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EPPO downplays concern on fund shortage for capped prices
The Energy Policy and Planning Office (EPPO) reiterates
that it has not yet experienced difficulties in subsidizing local fuel
prices, as the fund spent on capping the prices remains not exceeding the
loan facility of 8 billion baht it had obtained earlier.
Metta Banturngsuk, EPPO’s Director-General, said that
the measure to cap the fuel prices was aimed at cushioning possible effects
on the Thai economy and the public from higher oil prices. But the measure
would be taken on a temporary basis because the office’s main policy on
overseeing fuel prices was to floating them to reflect actual prices and
costs. He said the decision to float the prices depended on the situation on
global fuel prices, and now the office saw a need to keep the price
unchanged and reiterated the Oil Fund still spent money from the
8-billion-baht loan support capping the oil prices. It had spent around 170
million baht a day on the capping measure, he noted. Of this, 110 million
baht had been daily spent on diesel and the remaining 60 million on benzene.
Asked when the capped prices of gasoline would be further
raised, Metta said he could not disclose the exact time for fears of fuel
hoarding by service station owners. He conceded the upward adjustment of the
capped prices of gasoline was needed to reflect actual costs. However, he
said the move would be made with caution to prevent possible effects from
the price rise on the overall economy.
He disclosed that current benzene and diesel prices are 3
baht and 2.40 baht per liter lower than they should be, as the cooking gas
price is 3 baht per kilogram lower than it should be. He said the most
efficient measure to cope with rising oil prices now was to encourage people
to join the energy conservation drive initiated by the government. (TNA)
Thailand should strengthen oil trade ties with Vietnam: KRC
Thailand should strengthen trade relations with Vietnam,
particularly on fuel affairs, since the latter has high potential for oil
production, according to Kasikorn Research Center.
The leading think tank said the highest fuel price in 20
years in the world market had caused mounting concern that it would
unavoidably affect the global economy, especially that of oil-importing
countries including Thailand. In contrast, beneficiaries from the situation
are oil-exporting countries including Vietnam, which is one of the globe’s
oil producers.
KRC disclosed Vietnam had an oil reserve of around 1.7
billion barrels and ranked top as a major oil producer in Southeast Asia.
The Vietnamese government targeted to drill for around 21 million barrels of
crude oil annually. Major export destinations are Japan and China. Should
Vietnam become a member of the World Trade Organization, it would emerge as
a formidable economic player in ASEAN.
Consequently, KRC said, Thailand should not ignore
strengthening of trade relations, especially on fuel and energy affairs with
Vietnam if it wanted to depend less on the oil import from Middle East
countries or accommodate higher local demand for fuel. It viewed
Thailand’s policy on the development of economic cooperation with ASEAN
member countries including Vietnam would pave an easy way for the two
countries to boost bilateral trade relations on fuel and energy affairs.
Thailand might act as a crude refining place for Vietnam.
The proposal would help Vietnam save huge budget for the investment in
building oil refineries. KRC added the economic partnership on fuel and
energy affairs between Thailand and Vietnam would help ease effects from
volatilities of global oil prices and, more importantly, boost the
sustainable economic growth of the two countries. (TNA)
ProPak Asia attracts largest global gathering
ProPak Asia 2004 Launch
Bangkok Exhibition Services Ltd. (BES) announced that
this year’s “ProPac Asia 2004” (the 12th International Food Processing
& Packing Technology Exhibition and Conference for the Asian Region) has
attracted its largest ever global gathering of participating companies.
ProPak Asia covers 450 participating companies from 26
countries.
(L to R)
Katemanee Manthamkarn, Ministry of Industry’s packaging sub-division
chief; Anchalee Komolratanakul, Thai Packing Center director; David Aitken,
general manager of Bangkok Exhibition Services Ltd. (BES), Darunee Edwards,
director of the Food Science and Technology Association of Thailand, and
Warisara Naiyachit, senior project manager for ProPak Asia, BES.
Organizers confirmed that once again this year it will
have an extensive programme of activities.
The 2004 event, to be held from June 16-19 at BITEC in Bangna, Bangkok,
has received full industry support.
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