The Oil Fuel Fund is expected to finish negotiations with banks this month as it looks to borrow heavily to boost its liquidity, says the Finance Ministry’s deputy permanent secretary Theeraj Athanavanich.
Mr Theeraj said the fund is in talks with several commercial banks, including the state-run Government Savings Bank and Krungthai Bank, with regards to the borrowing. The negotiations are expected to be wrapped up this month.
The fund is in the red because of rising global oil prices. It needs to seek capital to boost its liquidity in case the price of oil increases further, and to deal with the expiration of the government’s diesel excise tax reduction on May…
