The powerful lobbying group the Indonesian Chamber of Commerce and Industry (Kadin) on Tuesday dissolved the high-profile Committee for National Economic Recovery (KPEN).
To take over KPEN's duties and a number of other important areas of the economy, Kadin will set up the Committee for the National Economy (KEN).
Kadin chairman M. S. Hidayat said, "KPEN has done a good job in dealing with the economic crisis in the country, but now its existence is no longer relevant."
KPEN was established on Sept. 5, 2000, by several business associations and members of Kadin with the main objective of replacing the now-defunct National Business Development Council (DPUN).
KPEN was made up of 32 people, most key business figures from various sectors such as Sofyan Wanandi, who chaired KPEN, James Riady, Subronto Laras, Sunyoto Tanudjaja and Yusuf Faisal.
Hidayat said KEN would take over KPEN's work, providing insight on situations in the field to Kadin, as well as informing the public about the government's economic policies.
Hidayat will take over the role of KEN's chief coordinator, managing heads of divisions in four different key areas of the economy with the help of a secretary, Trihono Sastrohartono.
Division I for the development of the energy, oil and gas and non-oil and non-gas sectors is headed by Arifin Panigoro, the founder of Medco.
Head of Division II, dealing with the development of trade and industry, is Sofyan Wanandi.
KEN's Division III for the development of banking and financial sectors is headed by Agus Martowardoyo, the president director of Bank Mandiri.
The other division, which deals with medium and small-scale businesses, is headed by Tony Sumartono.
Members of KEN include all the members of Kadin, as well as other key business figures, including Jacoeb Oetama, Kartini Moelyadi, D. E. Setijoso and Gunadi Sinduwinata. (lva)