BANGKOK, Thailand – Thailand’s caretaker cabinet has approved seven urgent relief measures to cushion citizens and businesses from surging global oil prices, Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said.
The measures come as global oil prices continue to climb amid geopolitical uncertainty between the United States and Iran, leaving Thailand vulnerable to rising living costs.
Key initiatives approved by the cabinet include:
Social welfare boost: Direct monthly subsidies for 13.4 million vulnerable citizens will rise from 300 baht to 400 baht for an initial one-month period.
Fuel tax cuts and transport subsidies: The Finance Ministry will slash the excise tax on fuel, while the Transport Ministry will roll out fuel coupons and direct PromptPay bank transfers to aid 360,000 truck drivers and 30,000 public transport operators.
Agricultural and fishing relief: The Commerce Ministry will offer subsidized fertilizers, while the fisheries sector will be supported with cheaper B20 biodiesel.
SME credit injection: State-owned Government Savings Bank (GSB) will inject 10 billion baht in soft loans to support supply chains for small and medium-sized enterprises.
Construction contract relief: State budget mechanisms will compensate contractors for fluctuating material costs and offer flexible project deadlines.
Commerce Minister Suphajee Sutthumpun stated that the government is tightening price controls on 66 essential consumer goods, including instant noodles, canned fish, and palm oil, to prevent price gouging.
Meanwhile, ahead of the Songkran New Year holiday, the Ministry of Transport is securing dedicated fuel supplies for public transport fleets to ensure smooth nationwide travel without disrupting the general public. (TNA)
