Thailand to enact Oil Fund law
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Thailand plans to enact the law to govern the Oil Fund, with the draft being approved by the Energy Policy Administrative Committee.
The committee said in a statement today that the law would provide legal supports to the Oil Fund's five objectives.
The fund has been used for years to stabilise domestic oil prices particularly when global fuel prices skyrocketed.
It has also been a major vehicle in subsidising biofuel as well as fuel subsidies to the poor.
Under the law, it will also be used to invest in oil inventory as well as fuel-related infrastructure.
The committee will submit the draft law to the National Energy Policy Council and then to the Cabinet.
