The Fort Worth Press - Shinawatra heiress takes office as PM, vows to boost economy

USD -
AED 3.67298
AFN 67.732769
ALL 92.653778
AMD 386.383589
ANG 1.793612
AOA 912.501611
ARS 998.494795
AUD 1.536287
AWG 1.7975
AZN 1.700282
BAM 1.846296
BBD 2.009412
BDT 118.926471
BGN 1.84705
BHD 0.376874
BIF 2939.110734
BMD 1
BND 1.337959
BOB 6.877118
BRL 5.747897
BSD 0.995167
BTN 83.976834
BWP 13.577578
BYN 3.256459
BYR 19600
BZD 2.006013
CAD 1.402025
CDF 2870.000086
CHF 0.88375
CLF 0.035257
CLP 972.850076
CNY 7.237496
CNH 7.235985
COP 4397
CRC 506.839358
CUC 1
CUP 26.5
CVE 104.091342
CZK 23.876899
DJF 177.218297
DKK 7.046741
DOP 59.963561
DZD 133.399146
EGP 49.397497
ERN 15
ETB 123.19576
EUR 0.94466
FJD 2.26865
FKP 0.789317
GBP 0.78921
GEL 2.724991
GGP 0.789317
GHS 15.87354
GIP 0.789317
GMD 71.000217
GNF 8576.337427
GTQ 7.688967
GYD 208.211005
HKD 7.782365
HNL 25.139006
HRK 7.133259
HTG 130.736045
HUF 383.950073
IDR 15821
ILS 3.732145
IMP 0.789317
INR 84.40635
IQD 1303.760903
IRR 42092.496392
ISK 136.490346
JEP 0.789317
JMD 157.953365
JOD 0.709096
JPY 154.412003
KES 129.450413
KGS 86.520749
KHR 4021.485684
KMF 464.749962
KPW 899.999621
KRW 1391.540247
KWD 0.30747
KYD 0.829306
KZT 496.568521
LAK 21864.232378
LBP 89121.220417
LKR 289.952894
LRD 182.618875
LSL 18.023902
LTL 2.95274
LVL 0.60489
LYD 4.860688
MAD 9.964411
MDL 18.083469
MGA 4652.040932
MKD 58.130857
MMK 3247.960992
MNT 3397.999946
MOP 7.979723
MRU 39.679603
MUR 46.280066
MVR 15.459935
MWK 1725.746004
MXN 20.222435
MYR 4.469014
MZN 63.925008
NAD 18.023902
NGN 1667.789356
NIO 36.627616
NOK 11.010599
NPR 134.362934
NZD 1.698009
OMR 0.385014
PAB 0.995176
PEN 3.78284
PGK 4.003549
PHP 58.691013
PKR 276.467168
PLN 4.080092
PYG 7756.899506
QAR 3.629532
RON 4.700496
RSD 110.516173
RUB 99.751389
RWF 1367.129236
SAR 3.754014
SBD 8.36952
SCR 13.738475
SDG 601.501917
SEK 10.918105
SGD 1.33887
SHP 0.789317
SLE 22.650411
SLL 20969.504736
SOS 568.77183
SRD 35.404997
STD 20697.981008
SVC 8.708417
SYP 2512.529858
SZL 18.017219
THB 34.580219
TJS 10.589063
TMT 3.5
TND 3.145538
TOP 2.342101
TRY 34.611815
TTD 6.756285
TWD 32.432017
TZS 2653.981982
UAH 41.216346
UGX 3654.265512
UYU 42.678725
UZS 12750.752849
VES 45.731921
VND 25407.5
VUV 118.722009
WST 2.791591
XAF 619.22752
XAG 0.031909
XAU 0.000381
XCD 2.70255
XDR 0.757089
XOF 619.224597
XPF 112.582719
YER 249.849951
ZAR 17.95734
ZMK 9001.195576
ZMW 27.443206
ZWL 321.999592
  • SCS

    -0.0300

    13.2

    -0.23%

  • RBGPF

    59.7500

    59.75

    +100%

  • CMSC

    0.0540

    24.624

    +0.22%

  • RELX

    0.5900

    45.04

    +1.31%

  • RIO

    1.1400

    62.12

    +1.84%

  • CMSD

    -0.0500

    24.39

    -0.21%

  • AZN

    0.1600

    63.39

    +0.25%

  • BTI

    0.2900

    36.68

    +0.79%

  • NGG

    0.1500

    62.9

    +0.24%

  • GSK

    0.3400

    33.69

    +1.01%

  • BCE

    0.4100

    27.23

    +1.51%

  • RYCEF

    0.0800

    6.93

    +1.15%

  • BCC

    1.4500

    141.54

    +1.02%

  • VOD

    0.1500

    8.92

    +1.68%

  • JRI

    0.1300

    13.23

    +0.98%

  • BP

    0.4400

    29.42

    +1.5%

Shinawatra heiress takes office as PM, vows to boost economy
Shinawatra heiress takes office as PM, vows to boost economy / Photo: © AFP

Shinawatra heiress takes office as PM, vows to boost economy

Thailand's new Prime Minister Paetongtarn Shinawatra, the daughter of controversial billionaire ex-premier Thaksin, vowed to boost the kingdom's sluggish economy as she formally took office on Sunday.

Text size:

Paetongtarn, at 37 the kingdom's youngest ever PM, comes to power after a court sacked the previous premier and disbanded the main opposition party, throwing Thailand's ever-febrile political scene into a new round of turmoil.

She is the third Shinawatra to be prime minister, but will hope to avoid the fate of her father and aunt Yingluck, both of whom were thrown out of power in military coups.

Paetongtarn accepted King Maha Vajiralongkorn's official written command to form a government in a ceremony at the headquarters of a former pro-Thaksin TV station on Sunday.

She called on all Thais to work together to help revitalise the country's economy, which has struggled to bounce back from the Covid-19 pandemic.

"As head of the government I will work with parliament with an open heart, open to all ideas to help develop the country," she said after the ceremony.

"Fellow Thais, this duty cannot be done by the prime minister alone. I hope I will be able to coordinate the power of all generations, all talented people in Thailand -- from the cabinet, the coalition, civil servants, private sector and the people."

Thaksin, 75, was a prominent attendee at the ceremony, standing alongside Paetongtarn's husband in the front row.

"She has to work hard. Her strong point is that she is young, she can ask anyone for help -- she is humble," Thaksin told reporters after the ceremony.

"Twenty-three years ago she was standing behind my back but today I was standing behind her."

Paetongtarn heads a coalition government led by her Pheu Thai party -- the latest incarnation of the political movement founded by her father in the early 2000s -- but including some pro-military groups long opposed to Thaksin.

Her elevation to the top job came about after the Constitutional Court sacked previous premier Srettha Thavisin on Wednesday for breaching ethics rules by appointing a cabinet minister with a criminal conviction.

Thailand has been dominated for more than 20 years by a tussle for dominance between Thaksin and his allies and the kingdom's conservative pro-military, pro-royalist elite.

Parties linked to the former telecoms tycoon and one-time Manchester City owner have repeatedly won elections, only to find their governments upended by coups and court rulings.

Paetongtarn is a relative newcomer, running the hotel arm of the family business until late 2022 when she entered politics ahead of last year's general election -- where Pheu Thai was unexpectedly beaten into second place by the upstart progressive Move Forward Party (MFP).

- Controversial father -

Despite winning most seats in last year's election, MFP was blocked from forming a government by conservative junta-appointed senators spooked by its promise to reform royal insult laws and break up powerful business monopolies.

That allowed Pheu Thai to strike an uneasy coalition deal with pro-military parties once staunchly opposed to Thaksin and his followers, leading to Srettha's ascension.

Less than a year later, he became the third prime minister from a Thaksin-backed party to be kicked out by the Constitutional Court.

Paetongtarn will be watched closely for signs of influence exerted by her father, who is the most influential but controversial politician in modern Thai history.

She told reporters at a press conference that she would seek Thaksin's advice when needed but insisted she was independent of him, with her own ideas and goals.

Asked if he would take an official role as her advisor, Thaksin said: "Not neccessary. I am old. I am 75 years old, she can ask me anything."

He transformed the kingdom's politics in the early 2000s with populist policies that won him and his party enduring loyalty from the rural masses -- and two election victories.

But that success came at a cost: he was despised by Thailand's powerful elites and conservative establishment, who saw his rule as corrupt, authoritarian and socially destabilising.

 

He returned last year on the day Srettha became PM, and was immediately jailed on graft and abuse of office charges dating back to his time in office.

But his eight-year sentence was quickly cut to one year by the king, and he was then soon granted parole because of his age and poor health, and on Saturday he was granted a royal pardon.

D.Ford--TFWP