On Wednesday, Mr Srettha delivered a speech upon being royally endorsed as Thailand’s 30th prime minister.
He pledged to unite all Thais, respect differences of opinion in society, and lead the Pheu Thai-led government to make Thailand “a country of hope for the new generation and a land of happiness for people of all ages”.
Although Mr Srettha is holding the reins of the government, analysts say his party will have to compromise in its governance in order to achieve its political goals, while making sure its coalition government does not fall apart.
Talks over cabinet positions are taking place ahead of an official announcement expected soon.
Local media reported Pheu Thai is likely to claim top portfolios such as finance, transport and health, while having to sacrifice other key ministries to its coalition partners in exchange for their support.
Bhumjaithai is speculated to land the interior and labour ministries, while United Thai Nation is likely to get the energy and industry ministries.
Besides balancing the coalition’s dynamic, analysts say Mr Srettha will also have to act as a nominee of Mr Thaksin and protect the interest of the Shinawatras.
His rise to power has been associated with Mr Thaksin’s return to Thailand on Tuesday after spending more than 15 years in self-imposed exile.
His homecoming took place only a few hours before the prime ministerial selection in parliament, where Mr Srettha won the premiership with overwhelming support from both Houses.
According to Mr Yuthaporn, the Srettha administration has a hidden agenda of granting Mr Thaksin an amnesty as well as enabling a safe return of his sister – exiled former prime minister Yingluck Shinawatra, who was ousted from power in 2014 by Gen Prayut’s coup d’etat.
Following his return, Mr Thaksin was ordered by the Supreme Court to serve eight years in prison.
However, his time in jail lasted less than a day. Citing health conditions, the authorities transferred him in the middle of the night from the medical wing of Bangkok Remand Prison – where he was kept alone – to a hospital in downtown Bangkok.
“The parliament could pass an amnesty for political prisoners more generally, and that would include Thaksin,” James Ockey, an associate professor from the University of Canterbury, told CNA’s Asia First on Wednesday.
With military-linked parties in the coalition, Mr Ockey added, the new government could potentially pass such a pardon.