Pattaya Daily News

06 February 2012 :: 15:02:30 pm 61871

PTT shares sale benefits certain political groups

BANGKOK, 6 February 2012 - The Democrat party has held a seminar, examining the sale of the PTT Plc shares to the state-run Vayupak Fund.
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The Democrat Party and a senator have voiced concerns that the sale could benefit certain political groups.

According to Deputy Democrat Leader Apirak Kosayothin, the reason why the party held this seminar was that many people are opposed to the government’s move to shift another 2% of the Finance Ministry’s shares in PTT to Vayupak Fund, which, he believed would affect energy prices and people’s living standards, adding that it was driven by a political agenda.

Meanwhile, energy expert Manoon Siriwan says after the shift, the Finance Ministry could still control the enterprise as it will remain a major shareholder. However, he is concerned that the Vayupak Funds is about to expire in 2013 and, after which time, will have to be listed in the stock market; the government must limit the share sales so that the Ministry can maintain the same amount of shares as before. He believes that the PTT could then be able to work more comfortably as it will not need Cabinet’s approval.

Bangkok senator Rosana Tositrakul, in the meantime, said the sale of only 2% of the share would not help reduce the government’s debt burden. The Ministry is looking to reduce its holding to 49% from the current 51%. But Ms Rosana believes this is tantamount to a privatization, which will result in politicians buying the shares for their own benefits.

Report by : NNT

Photo : Internet   Category : Politics News

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