ID :
204232
Mon, 08/29/2011 - 14:54
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Shortlink :
http://m.oananews.org//node/204232
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Thai cabinet to discuss impacts of oil price changes
BANGKOK, August 29 (TNA) - Prime Minister Yingluck Shinawatra says her cabinet will discuss economic consequences of the recent oil price changes on Tuesday.
In response to the Excise Department’s plan to raise its levy on luxury products to make up for suspended contributions from petrol and diesel prices to the State Oil Fund, Yingluck said she would have to discuss the issue with the finance minister first.
Yingluck pointed out that the lost revenue from tax on oil would not reach 300 billion baht as many predicted, and that other parts of national budgets could make up for the loss.
Yingluck also said that her government would review the oil price structure to encourage motorists to use gasohol, after acknowledging that the government’s petrol price reduction scheme has affected gasohol producers.
In addition, the prime minister confirmed that the prices of goods would decrease in line with local oil prices but that would take a while because oil prices had just been cut. (TNA)
In response to the Excise Department’s plan to raise its levy on luxury products to make up for suspended contributions from petrol and diesel prices to the State Oil Fund, Yingluck said she would have to discuss the issue with the finance minister first.
Yingluck pointed out that the lost revenue from tax on oil would not reach 300 billion baht as many predicted, and that other parts of national budgets could make up for the loss.
Yingluck also said that her government would review the oil price structure to encourage motorists to use gasohol, after acknowledging that the government’s petrol price reduction scheme has affected gasohol producers.
In addition, the prime minister confirmed that the prices of goods would decrease in line with local oil prices but that would take a while because oil prices had just been cut. (TNA)
