Pressure rises on economic ministers as reshuffle looms

Speculation is mounting of an imminent Cabinet reshuffle, especially of economic portfolios, although Prime Minister Prayut Chan-o-cha remained non-committal when asked by reporters yesterday.
Prayut was upset when asked if he would summon MR Pridiyathorn Devakula, the deputy premier in charge of economic affairs, for talks after Pridiyathorn apparently made remarks about the PM’s lack of knowledge on the economy during a meeting with the Thai Bankers’ Association on July 17.
“I don’t have to do that,” Prayut said, adding that as prime minister and head of the National Council for Peace and Order, he has the sole authority to reshuffle the Cabinet as and when he deems it necessary.
“Today, I am responsible for running the country. I can make my own decision on Cabinet changes. I am the one who makes the choice on Cabinet members. For me, work is separate from personal issues,” he said.
Pridiyathorn, meanwhile, dismissed the report as groundless, saying: “How could I say such a thing [that the premier did not have knowledge of the economy]? No, it’s not true. The premier has a good understanding of the economy. I think there have been attempts to remove me from the Cabinet. I went to talk to the Thai Bankers Association about the government’s economic policy and to seek cooperation in credit extension for SMEs. Why would I talk myself into trouble?”

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Meanwhile, Finance Minister Sommai Phasee yesterday rejected as groundless rumours that he had submitted his resignation letter to the premier. “I never did and I had no time to do so, as I had to work and attend many meetings,” he said.
Other sources said that Somkid Jatusripitak, the premier’s chief economic adviser, is likely to join the Cabinet following the recent amendment of the interim constitution, which allows Somkid and other previously banned politicians from taking up Cabinet posts.
Pridiyathorn could remain a deputy premier, but economic and related portfolios, especially finance, industry, energy and agriculture, could see new faces.
Tim Leelahaphan, Maybank Kim Eng Securities (Thailand)’s economist and assistant vice president of its research department, said a new and effective economic team could boost the country’s economic growth, sharing the opinion that Somkid should head the government’s new economic team.
Supant Mongkolsuthree, chairman of the Federation of Thai Industries (FTI), said the government needs to work more closely and effectively with the private sector in tackling economic and business issues.
“To stimulate the economy, the private and public sectors must work together and the new economic team should respond faster to our recommendations,” he said, adding the government’s actions are delayed by the bureaucracy.
The FTI chief also suggested that any new economic team must focus on improving farm prices and helping small and medium enterprises to survive the economic slowdown.
According to Tim of Maybank Kim Eng, the reshuffle of economic portfolios should be comprehensive to have any effect in tackling the economic slowdown.
Sources said the reshuffle is likely to take place soon and may include other non-economic portfolios like Foreign and Defence.
It is speculated that General Udomdej Sitabutr, the outgoing Army chief, could replace General Prawit Wongsuwan as defence minister, while the latter would remain a deputy premier in the Prayut Cabinet.
“The defence portfolio is not for any one,” said Prayut, adding that it all depends on the circumstances as to when there would be a Cabinet reshuffle.
“Everything is in my mind. You will know when there is a reshuffle,” said the elusive Prayut.