A settlement between the Move Forward Party (MFP) and Pheu Thai Party over which party was to get the House speaker position has now set in motion the selection of the next prime minister and the formation of a new coalition government.
The two major parties both took a step back recently and jointly endorsed Wan Muhamad Noor Matha -- then-leader of the Prachachat Party -- for the speaker role.
The 79-year-old veteran politician was unanimously selected, with his two deputies named as Padipat Suntiphada, a politician from the MFP, who was an initial candidate for House speaker, and Pichet Chuamuangphan from Pheu Thai.
The next challenge is choosing a prime minister, which is likely to take place on July 13.
Section 272 of the charter requires a joint sitting of the House of Representatives and the Senate, and the winning candidate must gain at least half of the votes from both chambers or 376.
The prime minister-designate must also receive royal endorsement. The process is expected to be wrapped up by early next month.
The premier will then form a coalition government, which also requires royal endorsement. The new cabinet will not be in charge until August, a month shy of the end of the fiscal year.
Yet the junta-appointed Senate remains the major hurdle for MFP leader Pita Limjaroenrat in his bid to lead the nation.
As of now, there are no signs the Upper House will respect the public's wishes as expressed in the May 14 election. Political uncertainty, looming turbulence stemming primarily from the deep polarisation between the liberal and conservative sides will put the country at a disadvantage.
There are three possible scenarios for the selection of the new prime minister.
Firstly, the prospective coalition comprising eight parties led by the MFP gets the nod from the Senate. This would see the cabinet formed and start working after a long delay.
Secondly, the Senate rejects Mr Pita, forcing the eight partners to propose an alternative. However, it remains uncertain if the Senate would support such a move.
In that case, there emerges a third scenario: The minority parties with 188 votes may try to form a government with the Senate's support.
It would be in the best interests of the country if the new government could be quickly formed.
The caretaker government of Gen Prayut Chan-o-cha has limited authority in accordance with the constitution. It cannot launch large-scale projects or initiatives while state agencies continue with their duties on a day-to-day basis.
A number of business operators are monitoring the situation with concern. Investors dislike political uncertainty, which deals a heavy blow to the economy. Without state investment, some business operators dare not launch their projects.
Slow economic engines have already caused hardship in several sectors. Things will go from bad to worse if the political tug-of-war between the conservatives and liberals moves outside parliament. Street protests like what happened in 2014 would damage the country.
All of the players in the political arena must attach the utmost importance to respecting the national interest, not their own cliques, and do what they can to avoid plunging the country into the doldrums once more.