State enterprises managed to take out 85% of their investment budget last year, up from 84% the previous year but below the target of 95%.
In terms of amount, 45 state enterprises doled out 378 billion baht in 2018, surging 35% from 280 billion a year earlier, said Prapas Kong-Ied, director-general of the State Enterprise Policy Office (Sepo).
Of the 378-billion-baht budget, 102 billion was drawn down in 2018 by 34 state enterprises whose accounting period is based on the fiscal year, with the remainder by 11 state enterprises whose accounting period uses the calendar year. The 34 state enterprises doled out 71% of their allotment from the budget in 2018, while the 11 took out 92%.
The investment budget was set at 445 billion baht for last year.
Big-ticket projects that achieved their budget disbursement plan in 2018 included the Provincial Electricity Authority's transmission system development phase 1, the Electricity Generating Authority of Thailand's (Egat) South Bangkok Power Plant Replacement phase 1, and PTT's transmission pipeline network phase 1 and 2, said deputy director Chanvit Nakburee.
For 2019, the total investment budget for state enterprises under Sepo supervision was set at 391 billion baht, with more than 95% disbursement.
He said the target is challenging, but Sepo will push to achieve the target.
Investment budget disbursement is a government tool used to drive economic growth and enhance competitiveness, as it is ramping up domestic demand to provide a buffer against the global economic growth slowing, weighed down by the trade dispute between the world's top two economies.
Sepo said earlier state enterprise revenue remittance amounted to 157 billion baht for the 2018 fiscal year, surpassing the target by 20 billion or 15%.
The top five state enterprises contributing the largest portion of revenue collection in the 2018 fiscal year were the Government Lottery Office at 40.8 billion baht, Egat at 20.7 billion, PTT Plc at 17.5 billion, Government Savings Bank at 17.3 billion, and the Provincial Electricity Authority at 11.7 billion.
