Lawsuit filed to demand PTT return assets to state

BANGKOK, October 15 (TNA) - The Foundation for Consumers has asked the Administrative Court in Bangkok to order PTT Public Company Limited (PTT) to return assets to the state, based on its ruling in 2007. Representing the Foundation for Consumers, Rosana Tositrakul, filed the petition, supported by the signatures of 1,500 people, with the Administrative Court today to seek the court’s order for PTT to return remaining assets belonging to the state. In 2007, the Administrative Court ordered PTT to return gas pipelines worth 52 billion baht that the company took over when it was privatized from the previous Petroleum Authority of Thailand (PTT) and the right to use land for gas pipeline installation to the state. In response to the court's ruling, PTT returned 16 billion baht worth of the assets, but the Office of the Auditor General of Thailand has confirmed that PTT has not yet returned the remaining assets. It was reported that PTT has leased the gas pipelines and, thus, caused consumers to pay higher electricity fees. PTT, meanwhile, insisted that it has already followed the court’s order completely. (TNA)