Srettha Thavisin, a property tycoon seeking to become Thailand¡¯s next prime minister, is set to unveil a new coalition on Thursday in an attempt to break a political stalemate keeping investors on edge since the May elections.
His Pheu Thai Party, linked to former premier Thaksin Shinawatra, has parted ways with first-placed Move Forward as it looks to secure Srettha¡¯s win in a joint sitting of parliament tentatively scheduled for Aug. 4. It needs the support of the majority of 750 lawmakers, including those in the military-appointed Senate.
Conservative parties such as Bhumjaithai and Palang Pracharath are expected to join the new coalition, and their inclusion would boost support for Srettha¡¯s nomination in the 500-member House of Representatives. His win depends on the Senate, which blocked Move Forward¡¯s leader Pita Limjaroenrat from the top office due to his party¡¯s election pledge to amend a controversial royal insult law.
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