ID :
204353
Tue, 08/30/2011 - 10:31
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Shortlink :
http://m.oananews.org//node/204353
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Thai entrepreneurs urged to cut prices
BANGKOK, August 30 (TNA) - The Thai Ministry of Commerce said on Tuesday that local entrepreneurs will be urged to cut their products' prices in line with a drop in fuel costs.
Permanent Secretary for Commerce Yanyong Puangraj told reporters that the new Thai government's recent move on reducing fees for the state oil fund levied on premium and regular gasoline, or benzene 95 and 91, as well as diesel has cut costs of local business operators who will, therefore, be encouraged to reduce their prices of products accordingly.
Yanyong pointed out that the prices of steel racks on the domestic market, for example, have dropped by 20-30 baht per ton, paper by 9.50 baht per ton, electrical appliances by 2-7.75 baht per unit, cement and chemical fertilizers by one baht per 50-kilogram bag and battery by 0.75 baht per unit.
Yanyong acknowledged that his ministry has called for local manufacturers of four products, including electrical wires, car batteries, car tyres and steel, to review their proposed price rise, as instructed by Thai Deputy Commerce Minister Poom Sarapol, who has also delivered a policy on deferring all products' price hike to relieve consumers' burden on costs of living and to survive local businesses for a certain period of time.
The senior Commerce Ministry official assessed that the reduced fuel prices will also lower Thailand's inflation in the second half of this year by some 0.924 per cent year-on-year.
Meanwhile, new Thai Commerce Minister Kittirat Na-Ranong insisted that his ministry has no policy to force the local business operators to cut their products' prices, but to, instead, seek their cooperation to reduce their products' prices voluntarily. (TNA)
Permanent Secretary for Commerce Yanyong Puangraj told reporters that the new Thai government's recent move on reducing fees for the state oil fund levied on premium and regular gasoline, or benzene 95 and 91, as well as diesel has cut costs of local business operators who will, therefore, be encouraged to reduce their prices of products accordingly.
Yanyong pointed out that the prices of steel racks on the domestic market, for example, have dropped by 20-30 baht per ton, paper by 9.50 baht per ton, electrical appliances by 2-7.75 baht per unit, cement and chemical fertilizers by one baht per 50-kilogram bag and battery by 0.75 baht per unit.
Yanyong acknowledged that his ministry has called for local manufacturers of four products, including electrical wires, car batteries, car tyres and steel, to review their proposed price rise, as instructed by Thai Deputy Commerce Minister Poom Sarapol, who has also delivered a policy on deferring all products' price hike to relieve consumers' burden on costs of living and to survive local businesses for a certain period of time.
The senior Commerce Ministry official assessed that the reduced fuel prices will also lower Thailand's inflation in the second half of this year by some 0.924 per cent year-on-year.
Meanwhile, new Thai Commerce Minister Kittirat Na-Ranong insisted that his ministry has no policy to force the local business operators to cut their products' prices, but to, instead, seek their cooperation to reduce their products' prices voluntarily. (TNA)
