Thailand tries to keep costs in check amid food, energy price hike

8 months ago 69

Thai authorities have been trying to contain the price hike of necessities and goods, especially fresh meat and food, amid efforts to alleviate people's cost of living.

Prime Minister Prayut Chan-o-cha has ordered relevant authorities such as the Ministry of Commerce and Ministry of Energy to hold talks with consumer goods producers on price freeze, according to government spokesperson Thanakorn Wangboonkongchana.

The Commerce Ministry has talked with the Thai President Foods Public Company Ltd., the country's leading instant noodle manufacturer, and asked for its cooperation not to raise prices, Xinhua news agency quoted Thanakorn as saying.

He attributed the price hike of consumer goods to the rising gasoline price in the global market, which has led to higher manufacturing and transport costs.

The Ministry of Energy has decided to extend its cap on liquefied petroleum gas (LPG) for another two months or until the end of March, Thanakorn said.

The government is also in talks with the country's oil and gas company to offer discount on LPG price for small shops and food street vendors as well as to maintain the retail price of natural gas for vehicles, the main fuel for the country's taxis.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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