Warning for ailing enterprises !!!

 

The State Enterprises Policy Commission or superboard yesterday
 gave a mandate for seven loss-ridden state enterprises including
 embattled Thai Airways International (THAI) to launch
 rehabilitation plans next month.

The superboard, which met yesterday and was chaired by

Prime Minister Prayut Chan-o-cha, will hold executives,

 management teams and staff of ailing state enterprises jointly

 responsible if their rehabilitation plans fail to get off the

ground by next March.

However, the meeting did not elaborate on what action

 would be taken against them.

 THAI yesterday submitted to the superboard its short-term

"quick win" plan to cut expenses by 3 billion baht in the

 fourth quarter. Ekniti Nitithanprapas, director-general of the

 State Enterprise Policy Office, said THAI needed to cut more

 unnecessary expenses and retain an appropriate number

of employees.

The national carrier had been instructed to propose the

 short-term plan to the superboard this month.

Finance Minister Apisak Tantivorawong said THAI's

rehabilitation plan looked good, but there could still be some

 problems in implementation.

Gen Prayut said THAI executives should tell its employees the

truth about the airline's current financial status and how all

staff should cooperate with management to execute the

rehabilitation plan and enable the carrier to stay afloat.

"All executives, management teams and employees should

 together take responsibility if the company fails to implement

 the rehabilitation plan," Gen Prayut told the meeting.

 He said the Finance and Transport ministries should also

reconsider a long-term plan for THAI after the short-term

 measures had been implemented.

The State Railway of Thailand (SRT) was also ordered to

 rev up preparation of its land development  plan for its

non-core business.

It must propose the plan to the superboard this month.

The SRT was told to earmark its plots in Bangkok to establish

a marketplace to raise proceeds.

The Transport, Interior and Finance ministries were ordered

 to work jointly on the SRT's business development plan.

 The meeting also ordered the Bangkok Mass Transit

Authority (BMTA) to propose a rehabilitation plan this

 month to increase revenue.

The BMTA was also told to speed up its plan to buy 489

 natural gas for vehicles (NGV)-compatible buses to cut

 operating costs.

 It was also told to revise its plan to buy another 3,000 NGV

 buses and instead focus on electric buses.

The Islamic Bank of Thailand was ordered to speed up seeking

new partnerships in order to improve its asset management,

while the Finance Ministry is committed to maintaining its

 stake in the bank. The superboard also acknowledged the

rehabilitation plans of TOT Plc and CAT Telecom but noted

 that the latter was very late in implementing its plan.

 However, it lauded the Small and Medium Enterprise

 Development Bank of Thailand for implementing its

 rehabilitation plan on schedule.


News,General,Bangkok Post , 10 November 2015.

 

I agree with the superboard that the rehabilitation plan should

implement  for all state enterprise because they are one of

main source of revenue for the government to spend in

develop the country to make GDPgrowth.

Hope all are doing well.

 

Sincerely Yours.