PUBLISHED : 31 Oct 2024 at 04:00
A new Bank of Thailand (BoT) board chairman is expected to be named on Monday after a three-month selection process, according to a Finance Ministry source.
The selection process was to find a replacement for Porametee Vimolsiri, whose term ended on Sept 16.
The selection committee, led by the former finance permanent secretary, Sathit Limpongpan, will meet at the BoT for a secret ballot on Nov 4.
It is expected that a decision on the new chairman will be made at the meeting.
On Oct 8, the committee set up to pick a new board chairman postponed making a selection amid concerns of possible political interference raised by several people, including former BoT governor Tarisa Watanagase.
The government has signalled that it plans to nominate its own candidate to succeed Mr Porametee.
Former commerce minister Kittiratt Na-Ranong has been tipped for the post.
Mr Kittiratt was a former deputy leader and former chief strategist on the economy under 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 yesterday afternoon amid speculation Mr Kittiratt would be given the nod. However, it decided to postpone the decision pending more information gathering.
Ms Tarisa earlier urged the committee responsible for selecting the chairman to demonstrate moral courage.
In a social media post, she said the government was unhappy with the BoT’s interest rate policy and its views on 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.
Apart from Mr Kittiratt, other candidates for chairman are former permanent secretary for energy, Kulit Sombatsiri, and Surapon Nitikraipot, the Thammasat University Council president and an independent director of PTT Plc.
According to selection rules, the Ministry of Finance can propose one candidate per board vacancy, while the BoT can propose twice that number.