Published on November 03, 2005

The hasty listing of state-owned Egat Plc on the stock market could very well work against the public and line the pockets of Prime Minister Thaksin Shinawatra and his family, opposition lawmakers said yesterday.

The opposition called for the establishment of ground rules to prevent vested interests from exploiting the deal.

“Egat’s vast network of electricity supply wires can be used as ready platforms for wireless telephone and high-speed Internet services. Picture a leap of wealth if one operator is allowed exclusive access to such platforms,” Democrat MP Kiat Sithiamorn said.

Kiat was referring to Shin Corp, the market leader in the telecommunication industry founded by Thaksin and owned by his family.

He urged the government to map out new regulations to ensure fair access to power grids for telecommunication links.

Democrat leader Abhisit Vejjajiva is today scheduled to petition the Securities and Exchange Commission to reexamine the planned listing of Egat.

The Nation

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