Pheu Thai Leader To Step Down After Forming Gov't With Pro-Junta Parties

Pheu Thai Party (PTP) leader Chonlanan Srikaew reaffirmed his pre-election commitment to resign as party leader, should the PTP form a coalition government with pro-junta parties. As the PTP have now entered a coalition agreement with the pro-military PPRP and UTN, Chonlanan will step down once the new Cabinet is established.

• As flagged earlier, it is now widely expected that Pheu Thai's Srettha Thavisin will be elected head of government during tomorrow's second round of the PM vote. He has the support of 314 MPs in the lower house and it is very likely that majority of the pro-junta Senators will also back his candidacy.
• During his media briefing, Chonlanan confirmed that Pheu Thai's coalition partners unanimously agreed to implement the party's policy agenda, including a targeted increase in the daily minimum wage, an increase in the starting wage for new graduates, scrapping mandatory military conscription, or amending the constitution.
• Chonlanan also unveiled some of the details of the power-sharing arrangements with pro-military parties. Pheu Thai will get eight seats in the new Cabinet plus the PM position, Bhumjaithai Party (BJT) will get eight seats, while the PPRP and UTN will each get four seats.
• The baht outperformed all its peers in emerging Asia overnight amid the prospect of an end to prolonged political uncertainty. However, Pheu Thai's pact with pro-junta parties is unpopular with voters and may also cause tensions within the PTP, who were the leading opposition force in the previous parliament.