Plans to privatize the Thai state generating company, the Electricity Generating Authority of Thailand (EGAT), have run into opposition from the company’s workers. Opposition was voiced after the Thai cabinet decided to replace EGAT’s existing board of directors without consultation with the company’s executives or workers union, Reuters reports.
This move has been interpreted by EGAT’s workers’ association as an effort to pave the way for an amenable board which will speed privatization. EGAT employees, who fear the company will be split up and sold to foreign investors with a resulting loss of jobs, plan to protest against the move.
Thailand has promised the International Monetary Fund that it will accelerate its privatization programme as part of the price for a $17.2 billion financial package. EGAT is one of a number of organizations due to be privatized. Others include Thai Airways and Bangchak Petroleum Co.