The Director General of the Port Authority of Thailand PAT, Mr Mana Patram, recently announced a new formula that aims to overcome strong opposition from the PAT labour union to the whole privatization process. This new plan calls for the port authority to be privatized as PAT Corporation Public Company Limited PATC.
Previously, the preferred privatization formula involved setting up a holding company that would own shares in separate companies that were to have run the ports of Bangkok and Laem Chabang. Under this new proposed structure, these two ports are due to become business units of PATC. Simultaneously, a self-regulating organization, or SRO, will be established.
This SRO will continue...
