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Published on February 29, 2008

Board of Trade chairman Pramon Sutivong yesterday cut off an incoming call from a Nation reporter, as if he knew she would ask him about the aftermath of Thaksin's return.

Many businessmen who did talk to reporters were also reluctant to look forward. While saying they preferred to comment only after knowing exactly what Thaksin would do, they implicitly hoped he would not do anything that would spur political division in Thai society - which in turn would create chaos and dent investment and spending.

As if not knowing what businessmen think, Deputy Prime Minister and Finance Minister Surapong Suebwonglee yesterday announced he would approach Thaksin to be an economic adviser. He said Thaksin had met world-class businessmen in different countries and could have views that reflected the true needs of businessmen.

To date, Surapong has not yet named his advisers. But no matter who is on the team, the members should warmly welcome Thaksin, who could be the team's leader. Who knows better than the former PM about how to turn crisis into opportunity?

When oil prices first spiked in 2006, Thaksin was the one who ordered the Energy Ministry to shore up the prices so that the public would not get hit with a higher cost of living. (Although this prevented oil retailers from lowering their prices in later years when global oil prices declined, Thai consumers were still thankful to the ex-premier. To date, they are still calling for similar assistance from the government. Indeed, I quite favour the policy, for it benefited me and other motorists. Had I died before now, I would not have had to shoulder the financial burden incurred by the policy.)

Without the oil-price increases, inflation was kept low even though global oil prices were high. This sounds good for the time being, when recent oil-price spikes are threatening the cost of living of people worldwide.

Living in London for some time, Thaksin should also know how to handle the baht's appreciation. With no business in London, I assumed he supported himself financially by money wired from Thailand. Although a billionaire, he should also know that the strong baht makes life easier for Thais who can buy imported stuff at cheaper prices.

Who could be a better chief of the economic advisory team than Thaksin? But is the position something that businessmen want him to accept?

achara_d@nationgroup.com

The Nation