Free Trial

MFP To Keep Fighting For Pita's Re-Nomination, Business Leaders Call For Fast Transition

THAILAND

The Move Forward Party (MFP) said they will table a motion in parliament to reconsider last week's vote in which lawmakers blocked a re-submission of MFP leader Pita Limjaroenrat's name for the PM selection process. The party cited a letter signed by over a hundred of law lecturers from the country.

  • The decision has been challenged in the Constitutional Court and House Speaker Wan Noor put the PM vote on hold until the top judicial body rules whether Pita could re-enter the race to become Prime Minister.
  • Regardless of the verdict, Pita is highly unlikely to become the next Premier, as the pro-military establilshment appears bent to prevent this from happening, while the Pheu Thai Party has now taken the lead in government formation.
  • The current situation creates a risk of a prolonged political deadlock in Thailand. One scenario discussed by the analysts involves delaying PM selection until the Senate's term expires in May 2024, although most political leaders seem willing to avoid it.
  • The local business community has called for a quick end to the current stalemate, which erodes investor confidence and obstructs strategic decision-making. Several leaders of business lobbies have called for a smooth and fast power transition.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.