Lower energy prices top executive poll

Lower energy prices top executive poll

The government's policy to reduce energy prices was the most appealing to entrepreneurs polled on their favourite state measures and what should be New Year gifts for the manufacturing sector, according to the latest survey conducted by the Federation of Thai Industries (FTI).

Energy was among the first issues considered by the cabinet at its initial meeting on Sept 13, one day after Srettha Thavisin delivered his policy statement in parliament.

The policy to reduce power bills as well as diesel, gasohol and gasoline prices won the votes of 66.2% from 216 company executives in 45 industries under the FTI, said Montri Mahaplerkpong, vice-chairman of the federation.

Government efforts to draw foreign investment placed second with 49.5%, followed by a push for megaprojects (45.4%), including land bridge development to build a logistics network connecting Ranong on the Andaman Sea to Chumphon on the Gulf of Thailand, then measures to promote tourism such as the visa-free scheme (42.1%).

Mr Montri said most respondents preferred the energy price policy because it reduces operating costs for businesses and maintains their competitiveness.

Lower energy prices also helped households better deal with expenses as the economy slowly recovers, he said.

The power tariff, which is used to calculate electricity bills, was reduced to 3.99 baht a kilowatt-hour (unit) from 4.45 baht a unit.

The rate, which took effect between September and December, was set to increase to 4.68 baht a unit by the Energy Regulatory Commission in the first four months of next year, but the government wants to cap it between 4.1 and 4.2 baht a unit to ease the impact on the public.

Mr Montri said the pollster also asked executives which state policies they want to see as New Year gifts.

In addition to energy and economic stimulus issues on the wish list, more serious efforts to tackle corruption in the state sector attracted 69.9% of votes as a New Year gift.

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