Kosit Panpiemras, Virabongsa Ramangkura and MR Chatu Mongol Sonakul are among the names suggested by businessmen and academics to replace MR Pridiyathorn Devakula as the new finance minister.

But more importantly, they urged Prime Minister Surayud Chulanont to seize the reshuffle opportunity to bring more economic ministers into the Cabinet to regain the lost trust of the business community.

Santi Vilassakdanont, chairman of the Federation of Thai Industries said: "The most important objective of this Cabinet reshuffle must be to gain the people's trust. The new [finance] minister must be able to solve immediate economic problems and also set a long-term plan.

"I think Kosit [Panpiemras, currently the industry minister] would be a suitable candidate to be the new finance minister. He has credibility. And I don't see why he couldn't head both the industry and finance ministries. The Ministry of Industry already has Piyabutr [Cholvijarn], the deputy minister, taking responsibility. Besides, there isn't any problem within the ministry.

"If Kosit becomes finance minister, he will have an overall view of the economy in terms of industry as well as economic policy. There'll be no disputes. Things can get done more easily."

Boon Vanasin, chairman of Rajthanee Group, said: "There are quite a few policy problems. With the government having been in power for almost half a year, expectation is high.

"The new [finance] minister must be clean and decisive, because whatever is not achieved by this administration is unlikely to be achieved by the next elected government. This government has the power to make things happen.

"I want Virabongsa [Ramangkura, a former deputy prime minister] as replacement. He is a high-calibre academic and has a very clear stance.

"But if the People's Alliance for Democracy protests, it'll be at its own peril, because people don't necessarily support it."

A businessman, who asked not to be named, suggested former central banker Chatu Mongol be given the responsibility because of his defiant and aggressive style, which earned him much credibility but also led to his sacking by the Thaksin administration.

"He is tough. In the present circumstances, when the country needs someone who will dare to make key decisions without fear of hurting others, it must be Chatu Mongol," the businessman said.

Among major decisions the new finance minister has to take into account concerns over the 30-per-cent reserve requirement, which has caused confusion and has so far failed to weaken the baht against the US dollar.

However, Somphote Ahunai, director of Sea Horse Plc, noted: "Time is running out for the interim government, so it'll be difficult for any newcomer. At the moment, it is more important to gain the public's trust than to set any policies. The public must be able to accept the replacement."

He would not mind a small- or large-scale reshuffle, saying there are always pros and cons in every decision.

"For a big reshuffle, the government must establish a clear image. Its main drawback, however, is that those ministers who are moved out will become a suspicious political target.

"If the reshuffle is small, then people will wonder why it should have happened in the first place.

"The new finance minister must have a clear vision and some political clout. Otherwise it'll be difficult to get anything done. The replacement must be accountable and able to answer any public inquiry.

"The key is to create stability, not draw up new policies. The prime minister must be aware of who people want before he commits himself.

"I think Kosit would be a good choice. I don't think that, as outsiders, Virabongsa or Olarn Chaipravat [former president of Siam Commercial Bank] would really want to join the Cabinet. They also have other duties to attend to."

Sigve Brekke, chief executive of Total Access Communication, the second largest cellular operator, said he wanted to see the government with high stability, a clear national management policy and a systematic work process so that investors could keep up with what it was doing and what it would do next.

Dej Pathanasethpong, president of the Thai Garment Manufacturers' Association, would prefer not to see a large-scale reshuffle as the ministers would need time to settle down in their new positions and it would take at least two weeks to see the policies of the new Cabinet and the economic direction.

He did, however, say: "A reshuffle is no proof that the government is going to do any better", adding that there was a need to find the next finance minister quickly.

Somkiat Anuras, deputy secretary-general of the Board of Trade, had a different point of view. He said he would like the entire Cabinet to be reshuffled because many ministers had yet to prove themselves.

"It would be worth the risk to see if a complete reshuffle isn't the better solution," he said.

He said the government should have a clearer economic policy and resolve the situation in the deep South. He proposed a person with a good understanding of macro-economics should be the new finance minister.

Economists suggested bringing more economic ministers into the Cabinet who could bring about drastic changes.

"The new finance minister can be anybody, but he has to revolutionise the Thai economy, by for instance launching tax reforms or bringing changes to the Securities and Exchange Commission and the Stock Exchange of Thailand," said Medhi Krongkaew, an economics professor at the National Institute of Development Administration.

He said it was not necessary that the new finance minister should be well known to the public. People whose names often appear in the newspapers may not be suitable if they retain the status quo of the system once they are appointed, he said.

Teerana Bhongmakapat, an economics lecturer at Chulalongkorn University, also suggested Surayud bring more economic ministers into the Cabinet.

"More ministers could speed up implementation of economic policies at this critical time as the economy slows down rapidly," he said, and each should have only one post. He shared Medhi's view that the new finance minister must take an aggressive approach to solving economic woes.

Teerana said there were few economic ministers in Surayud's Cabinet and the government had underestimated the pace of economic slowdown.

He said he would like to see Kosit as the new finance minister.

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