Commerce Minister Phumtham Wechayachai is scheduled to hold discussions with major business operators, shopping malls, and exporters next week on the subject of guidelines pertaining to the reduction of product prices, insisting draft guidelines should be finalised by early next month.
Mr Phumtham said ministry officials are quickly analysing the cost structure of 20 essential consumer products to determine which prices should be reduced.
"In reducing consumer expenses, it is also important to ensure fairness to all parties involved so as to not create new problems. At the moment, it remains impossible to provide an immediate answer regarding which products will see price reductions because a balance must be struck, aligning with the government's intention to reduce people's expenses and increase their income," he said.
Mr Phumtham said over the past week, discussions have been held with small business owners and rice mill operators to assess the rice price situation, while in the coming week the ministry is scheduled to hold discussions with large retail operators, exporters, and leading product manufacturers to gather clear information before formulating a plan to reduce prices early next month.
Regarding the pricing of prepared foods sold within food courts at shopping centres, which will directly benefit from the reduction in electricity costs, Mr Phumtham said the ministry has to ask for cooperation from shopping centre operators to help determine which prices can be reduced, as it is not solely dependent on electricity costs.
In a related development, given the job assignments within the Commerce Ministry, Mr Phumtham said he would oversee the Internal Trade Department, International Trade Promotion Department, Foreign Trade Department, Public Warehouse Organization and the Sustainable Arts and Crafts Institute of Thailand (a public organisation).
In the meantime, Deputy Commerce Minister Napintorn Srisunpang will be responsible for the Business Development Department, Trade Negotiations Department, Intellectual Property Department, the Gem and Jewelry Institute of Thailand (a public organisation), and the International Institute for Trade and Development.