Prime minister rules out amending laws on BOT governor’s powers
Prime Minister Srettha Thavisin has firmly rejected any notion of amending the laws concerning the powers of the Bank of Thailand (BOT) governor.
This comes in the wake of discord regarding differing perspectives on Sethaput Suthiwartnarueput, the current BOT governor. Such issues have raised concerns about potential impediments to the implementation of the digital wallet scheme.
Srettha emphasised that whether it's the BOT governor, the Cabinet, or the MPs, they are all in the same situation because they must prioritise the welfare of the people, which is paramount.
As for legal amendments, they must originate from the Ministry of Finance, but currently, there hasn't been any such submission.
As for the idea of amending laws to reduce the autonomy of national banks, the prime minister said he has never discussed it. However, regarding the future, inquiries should be directed to the minister of finance.
Regarding the discrepancy between what Srettha has said about never having conflicts with the BOT governor and the portrayal of such conflicts in the media, he emphasised the importance of focusing on substance rather than appearances. He stated that while he personally believed that interest rates should be reduced, Sethaput and his team at the BOT disagreed. Therefore, he sought alternative solutions to alleviate the burdens of the people.
He reiterated that he has never had any problems with Sethaput and has not blamed him for anything.
Prior to this, Sethaput has said that his duty was sacred and crucial. Since assuming the position three and a half years ago, he, along with colleagues and employees of the BOT, have encountered challenges that were sometimes overwhelming. However, what greatly helped them was receiving tremendous encouragement.
"The government comes and goes, as do governors of the BOT, but the institution ... must remain steadfast and robust. The trust placed in the BOT by the people serves as a constant reminder for us to perform our duties consistently, regardless of who holds office.
“The BOT is committed to maintaining the economic stability of the country to ensure the sustainable well-being of the Thai people," Sethaput said.
