Prayuth unveils strategy as state enterprises come under scrutiny

Economy August 15, 2014 01:00

By Sucheera Pinijparakarn
The Na

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General Prayuth Chan-ocha, chief of the ruling National Council for Peace and Order (NCPO), said yesterday that state enterprises would be grouped to allow those making profits to lend more support to other tasks while those with low income or suffering l

State enterprises are vital and they must be committed to providing services to the people and stakeholders, Prayuth said while chairing the second meeting of the State Enterprise Policy Commission (Superboard) yesterday.

“In a changing world situation, providing services to people needs to be updated, particularly keeping in mind the Asean Economic Community, which will take shape late next year,” he said, adding this is to have connectivity of logistics, utilities and all development plans.

“People across the country are watching us and I hope everyone will follow my intention and policy, and work for the success of all state enterprises,” Prayuth said.

The Superboard was set up by the NCPO to oversee all state enterprises.

Kasikornbank chairman and CEO Banthoon Lamsam, who is a Superboard member, said the State Enterprise Policy Commission would focus on two things – service efficiency and spending transparency.

“The first thing all need to know is the objectives of each state enterprise. In practice, they can’t do what is in opposition to their objectives,” Banthoon said.

He noted that the duty of all state enterprises is to serve the public, but that in turn leads to low profits or even losses in some cases. In other cases, some “invisible hands” are at play, to draw money from the state enterprises. 
He said Thai Airways International would be among the first state enterprises to dominate discussions by the Superboard, due to its huge debt burden. In addition, the Superboard should discuss if specialised financial institutions under the Finance Ministry’s supervision are operating in accordance with their objectives.