Thai government plans privatization of state banks

BANGKOK, September 7 (TNA) - The Thai government, through the Ministry of Finance, plans to privatize state-run banks to ease its financial burden. The Fiscal Policy Office (FPO), under the Ministry of Finance, has submitted the privatisation plan to Deputy Prime Minister and Finance Minister Kittirat Na-Ranong for further consideration. The proposed plan includes the setting up of a regulatory board, headed by the finance minister, to ensure clarity in each bank's operational direction. Based on the proposed plan, business operations of Thailand's state privatized banks must not compete with those of private banks, but they are required to focus on serving small client groups. (TNA)