Private Sector calls for swift establishment of a new government

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BANGKOK, 15 May 2014,  – The Private sector has called for the swift establishment of a new government, in order to prevent any further deterioration of the economy.

The statement was made by Mr. Wanlop Wittanakorn, Vice President of the Federation of Thai Industries (FTI), during his discussions with First Vice President of the Senate Surachai Liengboonlertchai regarding the current political situation in the country. Mr. Wanlop told the meeting that, at the moment, what the private sector needs most is an end to the political conflict, and the establishment of a new government that is acceptable to all sides as soon as possible. He made the prediction that the GDP this year would only be in the range of 1-2% if the political turmoil persists, while raising the possibility that the figure may even enter a negative zone if the situation escalates into a violent standoff.

Mr. Wanlop stressed the private sector’s need for the government to kick start various policies, especially economic initiatives.

The FTI Vice President also touched on the topic of having an appointed Prime Minister under Section 7, saying that such an appointee would be rejected by the United Front for Democracy Against Dictatorship who strongly oppose the idea, prompting the group to escalate their protests. He said the private sector would prefer to have an acceptable leader who didn’t create even greater turbulence on the political scene.