ID :
204153
Mon, 08/29/2011 - 13:15
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http://m.oananews.org//node/204153
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Excise Department voices concern over illegal oil exports
BANGKOK, August 29 (TNA) - The Excise Department admits that the government’s petrol-price-cut policy may stimulate illegal and speculative exports of oil to Thailand’s neighbouring countries.
Director-General for Excise Department Pongpanu Sawetrun said Monday the suspension of contributions from petrol and diesel sales to the State Oil Fund caused retail oil prices in Thailand to become cheaper than those of neighbouring countries. He said this could stimulate illegal exports of Thailand’s oil.
Nevertheless, Pongpanu said he believes that control measures currently in place, including the installation of surveillance cameras at petrol stations, the use of the GPS tracking systems to monitor the location of oil trucks, and the use of electronic control valves and truck-weight regulations, will help reduce chances of the illicit trading.
Excise tax on oil has been the Thai government’s main source of revenue, generating as much as 150 billion baht annually. In the first ten months of the 2011 fiscal year, Thailand recorded about 35,000 cases of illegal oil exports, which resulted in total fines of some 443 million baht. (TNA)
Director-General for Excise Department Pongpanu Sawetrun said Monday the suspension of contributions from petrol and diesel sales to the State Oil Fund caused retail oil prices in Thailand to become cheaper than those of neighbouring countries. He said this could stimulate illegal exports of Thailand’s oil.
Nevertheless, Pongpanu said he believes that control measures currently in place, including the installation of surveillance cameras at petrol stations, the use of the GPS tracking systems to monitor the location of oil trucks, and the use of electronic control valves and truck-weight regulations, will help reduce chances of the illicit trading.
Excise tax on oil has been the Thai government’s main source of revenue, generating as much as 150 billion baht annually. In the first ten months of the 2011 fiscal year, Thailand recorded about 35,000 cases of illegal oil exports, which resulted in total fines of some 443 million baht. (TNA)
