The State Railway of Thailand took control of the Chatuchak Weekend Market yesterday Jan. 2, ending 25 years of management by the Bangkok Metropolitan Authority.
The two government bureaucracies had been dueling over control of the world-famous and ultra-lucrative tourist attraction for the past few weeks.
The State Railway of Thailand (SRT) owns the land on which Chatuchak Market operates, but the Bangkok Metropolitan Authority (BMA) signed a lease 25 years ago to run the market and has since built it up into the success that it is today. The lease ended on Jan 2.
Thailand’s cabinet ruled on Dec. 27 that the SRT, as rightful owner of the land, could take back control of the market, despite protests from the BMA.
The BMA had ben paying THB24 million per year to operate the market, but reportedly making significantly more in profits. According to the Bangkok Post, SRT governor Yutthana Thapcharoen said that a hired consulting firm estimated the market could generate THB1.1 billion a year.
Most of the roughly 10,000 vendors at Chatuchak are reportedly against the SRT takeover.
“About 90% of vendors in want the BMA to continue running this market because they don’t want to risk losing their contracts,” Sumontha Plangsirisunthon, vice chairwoman of the Association of Chatuchak Market Business Operators told the Bangkok Post. She added that many were worried they would lose their stalls to SRT cronies.
The SRT’s track record is shaky at best – the debt-laden government agency is best know for its poor handling and development of the much hated Airport City Link line. It is said to be looking into hiring outsiders and creating a separate company and to run Chatuchak as the agency has little experience with markets.
Some vendors at Chatuchak protested over the Dec. 27 cabinet ruling and there are fears of violence. Last year in similar situation, the SRT took over control of the nearby Sunday Market and armed men burned down stalls in protest.
