Finance Minister Apisak Tantivorawong said a draft of the bill had been forwarded to the Council of State for consideration.

The main aim of the bill is to ensure that public services are delivered efficiently and add value to Thailand’s assets. Operations of state enterprises will be enhanced to international standards with transparency and governance while preventing political interference.

“This state-enterprise reform will play a key role for quality development of public services and drive Thailand’s economy and investment towards sustainability,” Apisak said.

Ekniti Nitithanprapas, director-general of the State Enterprise Policy Office (SEPO), said the bill would call for establishment of a policy committee to allow all state enterprises to work together with efficiency.

The committee will be chaired by the prime minister.

Also according to the draft, a five-year strategic plan will be formulated to bring state-enterprise development in line with the National Economic and Social Development Plan.

Mechanisms for transparency, information disclosure and people’s participation in monitoring state enterprises’ efficiency will be ensured.

Other aspects of the bill include a transparent and standardised selection process for state-enterprise committee members, development of an efficient assessment system for operational plans and policies, and the setting up of a national corporation as the owner of state enterprises.

Ekniti said the corporation would be a state unit, not a state agency, and would be wholly owned by the Finance Ministry. The corporation will hold stakes in 12 state enterprises: PTT, Thai Airways International, Airports of Thailand, MCOT, Krungthai Bank, TOT, CAT Telecom, The Transport Co, Thailand Post, Dhanarak Asset Development, Bangkok Dock, and the Syndicate of Thai Hotels and Tourist Enterprises.

The corporation will deliver policy to the state enterprises in which it holds stakes.

After the State Council has considered the bill, the National Legislative Assembly is expected to put it into force next year.

Ekniti insisted that the bill aimed to set foundations for state-enterprise reform, not a privatisation. The key is to have transparent and efficient management of state enterprises, while lessening political interference.