Bangchak Petroleum expects an increase of 40 satang a litre on retail petrol prices this week.

Senior director Yodphot Wongmit attributed the recent oil-price increase to the Iranian factor and higher oil demand for the hot-season travelling period.

BoI awaits Finance Ministry decision on excise tax for eco-car

The Board of Investment (BoI) will postpone details of the eco-car project, because it is waiting for the Finance Ministry to finalise the excise tax on small cars.

Deputy permanent secretary and Industry Minister Kosit Panpiemras said the Finance Ministry asked for a week or two to finalise the tax issue. After the investment-promotion criteria and tax structure are ready, a committee will be set up consisting of representatives from both ministries, to negotiate with six auto companies that have expressed their intention to manufacture the small cars. The committee will consider incentives for the auto-makers, which do not need to seek BoI incentives.

Kosit said if nobody decided to manufacture the small cars, the criteria could be revised. The criteria were originally scheduled to be completed this month.

The BoI on Thursday will also consider more incentives for the import of environmentally friendly cars.

Industry Ministry approves Bt880m budget for Otop

The Industry Ministry yesterday approved a budget of Bt880 million to develop the One Tambon One Product (Otop) project for this fiscal year, says Minister Kosit Panpiemras.

Out of that budget, he said Bt260 million would be used to reduce the risks of community producers and for assistance in business matching, while Bt290 million would go towards developing the potential of community products and production standards.

The remaining Bt330 million will be employed to develop a database and the work process of community producers. "The ministry has targeted sales of Otop products to reach Bt10 billion this year," said Kosit.