When manipulation of import controls threatened abuses, Dr. PUEY requested leave but instead was posted to the Royal Thai Embassy in London. Promoting foreign investment in industry for his country, he also mastered the intricacies of the world tin market, winning an increase in Thailand's quota and election as Vice-Chairman of the International Tin Council.
The Revolutionary Party that took power in Thailand in 1958 brought Dr. PUEY home to direct a new Budget Bureau and Fiscal Policy Office. In 1959, when a bank note printing scandal forced resignation of the incumbent, he was made concurrently Governor of the Bank of Thailand. Among the cautious yet continuing reforms he introduced were the Commercial Bank Act of 1962, low interest financing of raw material stocks for industry and creation of a central planning agency. Through this agency he initiated construction of highways to open inaccessible land for diversified farming, installation of an adequate drainage and sewerage system for Bangkok, and improvements in education to meet growing manpower needs. Over the past year he has also served as Dean of the Faculty of Economics at Thammasat University.
Exemplary in the conduct of his personal affairs, Dr. PUEY, his wife and three sons live modestly on his salary as Governor of the Bank. He has avoided participation in tempting business ventures and gives earnings from his other posts to deserving people and social services. Repeatedly jeopardizing his career to abide by principle in defense of the public interest, he has become perhaps the most respected civil servant in Thailand.
In electing PUEY UNGPHAKORN to receive the 1965 Ramon Magsaysay Award for Government Service, the Board of Trustees recognizes his dedication, unquestioned integrity and high order of professional skill brought to the management of Thailand's public finance.