Thaksin's ex-economic tsar named Thai PM adviser

BANGKOK, Feb 15 (Reuters) Ousted Prime Minister Thaksin Shinawatra's economic tsar will head a panel to explain Thailand's ''sufficiency economy'' policy to foreign investors, the military-appointed government said today.

Somkid Jatusripitak, a former finance minister, will lead a nine-member committee to give a ''correct understanding'' of the policy of moderation and sustainable growth espoused by King Bhumibol Adulyadej, a government statement said.

Prime Minister Surayud Chulanont said Somkid had volunteered for the job.

''He is the best candidate because he worked in the past government and he can help explain the differences (in policy).

There is no contradiction,'' Surayud told reporters.

Foreign investor confidence has dived after a series of controversial measures imposed since a September coup, including capital controls, tighter foreign ownership laws and moves to override patents on foreign-made drugs.

Somkid, a US-educated former marketing executive who also served as commerce minister under Thaksin, was a key proponent of the populist, big spending, pro-free trade economic policies known as ''Thaksinomics''.

Aside from winning back foreign investors, analysts said Somkid's appointment may be part of a campaign by the interim government to weaken Thaksin's political base while the ousted leader is living in exile.

Somkid's reputation as a capable economic administrator could also provide a boost for a government which has seen its popularity drop in recent opinion polls.

''Although it is ironic, it is a tactic to kill three birds with one stone,'' Somjai Phagapasvivat, a political commentator at Bangkok's Thammasat University, told Reuters.

Somkid, 53, who has been tipped by Thai media to lead a new party in polls promised late this year, broke his public silence since the September 19 coup on Thursday with a lecture on the sufficiency economy at a Bangkok university.

''Several political groups have extended their good wishes, but it's not the right time to commit to anything. Everything remains unclear and the constitution is still in an embryonic stage,'' he told reporters when asked about his political future.

In his new role, Somkid said he would use his connections in the foreign business community to help ease the workload of the current administration.

REUTERS SP RN1433