Oil Fund's cookinggas contribution to be raised

The ministry will return the additional amount collected to PTT, which has been shouldering the import costs. Energy Policy and Planning Office directorgeneral Viraphol Jirapraditkul said the National Energy Policy Committee, chaired by the prime minister, would set the new contribution rate, which is now 30 satang a kilogram.

The fund now owes about Bt2 billion to PTT for the import of 131,800 tonnes of gas so far this year.

Viraphol insisted the Oil Fund still had a positive cash flow, with monthly revenue of Bt480 million, but is expected to register a negative performance on expectation of the additional burden.

The fund is obliged to pay Bt3 billion to oil retail¬ers, which sell gasohol and diesel at below actual prices. Viraphol said the fund was making several payments for that and not a lump sum.

An Energy Ministry source said the executive committee on energy policy would convene today, with permanent secretary Pornchai Rujiprapha as acting chairman on behalf of minister Poonpirom Liptapanlop, who is abroad.

The committee will propose adopting a 30satang acrosstheboard increase in the contribu¬tion from all fuel products to the Oil Fund in order to boost the fund's liquidity.

The fund now collects Bt3.45 a litre from 95octane petrol, Bt3 from 91octane petrol, Bt1 from diesel and 25 satang from 95octane gasohol.

At present, the fund subsidises 91octane gaso¬hol at 25 satang a litre, E20 gasohol at 30 satang and B5 biodiesel at Bt1.30. In a bid to raise fuel quality to Euro IV emission standards, the fund also pays 24 satang a litre to oil retailers that can offer an improved product by 2012.