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Scrap diesel subsidy soon, say listed firms.

Bangkok Post (Bangkok, Thailand)

| June 01, 2005 | COPYRIGHT 2005 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

Jun. 1--The government should scrap diesel subsidies next month, the Listed Companies Association said yesterday.

Current retail diesel prices are around two baht per litre cheaper than market prices, thanks to state subsidies, according to association president Prasert Bunsumpun, who is also the president of PTT Plc, the country's largest energy company and the biggest company on the Stock Exchange of Thailand.

The state Oil Fund has spent nearly 90 billion baht on subsidies since they were initiated in January 2004. With oil prices unlikely to fall significantly from current levels, most analysts expect that the government will inevitably be forced to ...

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Source: HighBeam Research, Scrap diesel subsidy soon, say listed firms.

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