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Oil fund to clear debts in two years.
(From Bangkok Post)
Byline: Yuthana Praiwan
The Energy Policy and Planning Office (Eppo) has vowed to wipe out the debts of the state-run oil fund within the next two years so that the fund can revert to its role as a mechanism to subsidise petrol prices.
The fund, established to help subsidise gas prices to curb volatility, currently runs a monthly deficit of 710 million baht, including 400 million baht in payments to clear old debts owed to oil companies. The fund currently has accumulated debts of nearly 10 billion baht.
The fund's revenue stands at around 918 million baht per month at present, mostly from levies on petrol sales. …
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