Pichai vows to vet BOT board chairman nominee amid controversy

Finance Minister Pichai Chunhavajira said he will personally examine the qualifications of the Bank of Thailand (BOT)’s board chairman nominee before forwarding the name to the Cabinet for approval.

“Examining the candidate’s qualifications is my duty,” Pichai, who doubles as deputy PM, said on Tuesday. 

“However, I have not yet received the name from the BOT’s selection committee. The document is probably still with the ministry’s permanent secretary, Lavaron Sangsnit,” he said.

On November 11, former Finance Ministry permanent secretary Sathit Limpongphan, who chairs the BOT’s selection committee, announced that the panel has finalised the successor of Poramethi Vimolsiri, whose term expired at the end of September.

Although Sathit did not unveil the name of the selected candidate, a source familiar with the matter said it was former Finance Minister Kittirat Na-Ranong.

Sathit said the panel will forward its decision to the finance minister by November 19, who will then propose it to the Cabinet. He added that the name can only be announced after it has been endorsed by the King.

The possible appointment of Kittirat has been met with heavy criticism due to his close ties with the ruling Pheu Thai Party and his previous role as adviser to former premier Srettha Thavisin.

Analysts fear that his appointment will result in government interference in the central bank, potentially eroding investor confidence in the bank’s independence.