Deputy Premier and Industry Minister Kosit Panpiemras yesterday defended the royal initiatives on sufficiency theory as a guideline to put the country back on a more sustainable development path.

Kosit, a trained economist, said at Government House that the initiatives are a philosophy, not an economic model, so it is not comparable to "Thaksinomics" - the high-growth but risky economic policies used by the ousted premier.

"The royal initiatives are applicable to all parts of society. Whether you're farmers or industrialists, you may adapt and benefit from the philosophy. For me, Thaksinomics is only symbolic jargon. It's not a theory either," Kosit said.

Kosit and other leading figures came out again yesterday to defend the sufficiency theory. Foreign publications - including the Asian Wall Street Journal, the Economist and Newsweek - have recently attacked the sufficiency theory, saying it has contributed to a loss of confidence in Thailand. At the same time, they have lauded Thaksinomics for contributing to Thailand's economic success.

Kosit said the Surayud government had adopted the royal initiatives on sufficiency economy so that Thailand returns to a more sustainable development path.

Over the past several years, Thaksinsomics has caused a number of serious problems, including more than Bt150 billion in hidden public debts and the inability of several public-sponsored projects to continue operating, he said.

"In other words, some of the schemes [launched by the ousted government] are not sustainable or will not lead to sustainable public benefits so the government needs to step in to review, based on the royal initiatives. "These royal initiatives on sufficiency economy are appropriate and consistent with the forces of globalisation. The initiatives are realistic and can work well with capitalism," he said.

Prime Minister Surayud Chulanont said there should be no confusion involving the royal initiatives and Thaksinomics.

He added that the United Nations Development Programme (UNDP) had already publicised the royal initiatives on the global stage as a new philosophy on sustainable development.

Khunying Dr Suchada Kiranant, rector of Chulalongkorn University, said the royal initiatives, with the central themes of sustainability and moderation, were sophisticated.

"We don't need to follow other nations if we don't think their way is sustainable. Self-assessment is very important. Immunity [or risk management] is also very important," said Suchada.