The Minister of Finance Mr Bounchom Ubonpaseuth (fifth from left) and other officials pose for a group photo at the event for the announcement of the reform committee.                                                               --Photo Lao Phattana News’ Facebook page.

Govt creates body to reform Lao Airlines

The government has set up a committee to carry out business reforms in the state-owned Lao Airlines to ensure that the national flag carrier becomes self-sustained in financial management.
The proposed reforms are also aimed at ensuring that the state enterprise becomes more profitable and professional in its business operations.
Nine officials from different ministries and the independent sector have been assigned to the reform committee, and the Deputy Minister of Finance, Dr Phouthanouphet Xaysombath, has been appointed as its Chairman.
The ceremony to announce the appointment of the committee was held recently in Vientiane. The Minister of Finance, Mr Bounchom Ubonpaseuth, and senior ministry officials attended the event.
Mr Bounchom told the gathering the committee was set to act as a reform body, and the Board of Management of the Lao Airlines will continue seeking ways to implement the roadmap for the state-owned enterprise.
He said the committee will clarify its role and duties to consulting companies in order to create the structure for all plans for reforms.
The proposed reforms of the organisational structure of the Lao Airlines will cover the structure for finance and accounting, business operation plans, the structure of personnel and various other components.
“The newly assigned committee will work on forming a strategic plan for business reforms, the roadmap for business operations and the budget plan to be proposed to the Ministry of Finance and the government for further consideration and approval,” he said.
The minister advised the reform body to give priority to enterprise reforms in order to make Lao Airlines independent and self-sustained in terms of its budget, and to recruiting more professional staff to help implement operational plans and other reform measures.
Lao Airlines is one of the five state-funded enterprises that have been listed for reforms and the move was approved by the National Assembly (NA) at a recent meeting as part of the government’s efforts to support the national agenda for tackling economic and financial difficulties.
The reform of government-funded enterprises is aimed at making them self-sustained in finance, erasing mismanagement that causes chronic losses among state enterprises and avoiding additional debts for these enterprises.

By Times Reporters
(Latest Update August 23, 2022)