Thaksin Says Finance Minister His Likely Successor

[george]

Thailand's Thaksin says finance minister his likely successor

BANGKOK, Thailand (AP): Thai Prime Minister Thaksin Shinawatra said Saturday he will not stay in office beyond two terms, and will likely hand over the reins to his deputy, Somkid Jatusripitak, describing him as an uncut diamond.

Thaksin was elected to a five-year term in January 2001, and has often said he expects to easily win a second term in office.

Thaksin told reporters that there would be no need for him to stay in office at the end of his second term as he would have taken care of all economic problems by then.

"I expect that there will be no more challenging problems for me,'' Thaksin said.

He had suggested in the past too that he will not stay in power beyond two terms but this is the first time he has said it in such clear terms. It is also the first time he has named Deputy Prime Minister Somkid as his likely successor.

"There are a number of people in my mind as my political heir and one of them is Somkid. He is like an uncut diamond we have to refine. I have five years to refine the diamond,'' Thaksin said.

Thaksin said Somkid did "a great job'' as finance minister, a post he gave up earlier this year. Somkid is still in charge of economic policy making.

Somkid and Thaksin have won widespread praise for turning around Thailand's economy, which was devastated by the 1997 Asian financial crisis.

The gross domestic product, the measure of a country's economy, is forecast to grow by 5.8-6.2 percent this year.

Thaksin said the GDP will amount to 5.8 trillion baht (US$200 billion) by the time his second term in office ends. The GDP currently stands at 5.8 trillion baht (US$145 billion) But if the baht strengthens from 39.9 to a dollar now to 35 to a dollar in the near future, Thailand will reach the GDP target faster, Thaksin said.

With improving economy and little political opposition, Thaksin has become increasingly confident of his hold over power.

On Friday, he threw out a small party from his coalition government after it refused to merge with his party by dropping its three ministers in a Cabinet reshuffle.

A total of 12 portfolios were changed in the reshuffle with the Chart Pattana party losing all its three Cabinet posts. In the most significant change, Commerce Minister Adisai Bodharamik was moved to the education ministry to strengthen educational reforms.

Thaksin announced the names in the new Cabinet Saturday after the list was formally approved by the constitutional monarch, King Bhumibol Adulyadej.

Removing Chart Pattana from the coalition is not expected to affect the stability of the government, which still has a two-thirds majority in the 500-seat House of Representatives.

--AP 2003-11-08

[ThaiAdventure]

Thaksin told reporters that there would be no need for him to stay in office at the end of his second term as he would have taken care of all economic problems by then.

Yep. And cured world hunger, irradicated disease and have 1 house for every day of the week.