Strong opposition to PTT's privatisation
- Published: 27/01/2012 at 05:13 PM
- Online news: News
The PTT labour union will send a letter asking the finanace minister to reconsider the PTT privatisation plan, as a survey shows at least half the people believe there's probably a hidden political agenda in the government's decision.
Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong (Photo by Patipat Janthong)
Representatives of the PTT labour union and State Enterprises Labour Confederation of Thailand will next week submit a letter expressing opposition to the plan to privatise PTT Plc to Finance Minister Kittiratt Na-Ranong, PTT union chairwoman Absorn Krisanasamith said pn Friday.
Ms Absorn said her organisation disagreed with the plan to privatise state enterprises PTT and Thai Airways International Plc because it would affect the general public.
National oil conglomerate PTT should not be made a private-sector company as it is a state enterprise used for overseeing the country's energy system, which is also related to national security, she added.
The majority of PTT employees opposed the government’s plan to sell part of its stake in PTT Plc to the Vayupak Fund, lowering its holding to less than 50 per cent to make it a private-sector company, Ms Absorn said.
The government says the move is necessary to lower its public debt account and make it easier to raise loans for flood management and other mega projects.
Critics argue it's just a book-keeping sleight of hand.
Meanwhile, survey results released by Bangkok Poll said a total of 77.0 per cent of people polled recently disagreed with the government's plan to sell part of its stake in PTT to the Vayupak Fund, to make it a private company.
Only 23 per cent of the respondents supported the plan, Bangkok Poll said.
Photo REUTERS
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. The poll was carried out between Jan 24 and 26, 2012.
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 about most if PTT becomes a private sector company, 44.1 per cent of the polled 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 advantages and disadvantages 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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- Writer: Online Reporters
- Position: Online Reporters
