Thai government may extend diesel oil tax exemption

BANGKOK, December 16 (TNA) - The Thai government is considering to extend a waiver on diesel oil excise tax collection, after it expires at the end of this year, in order to boost people’s purchasing power, in the wake of the country's flooding crisis over the past couple of months. Deputy Prime Minister Kittirat Na-Ranong, who is Commerce Minister concurrently, told reporters of the plan, saying an official decision is expected shortly. The deputy premier said that employees of flood-hit firms who have received only part of their salaries or wages could also lodge a complaint with the Labour Ministry. Meanwhile, Sombat Narawutthichai, Secretary-General of the Securities Analysts’ Association, acknowledged, citing a recent survey, that some 90 per cent of the total 198 companies listed with the Stock Exchange of Thailand (SET) with a combined assets of six trillion baht, being equivalent to 60 per cent of the country's gross domestic product (GDP), have been affected by this year's massive floods, as their production capacity has fallen by half. Sombat said that some 16 per cent of the flood-stricken listed firms had their earnings affected by more than 40 per cent in the last quarter of this year; while 55 per cent would see their earnings drop less than 20 per cent. According to the survey, some of the listed companies would resume their operations by the end of this year, but up to 85 per cent of them would resume their production in January 2012. (TNA)