According to the National Anti-Corruption Commission (NACC), companies failing to abide by these new rules will be blacklisted and not allowed to participate in any future project biddings.
They have until the end of this month to disclose their revenue and expense accounts of project worth more than 2 million baht which they are contractual with government agencies.
Failure to do so, the NACC will announce their names and they will appear on its blacklist next month.
The NACC now as a list of as many as 1,000 companies which entered contracts with government agencies, and they have over 70,000 revenue and expense accounts of projects still not not declared under the regulation.
Some of these companies hold as many 50-60 contracts with the government.
The blacklisting is one of the anti-corruption measures that the NACC is keen to enforce to prevent graft between government agencies and their private contractual partner.
The anti-corruption regulation requires companies which enter into contract worth more than 2 million baht with the government to disclose revenue and expense accounts of the project to the Comptroller General Department, the Revenue Department and the NACC for examination.
The NACC will notify companies within 15-30 days if they fail to disclose this information.
This will allow the state agencies to check on how companies spend their budget on the project.
If the NACC finds any irregularity in the project, it can also blacklist the company. Blacklisted companies will be banned from acquiring any procurement contract with the government forever.
The list of blacklisted companies will be published on the NACC’s website.
Head of a state agency which continues to do business with these companies will be subject to disciplinary action and criminal charge.
NACC deputy secretary-general Chairat Khanittabuth said once the national budget is disbursed, the NACC wants to check how these companies spend the money on the project.
“If we found any of their expense to be unusually high, we would look into it and see whether it involves any bribery, ” he said.
According to the NACC, most of irregularities are found in projects associated with local government agencies, with more than 80 percent of the projects concerning procurement and construction.
It is estimated that 20-30 percent of the government’s annual investment budget is lost to corruption and this proactive anti-corruption measure could save the country 140-210 billion baht each year.