Democrats question suitability of new appointments

Buranut Samutharuk, the party's spokesman, said the qualifications of several members of the selection committees for BOT and SEC boards were dubious.

There had also been suspicions of conflicts of interest as far as these appointments are concerned.

For example, Pornchai Nuchsuwan, chairman of the BOT board; and Somchainuek Engtrakul, a member of the SEC selection body; are currently defendants in the illegal two- and three-digit lottery case.

In addition, Nibhat Pukkanasut, chairman of the SEC selection body, is a defendant in a Government Savings Bank case.

Buranut said these appointments as approved by Deputy Premier and Finance Minister Surapong Suebwonglee had damaged public trust in the two most important economic institutions.

Surapong is now the ruling People Power Party (PPP)'s secretary-general and is regarded as one of the four most powerful figures in the Samak government.

The other three are Prime Minister Samak Sundaravej, PM's secretary-general Thirapol Nop-rumbha, and Newin Chidchod, the unofficial leader of over 100 PPP MPs, most of whom have constituencies in the Northeast.

This Newin-led fraction is the largest grouping of government MPs.

Sources familiar with this development said attempts are underway to exert more government influence on the BOT since the central bank will soon appoint new members of the Monetary Policy Committee and the supervisory bodies for both financial institutions and the payment system.

Sources said the situation at the SEC, which regulates the Stock Exchange of Thailand is similar to that at the BOT.

Buranut said the opposition would also file a lawsuit on this issue in the Administrative Court. There will be discussions with MR Chatumongkol Sonakul, the former governor of BOT; and Dr Bavornsak Uwanno, a former member of the National Assembly; to be joint plaintiffs in the case against the government since both were among unsuccessful applicants for seats on two committees.

Sources said these appointments also raised a suspicion of conflicts of interest because some members of these regulatory bodies are also chairmen of listed companies, which are supposed to be regulated.

Meanwhile, Buranut said the Samak government needed to exemplify its integrity following Thaksin Shinwatra's decision to seek exile in the United Kingdom.

"This government is often seen as a nominee of former premier Thaksin so agencies like the Office of Attorney-General and the Foreign Affairs Ministry need to uphold their professionalism and integrity as far as extradition and political asylum are concerned," he said.