Connect with us

Politics

Deputy PM Somkid, top economic team resign

Jack Burton

Published 

 on 

Deputy PM Somkid, top economic team resign | The Thaiger
PHOTO: Deputy PM Somkid Jatusripitak - Thai PBS World
  • follow us in feedly

Deputy PM Somkid Jatusripitak, widely considered Thailand’s economic tzar, has resigned, along with 3 ministers working for him, paving the way for the long-rumoured cabinet reshuffle by PM Prayut Chan-o-cha of the government’s economic team. The 3 others are Finance Minister Uttama Savanayana, the energy minister and the minister of higher education, science, research, and innovation. The deputy secretary-general of the PM, also in Somkid’s team, resigned as well.

Asked about the resignations, the PM told reporters…“I don’t know, I have not seen”. Sources within Prayut’s ruling Palang Pracharat Party gave contradictory answers when contacted by Reuters. Uttama quit the party last week along with 2 other ministers amid rumours of an impending cabinet shakeup, but all remained in their cabinet positions.

Somkid is not a member of Palang Pracharat, but he has been considered the guiding economic advisor to Prayut since shortly after he overthrew the elected government of Yingluck Shinawatra in 2014. Somkid has worked in an economic advisory capacity in administrations all the way back to the early days of the Thaksin Shinawatra governments of the early 2000s.

Changes to the top economic team could further rattle Thailand’s economy, which according to Bloomberg is the worst-performing in Asia, as the government tries to mitigate damage from the coronavirus pandemic, with billions in stimulus measures being rolled out and big-ticket investment projects already shelved.

It was also reported recently that Somkid and his team plan to set up a new political party.

SOURCES: Reuters | Bangkok Post

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.



Read more headlines, reports & breaking news in Thailand. Or catch up on your Thailand news.

Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Price of gold rises but investment not without risks

Maya Taylor

Published

on

Price of gold rises but investment not without risks | The Thaiger
PHOTO: pexels.com

A leading investment research firm says the price of gold is on the rise, with predictions bullion could reach US$2,000 an ounce. Chayanee Juengmanon from Morningstar Research Thailand says one exchange-traded fund favoured by most domestic gold mutual funds, recorded net inflows of over $20 billion within the last year, a 30% increase in the value of its assets. gold shops on Bangkok’s Yaowarat Road are seeing long queues, with most customers coming to sell their gold, according to Hua Seng Heng Chief Executive, Tanarat Pasawongse. “Thais have become more skilled in gold investment. Some of them have the patience […]

Continue Reading

Economy

Swiss clothing firm denies layoffs

Jack Burton

Published

on

Swiss clothing firm denies layoffs | The Thaiger
PHOTO: mgronline.com

Contradicting earlier reports, Triumph International (Thailand) has denied any link with a garment company that laid off 800 employees on Friday. A statement from the Swiss Triumph Holding AG on yesterday said the company sold its production facilities in Thailand to Body Fashion (Thailand) 4 years ago. Accoding to the company’s head of corporate communications: “In fact, Triumph has handed over its Thai production network ‘Body Fashion Thailand as long ago as January 2016, to the Malaysian textile and apparel entrepreneur Robert Ng. In Thailand, all 2,757 employees and management were taken over. There were no lay-offs of personnel or […]

Continue Reading

Economy

Hundreds left jobless as Air Force cancels golf club contract

Jack Burton

Published

on

Hundreds left jobless as Air Force cancels golf club contract | The Thaiger
PHOTO: Chiang Mai CityLife

Hundreds of people were left jobless in Chiang Mai yesterday after Wing 41, a property owned by the Royal Thai Air Force and the location of the Star Dome Golf Club, put up a sign cancelling its contracts with all renters. According to Wing 41, all contracts expired yesterday and as of today Star Dome will no longer be open for business. Wing 41 says it is not liable for any loss of employment of Star Dome staff or any privileges of its members. The management of Star Dome held a press conference to clarify the situation, with management, staff […]

Continue Reading
Follow The Thaiger by email:

Trending