BANGKOK (The Nation/Asia News Network): The Cabinet on Tuesday (Nov 30) agreed to provide subsidies of 2.28 billion baht to the Bangkok Mass Transit Organisation (BMTA) and 3.38 billion baht to the State Railway of Thailand (SRT).
These funds are being allocated to compensate for losses incurred by BMTA and SRT as well as to boost their liquidity.
The Cabinet has also instructed the two organisations to seek ways of reducing their reliance on subsidies, boosting revenue and reducing costs.
BMTA said it will expedite the preparation of a business rehabilitation plan that is in line with plans to reform the public bus system in Greater Bangkok.
The SRT, meanwhile, has been instructed to come up with a business recovery plan, especially to earn additional income from the transfer of assets.