Deputy Prime Minister and Finance Minister MR Pridiyathorn Devakula as well as Deputy Prime Minister and Industry Minister Kosit Panpiemras, reputed for their ability in macroeconomics, are the main anchors of the ministerial team to manage the economy during the transition to an elected government.

Confirming that the government is focusing more on clearing structural problems that could hinder long-term development, Pridiyathorn announced yesterday that specialised banks, including Government Savings Bank and Government Housing Bank - which were used by the Thaksin government to support its populist policies, must fall under the same rules as commercial banks.

Earlier, he mentioned the need to cut credit-card growth to curb the overspending encouraged under the previous government's dual-track approach of using both exports and domestic spending to boost the economy.

All this is in line with his message earlier that the government would proceed with "sound" investment plans within the country's "fiscal means". This also fits in with Kosit's emphasis on sufficiency economy.

While these two are burdened to carry out main tasks particularly to restore investor confidence, others are also expected to face tough tasks in their respective ministries. Helping them the most will be Krirk-krai Jirapaet, Piyasvasti Amranand and Sansern Wongcha-um.

Krirk-krai's appointment as commerce minister shows the government's willingness to proceed with free-trade pacts, since the former commerce permanent secretary is keen on trade negotiations. Incidentally, Foreign Minister Nitya Pibulsonggram formerly headed the Thai-US FTA negotiation team.

Krirk-krai will also need to accelerate implementation of the country's first retail business law to protect small retailers from expansion by multinational retail firms, and ensure continued export growth.

Expected to float the price of cooking gas and ensure minimum intervention in the retail oil business, Energy Minister Piyasvasti said his first priority would be drafting a law to set up a supervisory body for the natural-gas and electricity industries.

"Electricity and gas are monopolised industries and thus there should be a special law. The law should be completed within a year," he said, adding that historically, crucial laws were enacted when the country was governed by non-elected governments.

Though appointed as the deputy transport minister, Sansern is expected to play a more important role than his boss, Admiral Theera Haocharoen.

A former commander-in-chief of the Royal Thai Navy, Theera has no experience in transport, according to a source in the sector.

In comparison Sansern, while secretary-general of the National Economic and Social Development Board (NESDB), was keen on mapping a national plan for mass transit and logistics - the two key areas that the ministry must look at to ease worsening traffic congestion as well as reduce energy consumption.

"I believe that Khun Sansern will make it possible for Thailand to find a contractor for the mass-transit development, probably the first line, within a year," said the source.

Like Theera, there are doubts about the capability of other economic ministers, despite their credentials in their respective areas.

Agriculture Minister Thira Sutabutra, a former rector of Kasetsart University, has to help farmers tackle flood problems alongside declining crop prices. Next come corruption scandals plaguing the ministry, particularly the Royal Flora Project, rubber seed bidding and the setting up of a central quality inspection laboratory for farm goods.

Tourism and Sports Minister Suvit Yodmani also raised doubts. Previously spokesperson for two governments, he now has to steer the tourism industry through hard times. Notably, the Tourism Authority of Thailand (TAT) has set a target of 15 million tourist arrivals next year, amid reports of a degrading natural environment.

He said yesterday he would follow up on the current tourism agenda, including redeveloping tourist attractions, but would also revise some TAT projects and the annual budget.

"I will monitor the tourism plans; if any are not worth the investment, they will be dropped," Suvit said.

Also raising doubts is ICT Minister Sitthichai Pookaiyau-doom. While Pridiyathorn has insisted that privatisation is not on the cards, Sitthichai said yesterday that he would continue pushing the plan to list TOT Plc and CAT Telecom Plc on the Stock Exchange of Thailand.

All eyes are now on Pridiyathorn and Kosit to see whether they can steer the economy through the transition phase with their fellow ministers.

Business Desk

The Nation