Right action to take<\/p>\n
From Neraca<\/p>\n
Recently all newspapers carried a report that Bank Indonesia
\n(BI) had sustained losses of more than Rp 83 trillion in
\nconnection with the take-over of six problem-fraught banks. If
\nthis amount were allocated to foster small businesses or make
\navailable staple commodities for the ordinary people, just
\nimagine how many needy people would be helped. But that's what BI
\nhas done.<\/p>\n
The total real assets of the six banks are worth only Rp 35.1
\ntrillion, while their liabilities stand at over Rp 120 trillion.
\nBDNI is the worst offender in using up the people's money in the
\nhands of BI. After BDNI's financial records were audited, it has
\nbeen found that the bank has marked up its assets from Rp 6
\ntrillion to Rp 34 trillion and its liabilities from Rp 32.3
\ntrillion to Rp 48.2 trillion. A huge amount indeed!<\/p>\n
The losses referred to above have been incurred from BI's
\nparticipation in a bank take-over (BTO) process. Now, what has
\nhappened to BI's liquidity loan (KLBI) which has been disbursed
\nto banks whose operations have been suspended (BBO), liquidated
\nbanks and those under the supervision of the Indonesian Bank
\nRestructuring Agency (IBRA), including BCA?<\/p>\n
If such a huge amount of money is spent only on settling
\nbanking problems, which will benefit only a handful of people,
\nwhile people in general are facing the threat of starvation, is
\nit really the right thing to do? It is an open secret that many
\nin the banking circles have committed acts causing losses to both
\nthe people and the state.<\/p>\n
Therefore, the community is keen on finding truth in reports
\nfiled by a large bank like BCA. Has the bank really channeled
\nloans in the interest of the community or has it merely extended
\nthe credits in the interest of its corporate group? Also, does
\nthe book value of the assets truthfully reflect the assets' real
\nvalue?<\/p>\n
In order that the common people may not be burdened, it is
\nonly proper if the government review the guarantee it has
\nextended to private commercial banks. The government must make
\nsure that only the real assets of the banks get the guarantee and
\nthat this guarantee must be given only to state banks.<\/p>\n
Besides, the government must also demand that bank owners
\nshould account and be responsible for all their acts which have
\ncaused losses to the state pursuant to the criminal and civil
\ncodes. If necessary, their personal wealth must be confiscated.<\/p>\n
Last but not least, the government must ask IBRA and BI to
\naccount for the state funds, which obviously belong to the
\npeople, they have spent, even though this may have been done by
\nprinting fresh banknotes. If necessary, the BI governor must give
\nup his position.<\/p>\n
TAUFIK KARMADI<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/right-action-to-take-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }