PTT to contribute 3 billion baht to oil fund
The board of directors of PTT Plc has approved a contribution of 3 billion baht to the special oil fund, which has been used to reduce the cost of the living burden on the public, PTT president and chief executive officer Auttapol Rerkpiboon said on Tuesday.
He said the PTT board resolved on Monday to contribute the money to provide urgent relief to the public as society has already been severely hit by the economic crisis caused by the Covid-19 pandemic.
The PTT would contribute Bt1 billion each month to the oil fund for three months to support the government’s subsidy on oil prices as well as support the government’s efforts to maintain energy stability, Auttapol said.
He added that since the country has been hit by an energy crisis since 2021, PTT has contributed over 14.8 billion baht to help the government provide subsidies to reduce the people’s energy costs.
Auttapol said PTT decided to help the government provide subsidies because PTT is a public company and a state firm that realises the impact of the energy crisis on the country’s economy and the people.
He said PTT has been helping vulnerable groups survive the energy crisis.
For example, it has been reducing the cost of LPG gas prices for low-income people, street food vendors and the poor who hold state welfare cards.
He said state welfare holders are eligible to buy cooking gas at lower prices since October last year until now.
He said PTT also maintained the current NGV prices for motorists and taxis in Bangkok and suburban provinces.
PTT has also provided crude oil to the Electricity Generating Authority of Thailand to help them lower the cost of generating power, Auttapol added.
He said PTT has also granted 1.046 billion baht to help members of society affected by the Covid-19 crisis, through its “Same Breathe” programme.
In total, PTT has spent 3.3 billion baht to help society via several measures from January to April this year, he added.
“PTT is ready to act as a key force in supporting all the sectors and helping and taking care of society and communities to help Thais survive the crises together as fast as possible,” Auttapol said.
