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| Minister to Propose Diesel Price Cut |
| UPDATE : 30 July 2010 |
The deputy finance minister confirmed his plan to propose a temporary cut on diesel price by two baht a liter to the finance minister next week in hope to cut costs for transport operators.
Deputy Finance Minister Mun Patanotai said next week, he will submit to Finance Minister Korn Chatikavanij the proposal to ask PTT to lower its diesel price by two baht a liter for transport operators.
The Finance Ministry will compensate PTT's loss of income in the form of reduction of its corporate income tax.
Mun predicted that around 30 to 40 million liters of diesel will be discounted each month.
He defended his plan by saying that the predicted amount is not a big portion, compared to the average monthly diesel usage of 1.5 billion liters.
He planned to put the cut on diesel price into effect for six months to reduce costs for operators in the transport sector and it could, in turn, help boost the economy.
Energy experts have expressed objection to Mun's proposal. They argued that the current level of diesel price is not high while the operators can always opt for other cheaper types of fuel.
Meanwhile, Mun, who is also in charge of the Treasury Department, announced the distribution of commemorative coins to mark the honoring of His Majesty the King by the World Intellectual Property Organization.
Three types of coins will be made available from August 2 onwards. Two thousand polished gold coins are priced at 25,000 baht each, 1,500 polished silver coins at 1,400 baht each and 500,000 white metal coins at 20 baht each.
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