Is Srettha planning to divest his finance portfolio to SET chief Pichai?

[webfact]

The first Cabinet reshuffle of the Srettha Thavisin government is expected to take place after the close of the current Parliamentary session on April 9. Among the frontrunners for the finance minister’s post is Pichai Chunhavajira, 76, a longtime Shinawatra family loyalist. 

 

With PM Srettha reportedly wanting to give up the additional portfolio of finance that he holds, Pichai – currently chairperson of the Stock Exchange of Thailand – is widely tipped to be the new finance minister.

 

Pichai is already serving as an advisor to Srettha, with long and close political ties with the Shinawatra family, the political dynasty controlling the ruling Pheu Thai Party.

 

There were widespread rumours that Pichai had recently sold 1.2 million shares in BCPG, worth an estimated 8.5 million baht, in preparation for being named the finance minister.

 

He is currently an advisor to the prime minister and also an advisor to The Board of Investment of Thailand.

 

In addition he serves on the board of the State Enterprise Director Screening Committee and is a member of the monitoring committee solving problems of Thai Airways International Company.

 

File photo : Pichai Chunhavajira

 

Full story: Thai PBS 2024-04-01

 

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[hotchilli]

2 hours ago, webfact said:

The first Cabinet reshuffle of the Srettha Thavisin government is expected to take place after the close of the current Parliamentary session on April 9. Among the frontrunners for the finance minister’s post is Pichai Chunhavajira, 76, a longtime Shinawatra family loyalist. 

Purely coincidental of course.... age 60 government officials should be forced to retire.

[sammieuk1]

Looks like he wants to get even richer faster to me 🤔

[bamnutsak]

This move has been rumored for at least the past month, I honestly assumed it was already done.

 

 

Maybe the divestiture of stocks was holding things up. Although having the SET Chairman directly holding shares seems like a conflict of interest.

 

 

[mfd101]

Forgive my ignorance, but I take it that government Ministers don't have to be members of Parliament?

 

The current PM is not, for instance. What about the others?

 

Effect of a military-designed 'Constitution'?

[Srikcir]

3 hours ago, mfd101 said:

Forgive my ignorance, but I take it that government Ministers don't have to be members of Parliament?

Members of the cabinet are nominated by the prime minister, cannot be members of Parliament and formally appointed by the King of Thailand. Except in the case of former military-coup leader PM Prayut who claimed in 2023 that he was not with concurrence of the Constitutional Court the PM beyond 2018 even though he received Royal Appointment.

 

The prime minister is nominated by the party that won the majority of Parliament House seats in a national election, except when the person is a military coup leader such as Gen. Prayut who simply in 2014 appointed members of the Parliament, then elected by Parliament as PM.

 

But when under the military-drafted 2016 Constitution, when no nomination gains a majority vote of the House, the then military-appointed Senate can add its vote for PM as it happened in the case of PM Thavisin who lost in the House vote but with the Senate won the overall Parliament (aka National Legislative Assembly) vote. 

 

Governance of Thailand is complex.

 

[PETERTHEEATER]

11 hours ago, webfact said:

Pichai – currently chairperson of the Stock Exchange of Thailand –

No one knows his gender?