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Article: SRT getting B37bn to help reduce losses.
- Article from:
- Bangkok Post (Bangkok, Thailand)
- Article date:
- August 8, 2006
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Aug. 8--The Finance Ministry will give the State Railway of Thailand (SRT) 37 billion baht to help it reduce 90 billion baht worth of losses, according to Chaiyos Sasomsap, the caretaker deputy minister.
Of the state enterprise's total losses, operations accounted for 40 billion baht and staff pensions the rest. Mr Chaiyos said operating costs had included rail network construction, for which the ministry was responsible.
However, the SRT has rejected a ministry proposal to swap some of its land for funds to offset losses. "The SRT has insisted it wants to develop its land bank and resolve the debt on its own," he said.
The ministry is working ...