The government is exploring measures to help alleviate the impact of the surging oil prices on low-income earners, such as subsidies on liquefied petroleum gas (LPG) and natural gas for vehicles (NGV).
Prime Minister Gen Prayut Chan-o-cha has instructed related ministries to roll out additional measures to alleviate the impact of the oil crisis on the Thai people, since the Ukraine-Russian conflict, one of the primary causes of the rise in oil prices, is expected to last at least another three months. He emphasized that energy price subsidies may not be sufficient and that the government must implement other measures because the inflation rate is projected to climb further as a result of a spike in global energy prices.
The Prime Minister has instructed the Ministry of Labour to explore measures to help businesses and employees affected by the oil crisis. The Ministry of Commerce, the Ministry of Agriculture and Cooperatives, and the National Economic and Social Development Council have been tasked with researching and proposing solutions to offset rising prices for animal feed and fertilizers.
Sources said that additional measures may include subsidies on LPG costs to small food and beverage shops that participate in the co-payment subsidy scheme, benzine for motorcycles subsidy, or electricity bill subsidies. The government will likely ask for cooperation from NGV operators to help maintain NGV prices during the energy crisis as well.
The Prime Minister said that related agencies will likely submit proposals for consideration in the coming days. The cabinet will then approve and implement measures to minimize the financial burden on the general public. (NNT)
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