NCPO applies control over projects, transactions of state enterprises

BANGKOK, 1 July 2014 (NNT) – The National Council for Peace and Order (NCPO) has declared that state enterprises will from now need to seek prior approval for any investment projects or financial transactions worth over 100 million baht.

In a bid to make sure that all projects and financial transactions of state enterprises are carried out in a transparent manner during this period, the NCPO has decided to limit the value of each project or transaction at 100 million baht. Should the value exceed the limit, the responsible agency must receive permission from the NCPO beforehand.

Meanwhile, as the chairman position in many state enterprises had become vacant, the NCPO also gave the incumbent vice chairman the authority to immediately assume the duty of acting chairman.

If there is more than one vice chairman, the executive committee would have to select the most appropriate candidate to take up the acting role. If there are no vice chairmen on duty, the committee members would need to choose among themselves.

The prompt appointment of an acting chairman is aimed to maintain continuity in the operation of each state enterprise as part of the NCPO’s policy to drive the country forward.


-- NNT 2014-07-01

Another positive move from NCPO, the position of Chairman has become vacant and if there is more that one applicant it will be on experience and most appropriate candidate , refreshing to hear , lately all you needed was to be a cousin, brother, sister, uncle , son-in-Law , great mate, etc etc.

Bump after being unpinned.

The main problem with the increased control may be a slowdown because of an extra 'check'. Soon the NCPO may need more people, or accept they can't check every small print some like to put in project and transaction descriptions.