She said this move was in line with the State Enterprise Policy Office (Sepo)’s instruction that all state enterprises revisit their short-term investment plan and present it to the office next month.

Besides, the Finance Ministry has also instructed state enterprises to cut down on their expenses to maintain liquidity, she added.

According to Arawadee, PTT has drawn up several scenarios to deal with risks from the outbreak, including one in which the global economy recovers as early as July. The worst case scenario is that the outbreak is completely contained by early next year.

She said PTT’s revised investment plan to be presented to Sepo will be under the scenario of a quick global recovery, which is possible given the easing of lockdown measures in many countries and progress in the development of a vaccine.

Quick recovery will lead to an increase in the demand for oil and petrochemical products, which will benefit PTT businesses in the second half of the year.