Finance Minister pushes recovery plans for 4 state enterprises

Finance Minister Pichai Chunhavajira is overseeing the acceleration of recovery plans for four state enterprises and has set a deadline for their reports to be submitted by May.

Following the first meeting of the state enterprise policy committee for 2025, chaired by the Finance Minister on Tuesday, a directive was issued to expedite the turnaround plans for four state enterprises: the State Railway of Thailand (SRT), Bangkok Mass Transit Authority (BMTA), National Telecom (NT), and the Mass Communication Organisation of Thailand (MCOT).

On Wednesday, Tibordee Wattanakul, director-general of the State Enterprise Policy Office (SEPO), stated that the committee has assigned the respective ministries and state enterprises to define appropriate business roles aligned with the current industrial landscape. 

Clear distinctions in revenue streams and cost restructuring for each business unit have been mandated, he explained.

The directive also emphasises the urgent implementation of key projects that generate strong returns and improve service quality, aiming for completion within set targets. This approach seeks to resolve operational and financial challenges sustainably over the long term, while enhancing service standards for customers and the public, in line with present-day contexts.Kittikan Chomdoung Charuworapolkul, director of BMTA, reported that the authority has submitted its recovery plan to the state enterprise policy committee, which responded positively. He added that with the expected allocation of new buses within this year, operational costs should decrease, benefiting overall performance.

Veeris Ammarapala, governor of SRT, revealed that the authority received policy guidelines from the committee to address existing debt issues. A follow-up report is due by May, and if the plan progresses well, it could herald a major transformation for the railway.



Additionally, the committee reviewed performance reports for 52 state enterprises under their 2024 annual action plans. This monitoring focuses on the success of key projects and investments that support Thailand’s 13th National Economic and Social Development Plan and the National Strategy, as well as government policies.

For projects and investments that have not yet met targets, the committee tasked the relevant ministries and enterprises to closely supervise progress. They emphasised the importance of evaluating outcomes and broader benefits beyond merely assessing project implementation success.Meanwhile, the committee approved a draft announcement on good governance in state enterprises. This aims to modernise governance frameworks to meet standards equivalent to those of the Organisation for Economic Co-operation and Development (OECD), supporting Thailand’s aspirations to join the OECD.

(2025/05/21-00:00)