Arkhom is new finance minister

Arkhom is new finance minister

Arkom Termpittayapaisith is the new finance minister. (Bangkok Post file photo)
Arkom Termpittayapaisith is the new finance minister. (Bangkok Post file photo)

His Majesty the King has endorsed the appointment of Arkhom Termpittayapaisith as the new finance minister, ending the month-long vacancy left by the sudden resignation of his brief predecessor Predee Daochai.

The Royal Gazette announced his appointment on Monday, with immediate effect.

The former National and Economic and Social Development Council (NESDC) secretary-general is a familiar face in government. He was previously transport minister for the post-coup junta.

Mr Arkhom, 64, was one of the speculated replacements after Mr Predee abruptly stepped down on Sept 1, claiming health issues. Other speculated candidates were then-finance permanent secretary Prasong Poontaneat and Krairit Euchukanonchai, who is the board chairman of PTT Plc and Krungthai Bank.

Prime Minister Prayut Chan-o-cha last week denied any of them would be the new finance minister, but admitted the appointee would be a "famiiar face". 

Mr Arkhom graduated from the economics faculty of Thammasat University in 1977 and was awarded a master's degree in economics by Williams College in Massachusetts, in the US,  in 1983. 

After graduation, he served at the NESDC, a national economic planning agency, where he rose to the top job in 2010.

After the 2014 military coup, he was appointed a member of the lawmaking National Legislative Assembly (NLA).

Later that year, he resigned from the NLA after being appointed deputy transport minister.

He replaced ACM Prajin Janthong as the transport minister in August 2015. Two months later, he resigned as the NESDC chief.

As a deputy minister and minister of transport, Mr Arkhom was part of the economic team led at the time by former deputy prime minister Somkid Jatusripitak, although he had no links to Mr Somkid and was known as a trusted man of the prime minister.

He was succeeded in the portfolio by Saksiam Chidchob in July 2019 after the general election.

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