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Thai Government Savings Bank to Help Keep Lid on Oil Prices.

Bangkok Post (Bangkok, Thailand)

| February 07, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Feb. 7--The Government Savings Bank (GSB) will provide funds if the government intervenes to cap retail oil prices, Finance Minister Somkid Jatusripitak announced yesterday.

The bank will provide stand-by credit of six billion to eight billion baht to the State Oil Fund, which will serve as the intervention agency.

Dr Somkid said interest rates for the credit line would be appropriate but he declined to reveal figures.

The ministry is looking at whether the oil fund or the government should pay the interest and is due to make a recommendation to the Cabinet on Tuesday.

The government has capped the price of premium petrol at 16.99 baht ...

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