By Reuters and published by CNA
THE cabinet today (August 16) approved a law to guarantee up to 150 billion baht in loans for the state oil fund to support energy prices as the government fights inflation, according to a government source and local media reports.
The measure still has to be examined by the Council of State, a government office that vets laws, the source said, before final sign off from parliament.
The Oil Fuel Fund Office was about 117 billion baht in the red as of August 14, as Thailand used it to support subsidies and manage oil prices in a bid to slow inflation hovering around 14-year highs in July.
A view of Bangkok’s port along Chao Phraya River is photographed during sunset on July 19, 2022. Photo: Reuters/Athit Perawongmetha and published by CNA