Govt denies Kittiratt shoo-in for BoT chief

The government has brushed aside reports of former finance minister Kittiratt Na-Ranong making the cut as new chairman of the Bank of Thailand (BoT) board, saying nothing has been made official yet.
Deputy Prime Minister Phumtham Wechayachai said Tuesday the identity of the new chairman is merely a news report at this stage.
“Let’s not bring it up. No one should talk about it without knowing the facts. We don’t want this to be blown out of proportion,” he said.
On Monday, the committee tasked with selecting the new BoT board chairman reportedly finalised the nomination for the position but did not publicly name the candidate selected.
Nevertheless, Mr Kittiratt is still expected to land the chairman post despite stiff opposition from at least 300 economics academics as well as four former BoT governors.
The selection committee convened for a third time on Monday to select the successor to Porametee Vimolsiri, whose term as chairman ended last month.
On Tuesday, Mr Phumtham said no name had so far been put forward for cabinet endorsement. The selection process must be allowed to run its course, he added.
The senior member of the ruling Pheu Thai Party maintained that the government acted within the law when making selections, including Mr Kittiratt, to vie for the chairman seat.
However, Mr Phumtham said the government was receptive to criticism and opposition to Mr Kittiratt’s appointment as BoT chairman.
Critics fear Mr Kittiratt’s closeness to Pheu Thai could invite government interference in the central bank’s policies and important financial decisions that impact the country.
However, Mr Kittiratt’s supporters explained that the chairman’s role was limited.
“At this point in time, we can’t even be sure it’s Mr Kittiratt who has been picked to fill the chairman seat. The selection committee has vetted the qualifications of all candidates, and it can’t do anything above the law.
“It’s up to the selection committee. The government has steered well clear of it,” the deputy premier said.
Mr Phumtham said Mr Kittiratt has as good a chance as any other candidate to win the nomination, adding that everyone should stop speculating and wait for the new chairman to be announced.
The other top candidates are Kulit Sombatsiri, former permanent energy secretary, and Surapol Nitikraipot, president of the University Council at Thammasat University.
Deputy Finance Minister Julapun Amornvivat denied government meddling in the selection, saying none of the candidates would encounter any problems working with the BoT.
Finance Minister Pichai Chunhavajira said the selection committee would be inclined to keep its work in strict confidence.
The procedure dictates that after the panel has chosen a chairman, he or she must be informed before the minister can forward the name to the cabinet for endorsement.
Mr Pichai said he has always worked well with the BoT. While the government is in charge of macroeconomic management, the BoT looks at the overall financial picture. “We fine-tune policy together so we’re always on the same page,” he added.