The Ministry of Finance is preparing to nominate a new candidate for the chairmanship of the Bank of Thailand on Wednesday, and has expressed confidence that the selection process will not take long.
Finance Minister Pichai Chunhavajira said on Tuesday that the ministry had finalised a list of candidates to be submitted to the selection committee, chaired by former finance permanent secretary Satit Limpongpan.
Reports have circulated that former finance minister Arkhom Termpittayapaisith was a potential candidate. Mr Pichai declined to comment, saying only that several names had been considered and the final nominee determined.
He said he was confident the final decision would not take long as the concerns of all parties involved have been acknowledged.
He reiterated that the ministry wants to appoint a qualified individual who can effectively collaborate with the ministry and the central bank.
If any issues remain unresolved, a greater effort will be made, but Mr Pichai said he believes the matter will be settled this time.
The selection process has dragged on for months, marked by delays and controversy. Scheduled meetings were postponed amid concerns over potential political interference after the government proposed Pheu Thai Party loyalist Kittiratt Na-Ranong to succeed Porametee Vimolsiri.
Mr Porametee’s term ended last Sept 30 but he remains in the position on a caretaker basis.
The Council of State ruled on Dec 27 that Mr Kittiratt did not meet the qualifications required under the Bank of Thailand Act. It said his previous role as an adviser to former prime minister Srettha Thavisin was a political position.
Candidates for the chairmanship must not have held a political position for at least one year prior to being considered.
Mr Kittiratt, a former commerce minister in the Yingluck Shinawatra government, was also an outspoken critic of the central bank’s current interest rate policy, echoing the government’s view that rates should be cut to stimulate the sluggish economy.