BoT board boss pick delay

A committee organised to pick a new chairman of the board for the Bank of Thailand has postponed its selection until further notice amid concerns of possible political interference from several people, including former BoT governor Tarisa Watanagase.
The government has reportedly signalled that it plans to send its own candidate to succeed Porametee Vimolsiri, whose term ends this month. Former commerce minister Kittiratt Na-Ranong has been strongly tipped for the post.
Mr Kittiratt was a former deputy leader and former chief strategist for the economy of the ruling Pheu Thai Party. He also served as an adviser to former prime minister Srettha Thavisin and criticised the BoT’s interest rate policy and the agency’s independence.
The seven-member selection committee met on Tuesday afternoon amid speculation that Mr Kittiratt would be appointed. However, it decided to postpone the decision pending more information gathering.
Its members are former finance permanent secretary Sathit Limphongpan, former commerce permanent secretary Boonyarit Kalayanamitr, former industry permanent secretary Witoon Simachokedee, former Budget Bureau director Worawit Champeerat, former secretary general of the Council of State Office Atchaporn Charuchinda, former SEC secretary-general Pakorn Malakul na Ayutthaya, and former secretary of the Office of the Insurance Commission Sutthipol Thaweechaikarn.
Mr Pakorn said the meeting was inclusive, and the committee’s secretary was assigned to provide more information. Mr Atchaporn said further information is needed to vet the candidates’ qualifications, and the next meeting has not yet been scheduled.
Ms Vireka Suntapuntu, the panel’s secretary, said the information must be thorough for the selection to be valid, so the secretary has asked for more time to verify it.
Mr Worawit on Tuesday confirmed that Mr Kittiratt was one of the candidates.
Earlier in the day, Finance Minister Pichai Chunhavajira turned a deaf ear to speculation the government aims to appoint a politician to the role.
He was addressing reporters’ questions about possible discussions with BoT governor Sethaput Suthiwartnarueput regarding monetary policy and the government’s economic stimulus measures when the topic was raised.
He responded: “Is it? BoT? Politician?”
Deputy Finance Minister Julapun Amornvivat said there was no political interference, and the process would be handled in accordance with the law.
He said he had no knowledge about Mr Kittiratt’s widely speculated appointment.
Meanwhile, former central bank governor Tarisa Watanagase on Tuesday urged the committee responsible for selecting the chairman of the board to demonstrate moral courage.
In a social media post, she said the government was unhappy with the BoT’s decisions on interest rates and the 10,000-baht digital wallet plan.
She warned that if the government-backed candidate was appointed board chairman, it would pave the way for political interference and could have serious economic implications.
The selection committee must act with good conscience when making their decision, which could help avert more economic problems, she said.
Ms Tarisa made the case that political interference in central banks as observed in other countries served as evidence that institutions lacking independence cannot necessarily maintain long-term economic stability.
According to Ms Tarisa, to guard against political interference, the law requires the selection committee members to be retired senior officials from economic institutions who have lived up to all expectations.
She expressed hope the committee would adhere to the principles.
Meanwhile, followers of the late Luangta Maha Bua submitted a petition to Prime Minister Paetongtarn Shinawatra on Tuesday, voicing opposition to the government’s perceived interference in the BoT.
The monk’s disciples slammed the finance minister’s appointment of the committee to select the BoT’s board and chairman. They said the panel did not include any former central bank governors, which is a break from tradition and suggests intent to intervene in the central bank’s operations.