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3 April, 2006
A decision on 23 March by Thailand’s Supreme Administrative Court to nullify two 2005 royal decrees calling for partial privatisation of the Electricity Generating Authority of Thailand (EGAT) was heralded by ICEM affiliate EGAT-LU as a national turning point against the corrupt practices of Prime Minister Thaksin Shinawatra.
The country’s highest court ruled the process, which led to the Thaksin government float of 25% of EGAT on the Stock Exchange of Thailand, as lacking transparency in that public hearings were incomplete. The court also said that if the partial privatisation had gone ahead, unfair competitive advantages would have been created.
EGAT-LU Chairman Sirichai Mai-ngam said the union will now team up with consumer groups and others to roll back privatisations of the Metropolitan Electric Authority, the Metropolitan Waterworks Authority, the Provincial Electric Authority and the Provincial Waterworks.
The union has also called on EGAT’s board of directors to resign. They ask the same of Thaksin himself and of Energy Minister Viset Choopiban.
EGAT-LU is meeting with top managers of the state-run power company today. The union will seek refunds plus interest for the shares purchased by EGAT staff, reimbursement of taxes levied, and for directors and government officials to take responsibility for the millions in advisory fees paid in preparation for last November’s initial public offering.
“We are uncertain whether the next government will try to privatise EGAT,” said Mai-ngam. “However, we will continue to cooperate with civil groups in the fight to maintain the state enterprise status of the power utility.”