Poll: Plan to privatise PTT opposed

Published: 27/01/2012 at 02:32 PM
Online news: Economics

A total of 77.0 per cent of people polled recently disagreed with the government’s plan to sell part of its stake in state enterprise PTT Plc to the Vayupak Fund, to make it a private company, according to survey results released by Bangkok Poll on Friday.

Only 23 per cent of the respondents supported the plan, Bangkok Poll said.

The pollsters conducted a survey on the plan to privatise the country largest oil conglomerate, asking for opinions from 1,160 people in Bangkok and nearby provinces. It did not give details on when the poll was carried out.

Asked whether they thought the PTT privatisation plan had hidden a political agenda, 51.7 per cent of the respondents said they believed so, 8.8 per cent of them said no, and 39.5 per cent were unsure.

Asked what they were concerned abut most if PTT becaomes a private sector company, 44.1 per cent of the respondents said they feared the people would have to shoulder higher energy costs in the future, 19.6 per cent were worried that it would pave way for capitalists to take advantage of PTT as it will then have to look for the highest profit to benefit shareholders, 11.6 per cent were concerned about vested interest.

When asked to compare the advantage and disadvantage of PTT’s privatisation, 66.8 per cent of the respondents believed it would have a negative impact to the general public, because prices of fuel and natural gas might rise.

Only 9.2 per cent of them said it would be good for the people as prices of fuel and gas might be cheaper, 24.0 per cent believed there would be no effect because energy prices rely on the world market mechanism.

On the question about what kind of company PTT should be, 62.6 per cent said a state enterprise because the government can control it, like at this time, 28.0 per cent wanted the government to take it back and for it to be solely owned by the state, and 9.4 per cent said it should be a private firm.

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johninbkk
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Discussion 5 : 27/01/2012 at 04:38 PM5
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bangmodken D1 - FYI, the reason PTP wants to sell ~2% of PTT is to hide the massive debt PTT has accumulated. It's not even remotely profitable, using tax payer subsidies to keep it afloat.
khunbj
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Discussion 4 : 27/01/2012 at 02:13 PM4
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If that is really what people want then apparently they would love to live in socialist country ... maybe some advisors from Cuba and North Korea can help ;-)
johninbkk
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Discussion 3 : 27/01/2012 at 01:54 PM3
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In the US, enterprises like these are privatized. However, given the inherent lack of competition, the government still has strong legal regulatory powers over the enterprise. Monopolies are broken up.

PTT is currently a monopoly, so prices will naturally tend ~20% above market price. If PTT was broken up into multiple companies, so as to avoid a monopoly, then perhaps prices would tend closer to market price.

To be run as a government entity invites loses from inefficiency and corruption. To be a private enterprise invites loses in the form of profits to shareholders. There is no perfect solution.
somchai
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Discussion 2 : 27/01/2012 at 01:05 PM2
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That must be the same 23% opposing a military coup.
bangmodken
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Discussion 1 : 27/01/2012 at 01:03 PM1
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A government which wants to sell profitable state owned companies should be kicked out. If anything,they should sell off non-profitable state owned companies to save/earn the tax-payers some relief.

Poll: Plan to privatise PTT opposed | Bangkok Post: breakingnews