The Thai government’s cabinet has approved the privatisation of the Electricity Generating Authority of Thailand (EGAT) the country’s largest utility company. This follows on from last year’s massive protests by union members at the idea of privatisation, which delayed the process for 12 months.
EGAT will be set up as a public company, with 25% of its shares being offered to the public. The government will hold the remaining 75%. Staff concerns have been satisfactorily addressed, and all employees with the former EGAT will be transferred to the new entity with the same salary and benefits.