The chairman of the Stock Exchange of Thailand (SET), Pichai Chunhavajira, is likely to emerge as the next finance minister in the next cabinet reshuffle, in which Pheu Thai looks set to lose several cabinet posts to other coalition partners, a source said on Thursday.
The claim came as Mr Pichai, 76, who is currently serving as an adviser to Prime Minister Srettha Thavisin, resigned from his positions as the chairman of the SET, the energy conglomerate Bangchak Corp, and the renewable power producer BCPG Plc, according to separate filings to the SET on Saturday.
As the news came to light, Mr Srettha and Deputy Prime Minister and Commerce Minister Phumtham Wechayachai met with paroled former prime minister Thaksin Shinawatra, the de facto leader of the Pheu Thai Party, at the Rosewood Hotel, a luxury property owned by the Shinawatra family.
While journalists weren't allowed to cover the meeting, a source close to the matter said they agreed to pick Mr Pichai to take over as finance minister from Mr Srettha.
The anticipated cabinet reshuffle will likely see five Pheu Thai politicians lose their cabinet positions, namely Deputy Prime Minister Somsak Thepsutin, PM's Office Minister Puangpet Chunlaiad, Deputy Foreign Minister Jakkapong Sangmanee, Public Health Minister Cholnan Srikaew as well as Deputy Agriculture and Cooperatives Minister Chaiya Promma, according to the source.
Transport Minister Suriya Jungrungreangkit is likely to become a deputy prime minister, while Mr Jakkapong will instead be given the position of PM's Office minister, said the source.
Pichit Chuenban, an adviser to the prime minister and Thaksin's former lawyer, will become the PM's Office minister, while Paopoom Rojanasakul, secretary to the finance minister, will emerge as a deputy finance minister, said the source.
Meanwhile Mr Somsak will likely be given the public health minister's position, and deputy Pheu Thai leader Jiraporn Sindhuprai will become a new deputy agriculture and cooperatives minister, said the source.
Other than these expected changes to Pheu Thai's quota in the cabinet, Anan Phol-amnuay from the Palang Pracharath Party (PPRP) will also be given a deputy minister position in a ministry that has yet to be decided, according to the same source.
Separately, Deputy Prime Minister and Interior Minister Anutin Charnvirakul, in his capacity as leader of the Bhumjaithai Party, a key coalition partner, said he has asked Mr Srettha to allow all eight Bhumjaithai politicians currently serving in the cabinet to continue working in their current positions -- a request which he said the prime minister acknowledged.
Thai Sang Thai leader Khunying Sudarat Keyuraphan expressed her support for the rumoured changes, saying Mr Srettha, as the prime minister, could not possibly have enough time to effectively oversee the nation's financial policies, which form the core element of the government's bid to revitalise the economy.
As for speculation over the defence minister's position, the veteran politician said regardless of who gets to fill the post, the new defence minister must continue the push to reform the armed forces, even if the entire government chooses not to push for it.
In her view, the PM should take up the defence minister's post and shepherd the reform, as the party had promised to voters in the last general election, said Khunying Sudarat.
Meanwhile, former red-shirt movement leader Jatuporn Prompan said he believed the impending reshuffle would ultimately be minor ones, with just three changes to the current lineup.
Two of the positions will go to Mr Pichai and Ms Jiraporn as Pheu Thai candidates, while the other will go to a candidate from the PPRP.
"[Defence Minister] Sutin Klungsang, Dr Cholnan and all those names who it was rumoured will be axed from the current cabinet will actually stay on," he said.
Mr Srettha, who might not have much time left as the government's leader, wouldn't make any radical changes to the cabinet as doing so might cause a backlash that he doesn't need, said the political pundit.