Thailand to Form New Government Next Week: Anutin
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- Anutin Charnvirakul said Saturday he expects Thailand to have a new government next week, with a list of cabinet members submitted for royal endorsement on Monday.
- The Bhumjaithai Party's policy statement to parliament is expected around April 7-9, based on election promises including the next phase of a consumer subsidy scheme, per deputy party leader Siripong Angkasakulkiat.
- Anutin apologized for turmoil caused by oil price management in early March, after the government held prices steady for 15 days before ending the cap and announcing an oil tax cut along with other support measures.
- Thailand has 107 days of oil reserves with additional shipments due April-May, and the Oil Fund is currently running a deficit of approximately 38 billion baht (US$1.16 billion), Energy Minister Auttapol Rerkpiboon said.
- Foreign Minister Sihasak Phuangketkeow said Thailand contacted Brazil, Nigeria, Kazakhstan, and Azerbaijan to secure oil supplies, and coordinated with Iran for safe passage of Thai vessels through the Strait of Hormuz — one Thai vessel has already passed, with a vessel owned by SCG Chemicals next in line.
- Finance ministry official Lavaron Sangsnit said the consumer subsidy scheme will launch once the new government is in place, and the Commerce Ministry is monitoring prices to prevent excessive hikes.
Why it matters: The Oil Fund is running a ~38 billion baht (US$1.16B) deficit that Anutin's apology implicitly acknowledges, as he pivots from the failed 15-day price cap to tax cuts and a consumer subsidy. With 107 days of reserves and supply outreach to four countries plus Iran for Hormuz passage, Thailand is buying time to stabilize fuel costs before launching its signature subsidy program.
