Firms call for calm amid political tumult

Three major private sector groups have expressed growing concern over political instability, urging the government to ramp up efforts to rebuild trust and confidence among the public and businesses.

- WICHIT CHANTANUSORNSIRI

Speaking after a meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) yesterday, Payong Srivanich, chairman of the Thai Bankers' Association, said a key element in rebuilding trust and confidence is emphasising the rule of law.

According to Mr Payong, the JSCCIB is preparing to hold discussions with the Bank of Thailand, the National Economic and Social Development Council (NESDC), the Finance Ministry and the Commerce Ministry to realign economic priorities given the limited available resources, with a focus on the next 6-12 months.

"The objective of the meetings is to reprioritise in line with global transformations and the intense challenges we're facing," he said.

Political uncertainty could impact government disbursements and the formulation of the 2026 budget, said Mr Payong.

If budget disbursements are delayed, this will affect the national economy, he said.

Poj Aramwattananont, chairman of the Thai Chamber of Commerce, said the private sector is worried about the government's stability. Political processes must be concluded as quickly as possible so the country can function normally again, he said.