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Private sector shaken after 4 economics ministers quit ruling party

Jul 11. 2020
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The private sector has been shaken by upheaval in the Prayut government, after four ministers credited with running the economy resigned from the ruling Palang Pracharat Party.

The Thai Chamber of Commerce expressed concern that collaboration between business and government would be affected after Finance Minister Uttama Savanayana, Energy Minister Sontirat Sontijirawong, Higher Education, Science, Research and Innovations Minister Suvit Mesinsee and PM’s Office deputy secretary-general Kobsak Pootrakool quit the ruling party. Their resignations triggered worry they could lose their posts in a pending Cabinet reshuffle.

The board also urged the government to set up a centre for economic recovery after the Covid-19 pandemic, suggesting the prime minister head the new organisation which should collaborate with the private sector for more agile operations.

Kalin Sarasin, the chamber’s chairman, added that the government should maintain remedial measures to help SMEs with their costs until the end of this year. The measures have been running for the past three months.

Meanwhile, he suggested that tax collection should be reviewed for cases outside the system. He added that social security contributions collected from employers should be reduced from 4 per cent of their revenue to 1 per cent.

The chairman also advised the government to reopen more border checkpoints closed amid the Covid-19 crisis and update relevant laws.

Finally, he urged the government to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade deal.

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