SRT rehabilitation plan approved

For the SRT's rehabilitation, two wholly owned subsidiaries will be established within 30 days and begin operations within 180 days. One will operate the Airport Rail Link, while the other will seek the best deals for SRT assets, said Deputy Prime Minister Korbsak Sabhavasu.

The government will be responsible for investment in rail infrastructure and forging solutions to the SRT's mounting debts. Future revenue of the SRT and its subsidiaries will be used to repay the government for its financial assistance, he said.

With the SRT winning more private investment, the number of carriages will double within six years, as will the amount of cargo being transported. Passenger traffic will increase 25 per cent. Returns from assets will increase Bt11 billion in the next 10 years.

The SRT expects to clear all of its debts within a decade, Korbsak said.

The Cabinet yesterday instructed the Budget Bureau to allocate Bt560 million as working capital for Airport Rail Link operations. The train's trial runs have been postponed from August 12 to December 5, with full commercial operations scheduled to begin next March. Construction is 98-per-cent complete.

The framework for governing state enterprises includes moves to upgrade their good-governance practices to match the requirements imposed on listed companies. Supervising ministries and the State Enterprise Policy Office will be instructed to monitor the enterprises closely, in order to ensure better performance in terms of revenue and investment-budget disbursement, and oversee their investment projects.

Ministries will also be told to proceed more quickly in appointing chiefs for 11 state enterprises.

The Information and Communications Technology Ministry has also been ordered to find ways of solving legal disputes between TOT and private telecom operators and consider the best use of funds for TOT's third-generation network roll-out.

Meanwhile, CAT Telecom's new board yesterday ordered company management to draw up new business and risk-prevention plans and seek ways to end legal disputes with TOT and private telecom concessions.