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Published on January 14, 2008

Amid rising unemployment, higher oil prices and troubles in the credit and housing markets, "you worry about the cumulative effect that it all has on psychology", he said.

Hmm, I love his analogy, and I ask myself: if Thailand is a cat, how many lives has it used up?

It seems that the outlook is extremely gloomy for Thailand. Since the election on December 23, we apparently have been living without a government. While the interim government avoids making important decisions as a courtesy to the new government, many issues need quick decisions.

And it seems it could take weeks before the formation of the new government.

Importantly, now that agricultural crops are enjoying high prices due to the increasing demand for alternative energy, there is nobody in particular to plot the long-term plan on how to deal with the situation.

A businessman who asked for anonymity said that in the absence of policy-makers, he really wished government officials would take the lead in making plans and taking action.

He realised this could be difficult. "I kind of understand them. If there are mistakes, they would have to take responsibility. Still, if nothing is being done, all citizens are the ones to be affected," he said, with a deep sigh.

There are so many things that the new government must take care of.

One thing they should definitely do is find out if farmers are benefiting from the increase in crop prices.

Another item to be tabled at the new Cabinet's first meeting should be the natural-gas pipeline rental fee to be imposed on PTT, if current Finance Minister Chalongphob Sussangkarn cannot complete a deal before the formation of the new government.

Obviously, Chalongphob's decision to raise the fee from the 5 per cent suggested by the Treasury Department has led to some clouds over PTT. Aside from political uncertainties and fears of a US economic slowdown, the PTT case was the major reason behind the Stock Exchange of Thailand Index falling below 800 points last week.

Whatever its complexion, we can only hope the new government does its job really well, or Thailand may use up its ninth life and completely disappear from the world's map.

 

achara_d@nationgroup.com

The Nation