The National Energy Policy Committee (NEPC) on Wednesday resolved to remove the 40-billion-baht cap on loans to support the Oil Fund in the wake of the Russian invasion of Ukraine.
Kulit Sombatsiri, permanent secretary for energy, said the decision will give the government more room to deal with soaring oil prices.
The decision reached in the NEPC meeting chaired by Prime Minister Prayut Chan-o-cha will be submitted for cabinet approval next week.
The government uses the Oil Fund to help manage energy prices, both oil and gas. The loan ceiling has been set at 40 billion baht to ease public burden.
The decision came as the government is feeling the heat from rising oil prices…
