Private sector wants new finance minister in place by end of month

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The private sector has urged the government to appoint a new finance minister as soon as possible, following the resignation of Predee Daochai from the post on Wednesday.

Federation of Thai Industries (FTI) chairman Supant Mongkolsuthree said a new minister should be appointed by the end of this month at the latest.

The ministry is the key factor in driving the economy, especially during the current economic crisis, he said.

The new finance minister must be someone who can work seamlessly with the private sector and with other economic ministers, he added.

Thai Chamber of Commerce chairman Kalin Sarasin said he believes Predee’s resignation will not affect private sector confidence.

He added that domestic sales of many products, including farm produce and electric equipment, are recovering.

He also backed Prime Minister Prayut Chan-o-cha to find the right person for the job, saying he believed the PM already had someone in mind. The successful candidate must have both a strong grasp of economics and also understand politics, said Kalin.

Gold Traders Association chairman Jitti Tangsitpakdi said it didn’t matter whether the new finance minister belonged to a political party or was an outsider since the only thing that counted was his or her talent in fiscal and monetary policy management.