Prachai back in election

POLITICAL U-TURN

Prachai back in election

Matchima Thipataya leader withdraws resignation after plea from candidates who fear party may sink

Published on December 7, 2007

Matchima Thipataya Party leader Prachai Leophairatana withdrew his resignation yesterday, saying he would continue to lead the party into the election.

"All party members have given their moral support to my leadership, hence I will continue to serve them," he said.

Prachai spoke following a meeting with Matchima's party-list and constituency candidates, who turned out in full force to ask him to review his decision to stand down.

Prachai said he would continue to lead the group, quelling speculation the party could disintegrate ahead of the polls.

The former tycoon announced his resignation on Tuesday, a day after the Criminal Court convicted him of stock manipulation and sentenced him to three years in jail.

Matchima Thipataya deputy leader Intarat Yodbangtoey said Prachai changed his mind because he wanted to sacrifice for the well-being of the Thai people.

"He was disheartened after facing hiccups. But after he analysed the political situation and the political crises he went through, the man who possesses fighting spirit has returned to the race,'' he said.

A source said Prachai changed his mind after party members convinced him to think of the 300 members who would lose out if they had no support to run in the election. They convinced him he still has a chance to become PM or finance minister under the new law.

Prachai had thought that because he was convicted of share manipulation, he had lost the right to qualify for those posts.

Party members told him if he turned his back on politics, he would lose any immunity to protect himself against problems.

One party member said Prachai returned to politics not because he feared Somsak Thepsuthin would take over "his" party. Although his wife Orapin opposed his decision to continue running in the poll, Prachai wanted to show responsibility and help his party members win the election, the source said.

The Nation