Prayuth orders revision of fuel price revamp plan to make it clearer for the general public

Economy July 26, 2014 00:00

By Watcharapong Thongrung
The Na

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The National Council for Peace and Order has asked the Energy Ministry to revise a plan for restructuring fuel prices, providing more details to make it easier for the public to understand.

NCPO deputy head Air Chief Marshal Prajin Juntong said he had forwarded the original plan to junta chief General Prayuth Chan-ocha. However, Prayuth sent it back, complaining that it lacked clear details of why price restructuring was necessary. 
Prajin added that the price restructuring could not be completed this month as consumers needed to understand the changes, which will affect retail prices, taxes and the Oil Fund. 
Public hearings on the plan are scheduled for next month. Then the plan will be forwarded to Prayuth again. The timing of the final announcement on the price restructuring has not yet been determined.
Prajin said the plan covered prices for all types of fuel including liquefied petroleum gas (LPG) and natural gas for vehicles (NGV).
This restructuring would lead to changes of retail prices, excise taxes and the Oil Fund, and several issues need to be explained to the public, he said, including taking revenue from petrol sales to subsidise LPG prices. 
In a related development, the 21st round of petroleum concessions will be discussed by the National Reform Council that is to be set up under the interim constitution.
Areepong Bhoocha-oom, permanent secretary of the Energy Ministry, said it would provide information to the public next month on three plans, all of which will run from 2015 to 2035. They are the new power development plan (PDP), the energy conservation plan, and the plan governing development of alternative and renewable energy.