Prime Minister Srettha Thavisin has come to the defence of Pheu Thai party leader Paetongtarn Shinawatra over her harsh criticism of the Bank of Thailand. She had claimed that the bank’s independence poses an obstacle to the government’s efforts to drive economic recovery.

Paetongtarn’s criticism, which featured in her address to party members yesterday, immediately drew flak from several quarters, among them former Democrat MP Nipit Intarasombut, former red-shirt leader Jatuporn Promphan and Chirmsak Pinthong.

PM Srettha said today that Paetongtarn was merely reflecting the grievances of the public and the business sector over high interest rates, because the central bank has declined to cut the 2.5% policy rate by 25 basis points, as the government wants.

He said that, privately, he understands the need for the independence of the central bank and still hopes that they can work together.

Srettha noted that government officials, financial institutions and politicians must share one common objective, which is to work for the public, adding that he will discuss how the government and the central bank can work in harmony with newly-appointed finance minister, Pichai Chunhavajira.

Former Democrat MP Nipit Intarasombut said in his Facebook post today that Paetongtarn’s criticism of the central bank is very serious, adding that she is now following in the footsteps of her father, paroled former prime minister Thaksin.

Former senator Chirmsak Pinthong said in his Facebook post today that, if Pheu Thai party members want to see Pheu Thai become a real political party, they should change their party leader.

Meanwhile, veteran journalist Suthichai Yoon said Paetongtarn is harming herself, because of her communication mistakes, and that her criticism of the central bank amounts to putting pressure on the governor of the central bank.

Paetongtarn calls BOTs independence an obstacle