Thai government lets market mechanism to work

BANGKOK, March 17 (TNA) - Thai Prime Minister Yingluck Shinawatra announced Saturday that her government will allow oil prices to move in accordance with the market mechanism and will look for more energy sources, including alternative energy, to sustain national energy security in the long run. Speaking during her live weekly address at Baan Pitsanulok in Bangkok, the official residence of the Thai prime minister, Yingluck told the public that her administration will not freeze fuel prices so that they will not distort the market mechanism. The prime minister conceded that Thailand needs to look for more alternative energy sources for domestic consumption in the future, saying that she believes, however, that rising global oil prices should continue only in the short-term. According to the Pheu Thai premier, her government's spending will become active in the second and third quarters of this year, when the country's daily minimum wages will also be raised to 300 baht in first seven provinces, including Bangkok, starting from April 1, which should boost both the national economy and purchasing power of low income earners. (TNA)