption of ethanol-mixed gasohol products.
