Energy Min to propose extension of LPG, NGV price pegging policy

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BANGKOK, 23 September 2011  – The Ministry of Energy is planning to ask the National Energy Policy Committee (NEPC) to continue pinning the prices of liquefied petroleum gas (LPG) and natural gas for vehicle (NGV) until year end.

Energy Minister Pichai Naripthaphan disclosed that during next week’s meeting of the NEPC, to be chaired by Prime Minister Yingluck Shinawatra, consideration would be given to the continuation of the price freezing measure for LPG and NGV, which was due to expire this month.

The Minister voiced support for an initial extension of the policy until the end of this year after the result of the Government’s policy to increase people’s income became more evident. Nonetheless, he said the final decision rested with the Prime Minister.

According to Mr Pichai, the committee will also concurrently mull over a financial plan aimed at restoring the liquidity of the State Oil Fund, which still needs to be used to subsidize energy prices, especially for LPG and NGV. The Energy Minister believed there would be no problem if the plan would involve seeking loans.