Thailand’s Move Forward Party, which emerged as the single-largest party in Sunday’s election, vowed to press ahead with efforts to form a coalition government after holding talks with allies even as it struggled to win broad support from the influential Senate.
(Bloomberg) — Thailand’s Move Forward Party, which emerged as the single-largest party in Sunday’s election, vowed to press ahead with efforts to form a coalition government after holding talks with allies even as it struggled to win broad support from the influential Senate.
Pita Limjaroenrat, the bloc’s prime ministerial pick, met with senior executives of Pheu Thai and four other smaller parties in Bangkok on Wednesday. It was the first formal meeting of the new coalition after they swept the election which saw a record voter turnout and defeat of parties aligned to the pro-military establishment.
Pita said preliminary talks about government formation went well and the bloc will hold a briefing Thursday to reveal details about a memorandum of understanding between the parties.
“Move Forward’s government will have unity, clarity, and concrete plans,” Pita, 42, said on Twitter after the meeting. “And most importantly, regardless of whether you agree or disagree with me, I will be your prime minister. Regardless of whether you voted for me or didn’t, I will serve you.”
But in a setback for Pita, Bhumjaithai Party, which came third with 70 seats, ruled out backing him for the top job, saying it won’t back a candidate from a party planning to amend the country’s lese majeste law. The Move Forward-led coalition has about 310 seats in the 500-member House of Representatives, well short of the 376 votes needed to ensure Pita’s selection as premier in a joint sitting of the house with the Senate.
Read More: Thai Pro-Democracy Groups Dominate Vote in Rebuke of Military
Bhumjaithai’s stance means Pita will now need to look to pro-royalist senators and the conservative Democrat Party for support after previously ruling out any alliance with military backed parties. Alongkorn Ponlaboot, a deputy leader of the Democrat, said he will propose a motion to endorse Pita at a key party meeting next week. If approved, the endorsement from Democrat will come with no strings attached, he said.
With Move Forward struggling to secure enough support, foreign investors dumped the nation’s bonds, stocks and currency on Wednesday. They were net sellers of $492 million of bonds and $130 million of stocks, that sent the baht tumbling 0.9% against the dollar, the biggest drop in six weeks.
The country’s main stock index ended 1.1% lower at 1,522.74, the lowest close since 2021. The selloff has been led by shares of some companies linked to tycoons who dominate sectors such as telecom and retail.
The intense political jockeying and Senate’s opposition to Move Forward can potentially delay a government formation for months with some analysts pointing to the risk of a new budget bill for 2023-24 being delayed to next year.
Senate Resistance
Some members of the Senate — stacked with allies of the pro-military establishment of Prime Minister Prayuth Chan-Ocha — have vowed to block Pita’s bid for the top job. Under Thailand’s constitution, the 250-member Senate gets to vote alongside the 500-member lower house in picking the next prime minister until early 2024.
Much of the senators’ opposition to Pita comes from Move Forward’s pledge to amend the lese majeste law, which punishes criticism against King Maha Vajiralongkorn and other members of the royal family.
Thaksin Shinawatra, the influential former premier who lives in exile, said Pheu Thai or anyone from his family won’t back any legislation that could hurt the monarchy. Paetongtarn, Thaksin’s daughter and one of Pheu Thai’s prime ministerial candidates, said this week her party was open to discussing change to the controversial lese majeste in parliament.
Supporters and allies of the Harvard-educated Pita have also mounted pressure on the Senate to back the popular mandate.
Pita told CNN in an interview on Tuesday that he’s prepared “a strategic response” for different scenarios in the light of the tussle with the Senate.
But there’s unlikely to be any quick solution to the stalemate, according to Yuttaporn Issarachai, a political scientist at Sukhothai Thammathirat Open University. The political uncertainty over who gets to rule Thailand next will last at least until the election officials certify the results, which may throw up some twists, he said.
“It’s a difficult situation to navigate,” Yuttaporn said. “Move Forward needs to reach out for talks. Forming a government isn’t just about securing a majority under this abnormal political climate.”
–With assistance from Karl Lester M. Yap and Pathom Sangwongwanich.
(Updates with comments from Pita in third, fourth paragraphs.)
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