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Article: SRT debts cleared in first stage of revamp: Land transferred to Treasury.
- Article from:
- Bangkok Post (Bangkok, Thailand)
- Article date:
- August 23, 2005
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Byline: Wichit Chantanusornsiri
Aug. 23--A restructuring plan for the State Railways of Thailand was formally approved yesterday, with a strong, accompanying recommendation that the state enterprise be privatised after it makes internal changes and manages to emerge from debt rehabilitation.
Transport Minister Pongsak Raktapongpaisal said that both the Finance and Transport ministries had formally signed off on a plan to overhaul the SRT's liabilities and accumulated losses.
The SRT has accumulated losses of 42.7 billion baht, and has consistently run at a loss for a number of reasons, including inefficiency, high cost burdens and government ...