Inside Financial Markets

legislature elects Thai army chief as PM

thai army cheifThai legislature elects army chief as PM

Thailand’s military-controlled legislature has elected army chief Prayuth Chan-ocha as the country’s 29th prime minister.

Prayuth Chan-Ocha secured the National Legislative Assembly (NLA)’s unanimous vote on Thursday.

The appointment will now be forwarded to King Bhumipol Adulyadej for endorsement.

“I will wait for the royal endorsement, until then I am just the army chief,” Prayuth told the press at an army base east of Bangkok.

As prime minister, Prayuth will work with the NLA and a yet-to-be-formed National Reform Council to appoint a cabinet and draft a permanent constitution.

Prayuth announced in a televised address in June that the country will hold elections by late 2015.

On May 22, the Thai army seized power and ousted former Prime Minister Yingluck Shinawatra following months of anti-government protests and violence in the country.

Demonstrations initially erupted in Thailand after the government proposed an amnesty bill last October that could have pardoned Yingluck’s brother and former Premier Thaksin Shinawatra, setting the scene for his return to the country.

Opponents viewed Yingluck to be a proxy for her elder brother, who himself had been toppled in a coup in 2006. Thaksin has been living in self-exile since 2008 to avoid a two-year prison sentence

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)