Thai Finance Minister Predee submits resignation

[snoop1130]

Thai Finance Minister Predee submits resignation

 

FILE PHOTO: Thailand's Finance Minister Predee Daochai attends a family photo session with new cabinet ministers at the Government House in Bangkok, Thailand August 13, 2020. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's recently appointed Finance Minister Predee Daochai has submitted his resignation, but the prime minister has not yet accepted it, four government sources said on Tuesday.

 

News of his resignation sent the benchmark index down as much as 0.9% before it recovered somewhat.

 

The banking veteran took office last month in a major economic team shake-up as Thailand seeks to mitigate the damage from the coronavirus pandemic that has devastated its crucial tourism industry.

 

"The minister wanted to resign but it's unclear if the prime minister will allow him to," said a finance ministry source, who requested anonymity because he was not authorised to speak to media.

 

It was not immediately clear why Predee resigned. Thai media said he wanted to quit due to health reasons.

 

A government spokesman said an announcement would be made later in response to media reports of the resignation.

 

Southeast Asia's second-largest economy could shrink 8.1%this year, the biggest contraction on record, according to the central bank.

 

Predee has been in office just 26 days. His appointment was formally approved on Aug 6.

 

Predee, 61, was co-president Kasikorn Bank <KBANK.BK> before leaving the lender to join the cabinet.

 

Though Thailand has so far reported only 3,417 coronavirus infections and 58 deaths from COVID-19 and has lifted most restrictions, its economy has been hit badly, in particular its tourism sector.

 

Thailand is forecast to record less than a fifth of last year's record 39.8 million visitors, whose spending made up about 11.4% of GDP.

 

-- © Copyright Reuters 2020-09-01

 

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[rkidlad]

5 minutes ago, snoop1130 said:

"The minister wanted to resign but it's unclear if the prime minister will allow him to," said a finance ministry source

How utterly embarrassing for the regime. 

 

Guess the minster looked at the numbers so maybe he really is having health problems. 

[2 is 1]

I first read fiancee Minister, think he want be kathoye. Anyway kathoye count better!

[BritManToo]

There are positions in the government nobody really wants.

Health, tourism and finance .............. can't imagine why!

[Mavideol]

15 minutes ago, snoop1130 said:

Predee has been in office just 26 days. His appointment was formally approved on Aug 6.

smart man (sarcasm), better leave before sxxt hit the fan

[YetAnother]

18 minutes ago, snoop1130 said:

but it's unclear if the prime minister will allow him to

radical stupidity; guy doesnt want the job and you force him to do it ?! that is conscription

[david555]

1 minute ago, Mavideol said:

smart man (sarcasm), better leave before sxxt hit the fan

and a sudden from 37.02 this morning to now 18'20 just 37.22 Thai baht for a €  …...nervous maybe ?

[david555]

5 minutes ago, Mavideol said:

smart man (sarcasm), better leave before sxxt hit the fan

Normal…. , as this man came from a commercial bank  ,( Kasikorn) ,... heaven only knows what he saw in the Gov. financial books ????

[Enoon]

30 minutes ago, YetAnother said:

radical stupidity; guy doesnt want the job and you force him to do it ?! that is conscription

At the moment "it's unclear".

 

Possibly only a tactical manoeuvre.

 

Maybe the minister is trying to force approval of an as yet, publicly, undisclosed policy/scheme/intiative?

 

Or just trying to get a raise?

 

 

[steven100]

58 minutes ago, snoop1130 said:

Predee Daochai has submitted his resignation

good job ....  bye 

[steven100]

I bet london to a brick on that Khun Prayut told him to go.

[ThailandRyan]

1 hour ago, snoop1130 said:

"The minister wanted to resign but it's unclear if the prime minister will allow him to," said a finance ministry sourc

So tell me just how the PM can keep him in his job. A bigger bribe, bigger than probably promised to leave the Banking industry.

[rkidlad]

5 minutes ago, steven100 said:

I bet london to a brick on that Khun Prayut told him to go.

Yes, He tried so hard to get him in that he thought it would be a great idea to utterly embarrass himself by having him quit. It's idiotic so it's plausible when it comes to Prayut.

[steven100]

3 minutes ago, rkidlad said:

Yes, He tried so hard to get him in that he thought it would be a great idea to utterly embarrass himself by having him quit. It's idiotic so it's plausible when it comes to Prayut.

nonsense ....  as I said before ,  Khun Prayut Chan O Cha is possibly the second highest person of statue authoritarian within the Kingdom of Thailand ....  he will make a decision based on his knowledge and what is best for Thailand. He is the leader, he is at the top whether farang like it or not. lol    

PS.maybe Thailand is not the place for you.

 

[rkidlad]

19 minutes ago, steven100 said:

nonsense ....  as I said before ,  Khun Prayut Chan O Cha is possibly the second highest person of statue authoritarian within the Kingdom of Thailand ....  he will make a decision based on his knowledge and what is best for Thailand. He is the leader, he is at the top whether farang like it or not. lol    

PS.maybe Thailand is not the place for you.

 

If working hard to find a new finance minster only to have him quit is what's best for Thailand, I suggest you, much like Prayut, have no idea what's best for Thailand. That's not just a gross misuse of tax payer's money, it's completely moronic and makes zero sense. 

 

Not sure what you mean by "second highest person of statue authoritarian'. It's that authoritarian attitude that will more than likely end up costing the country 750 million dollars because he closed down that Kingsgate mine. Absolute sheer ignorance and stupidity. 

 

 

[billd766]

37 minutes ago, steven100 said:

good job ....  bye 

He probably has more financial experience in one finger than Prayuth has in his whole body. If he wants to quit he has most probably seen some of the books and has realised that somebody is going to be the patsy, and it isn't going to be him. 

 

He resigned and it is public knowledge now.

 

How can the PM NOT accept it? If Prayuth refuses to accept it, how will he make sure that Predee stays. If the guy refuses to do the job what can Prayuth do about it? Fire him? But he has already resigned.

 

He is probably one of the few experienced Thai people capable of doing the job properly.

28 minutes ago, steven100 said:

nonsense ....  as I said before ,  Khun Prayut Chan O Cha is possibly the second highest person of statue authoritarian within the Kingdom of Thailand ....  he will make a decision based on his knowledge and what is best for Thailand. He is the leader, he is at the top whether farang like it or not. lol    

PS.maybe Thailand is not the place for you.

 

 And Prayuth knows very little about finance or running the country for that matter.

[ThailandRyan]

I am beginning to think that maybe just maybe Steven100 is really Kuhn Prayut here on TV to talk himself up. Well just maybe.

[86Tiger]

This guy figured out what the other guys knew.....

[ThailandRyan]

1 minute ago, 86Tiger said:

This guy figured out what the other guys knew.....

Yes, and then decided to flee the ship before the whole kettle boiled over.  I am starting to really think that there may be more internal struggles going on and with 2 specific Army regiments now tied to someone at the high end, its the only way to ensure another Coup does not occur or if one does, it will be just plain old ugly.

[steven100]

2 minutes ago, billd766 said:

He probably has more financial experience in one finger than Prayuth has in his whole body. If he wants to quit he has most probably seen some of the books and has realised that somebody is going to be the patsy, and it isn't going to be him. 

 

He resigned and it is public knowledge now.

 

How can the PM NOT accept it? If Prayuth refuses to accept it, how will he make sure that Predee stays. If the guy refuses to do the job what can Prayuth do about it? Fire him? But he has already resigned.

 

He is probably one of the few experienced Thai people capable of doing the job properly.

 And Prayuth knows very little about finance or running the country for that matter.

oh dear ....  so your obviously more experienced ...   well, I would never have guessed   !

[steven100]

Just now, ThailandRyan said:

Yes, and then decided to flee the ship before the whole kettle boiled over.  I am starting to really think that there may be more internal struggles going on and with 2 specific Army regiments now tied to someone at the high end, its the only way to ensure another Coup does not occur or if one does, it will be just plain old ugly.

i've heard this song 100 times .... lol      i still get a laugh

[anchadian]

Jonathan Head

 

@pakhead

·

This is a real blow to a Thai government reeling from student-led protests and the economic devastation caused by Covid-19

Edited September 1, 2020 by anchadian

[rumak]

1 hour ago, snoop1130 said:

Thailand is forecast to record less than a fifth of last year's record 39.8 million visitors, whose spending made up about 11.4% of GDP.

There is a huge meeting scheduled,   at least a thousand politicians and academics planning a three day session to try to figure this out .

"Why , since we don't allow any "visitors" in...... are our tourist numbers so low ? "

 

mai ru    mai ru

[ThailandRyan]

11 minutes ago, steven100 said:

i've heard this song 100 times .... lol      i still get a laugh

Kuhn Prayut talking through his puppet Steven100 again, Just like Pinocchio who wants to be a real boy, but Prayut will never be, for he took something that was not his, and then forced himself again on the people, much like Ron Jeremy in another thread. Maybe just maybe the new, now to be gone Finance minister saw things that he did not want to be associated with.  It would not surprise me.

Edited September 1, 2020 by ThailandRyan

[AlfHuy]

I leave my phone on, just in case.

Will I get a work permit?

[herfiehandbag]

48 minutes ago, steven100 said:

nonsense ....  as I said before ,  Khun Prayut Chan O Cha is possibly the second highest person of statue authoritarian within the Kingdom of Thailand ....  he will make a decision based on his knowledge and what is best for Thailand. He is the leader, he is at the top whether farang like it or not. lol    

PS.maybe Thailand is not the place for you.

 

Time for a nice cup of tea and your medicine I think Steven!

[Susco]

58 minutes ago, steven100 said:

Khun Prayut Chan O Cha is possibly the second highest person of statue authoritarian within the Kingdom of Thailand

 

Everyone by now knows that Prayut is controlled by the watch man, and is just a facade with nothing behind it

[anchadian]

A statement published on the Royal Government Gazette said PM Prayut accepted his resignation.

https://www.khaosodenglish.com/politics/2020/09/01/new-finance-min-resigns-just-1-month-after-taking-job/

[ThailandRyan]

Well that was anticlimactic.  Now they need to find someone who can rub two 1 baht coins together and make them grow into billions to pay for subs, Stryker armored vehicles, and at the same time restart the crippled economy or at least the tourism sector they are droning on and on about lately with all of there Phuket models.

[bodga]

1 hour ago, steven100 said:

Khun Prayut Chan O Cha is possibly the second highest person of statue authoritarian

just  below Daffy  Duck!