The Bank of Thailand and the Ministry of Finance will propose new candidates for the chairmanship of the central bank board, Finance Minister Pichai Chunhavajira said on Tuesday.
The decision follows the disqualification last month of Kittiratt Na Ranong, a former finance minister who was backed by the Pheu Thai-led government, to take the position.
The Council of State, the government’s legal advisory body, ruled that the former finance minister was ineligible because he had held a political post within the past year as an adviser to former prime minister Srettha Thavisin.
It was reported earlier that in light of the disqualification, the selection committee was to decide whether to proceed with the original list of candidates or ask the Ministry of Finance to submit a new list.
The legal process for selecting a new chair authorises the ministry to submit a candidate list equal to the number of board vacancies, with the central bank submitting a list of double the number of vacancies.
Once the committee decides on candidates for both board members and the chair, it proposes the list to the ministry.
The selection process for a new board chairman has been marked by delays and controversy. Scheduled meetings were postponed amid rising concerns over potential political interference if Mr Kittiratt, a critic of central bank policies, got the job.
The term of the current chairman, Porametee Vimolsiri, ended on Oct 1 but he remains in the position until his successor is chosen.
