Indonesian Political, Business & Finance News

Premier Chuan finalizes new cabinet lineup

| Source: REUTERS

Premier Chuan finalizes new cabinet lineup

BANGKOK (Agencies): Prime Minister Chuan Leekpai finalized an
eight-party cabinet yesterday with his 123-seat Democrat Party
set to take the helm of most economic ministries, senior party
sources said.

They said the new cabinet was expected to be sworn in by King
Bhumibol Adulyadej today, and its first meeting was tentatively
scheduled for Friday.

"The new government needs to assume office as soon as possible
to facilitate Thai delegates attending the APEC (Asia Pacific
Economic Cooperation) meeting," a senior Democrat source said.

He said the first cabinet meeting would prepare Chuan's policy
statement to be presented to parliament, his first official job
before his government starts working.

Chuan will leave for the APEC meeting after his policy speech
in parliament next week. The summit is set for Nov. 24 and Nov.
25 in Vancouver.

Chuan pledged he would not back off tough decisions needed to
turn around his country's struggling economy.

"My decisions will be based on fact and necessity. If I have
no popular alternatives, I will tell the people the truth, the
real circumstances," Chuan said in an interview with a leading
daily newspaper here.

"I have always made myself clear. I will not make a decision
for political survival. I work for the country and the people. I
may be a disappointment to some groups, but the public will
understand," he told the Nation.

Chuan replaced Chavalit Yongchiayudh on Sunday who quit
Thursday amid unprecedented public fury over his government's
handling of the country's worst slump since 1945.

Top among the criticisms leveled at Chavalit was that he back-
tracked on policy decisions, sending alarmed investors fleeing
from the markets, and ultimately leading to the collapse of his
rule after a final flip-flop.

The International Monetary Fund, which threw Thailand a
US$17.2 billion lifeline to avert economic meltdown, and
investors have insisted that strict economic discipline -- even
if unpopular -- must be applied to allow recovery to take root.

"I will speed up my decisions," said the second-time premier
known for his slow decision-making, "but I am still against
making any hasty move and then having to rescind it."

The Democrat party would fill the finance, commerce, foreign
affairs and commerce portfolios, party sources said.

Former finance minister and Bangkok member of parliament
Tarrin Nimmanahaeminda will likely return to the job he held from
1992 to 1995 in Chuan's previous government.

And former central banker Supachai Panitchpakdi is expected to
be deputy prime minister for economic affairs in the new cabinet
lineup.

Articulate former deputy foreign minister Surin Pitsuwan would
be elevated to full minister, the Democrat Party source said.

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