CAT to cradle the profits

Thailands postal service should be able to revers its annual losses of one billion baht and turn a profit within one year of being privatised said the countrys Communications Authority.
CAT President Dhirapong Suddhinond said the corporatisation plan was now 80% complete and barring any change, CAT Telecommunications Co Ltd and CAT Postal Co Ltd could be registered by May or June 2001. One of the first moves after privatisation would be to raise the local letter rate of 2 baht, one of the lowest in the world, to 3 baht said Somchai Reopanichkul, the CAT Senior executive vicepresident. Within one year the 50% rate increase in the local letter rate would give the company enough money to fund itself without any subsidies from the Finance Ministry.