7 ailing state units given 45 days to submit rehab measures

Economy July 26, 2014 00:00

By Warin Trino
The Nation

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Sepo to pass on plans to superboard

The “superboard” supervising state-enterprise policy has asked up to seven financially ailing enterprises to submit rehabilitation plans within 45 days, superboard member Veerathai Santipraphob said. 
He said that according to the State Enterprise Policy Office, there were six or seven financially weak state enterprises. Once they submit their rehabilitation plans, Sepo will pass them on to the superboard for consideration.
The board is expected to complete the framework for state-enterprise reform within six months and will implement the reforms within one year. 
The objective of the reform is to enable state enterprises to stand on their own legs without burdening the government. 
Veerathai said the highest goal of the reform was not only to make the enterprises become profitable but to make them efficient so they provided public services at a reasonable operating cost. 
The government might have to inject cash into some enterprises to help them turn around.
He said the superboard would also revise the missions of state enterprises to make them relevant to present situations. Some enterprises were founded 40 years ago and their missions might be outdated.
The reform would also focus on preventing enterprises from making redundant investments while promoting their integration.
Veerathai said the enterprises would also have to improve their governance, including the disclosure of the details of investment decisions and executive appointments. 
The aim of this was to ensure transparency in their operations and to prevent corruption and political intervention.
In a related matter, Sepo has completed the guidelines for state enterprises to report to it investments, new project developments and other transactions exceeding Bt100 million, in line with a recent announcement by the military’s ruling National Council for Peace and Order. 
Sepo will forward the reports to the NCPO for its consideration.