Rizal promises a quick decision-making process<\/p>\n
JAKARTA (JP): Coordinating Minister for Economic Affairs Rizal
\nRamli vowed on Monday to adopt procedures to facilitate efficient
\ndecision making in a bid to accelerate the country's economic
\nrecovery.<\/p>\n
Rizal said that swift action was crucial for the government
\nand the Indonesian Bank Restructuring Agency (IBRA) to achieve
\nthe proceeds target for this year.<\/p>\n
\"We should accelerate the (decision making) process to achieve
\nthe (IBRA) target. Previously the decision making process was
\nless efficient than expected. Now decision making will be
\nprompt,\" he told a press conference held to explain the result of
\nthe first meeting of President Abdurrahman Wahid's new economics
\nteam.<\/p>\n
IBRA is expected to raise Rp 18.9 trillion (US$2.30 billion)
\nin cash from sales of its assets to help finance the state budget
\nending in December. But so far the agency has only raised around
\nRp 7.9 trillion.<\/p>\n
Rizal was optimistic that IBRA could meet the target despite
\nthe limited time available.<\/p>\n
Asked if he would agree for IBRA to seek a fire sale approach,
\nhe said: \"There are many ways to achieve the target. We'll try
\nto get optimum prices.\"<\/p>\n
Rizal expects market sentiment to continue to improve,
\nallowing IBRA to get fair prices for its assets.<\/p>\n
He also expects the government privatization program to be
\naccelerated in the remaining period of the budget year.<\/p>\n
The government initially planned to raise some Rp 6.5 trillion
\nthis year by privatizing eight companies, but, so far, none have
\nbeen sold.<\/p>\n
Rizal said that the current state budget would benefit from
\nthe windfall of soaring oil prices.<\/p>\n
He explained that from now onward the members of the economics
\nteam would not be allowed to debate government economics policies
\nin the media.<\/p>\n
He said that debates should occur only in the meeting room.<\/p>\n
\"I'm the official spokesman for government economics policy,\"
\nhe said.<\/p>\n
He also said that no economics policy should be issued by the
\npresidential office without prior discussion by his office.<\/p>\n
\"We must have a consistent policy to revive confidence,\" he
\nsaid, pointing out that the recent issuance of a presidential
\ndecree banning foreign investment in local multimedia business,
\nthen reversing that position only days later, was one example of
\ninconsistency.<\/p>\n
Rizal explained that the economics team would meet every
\nMonday morning and results would be immediately discussed with
\nVice President Megawati Soekarnoputri. He said that his office
\nwould issue a press release or hold a press conference in the
\nafternoon to explain the results of the meeting.<\/p>\n
He said that every Wednesday, he would meet with Megawati and
\nCoordinating Minister for Politics, Social and Security Affairs
\nSusilo Bambang Yudhoyono.<\/p>\n
A Cabinet meeting was scheduled for Thursday, he continued.<\/p>\n
\"So this train will be moving fast. Pessimists will be left
\nbehind,\" he said.<\/p>\n
Elsewhere, Rizal said that he had ordered the members of the
\nnew economics team to make preparations for the exchange of ideas
\nwith the International Monetary Fund, World Bank and Asian
\nDevelopment Bank to improve the role of the multilateral
\ninstitutions here.<\/p>\n
\"I have talked with Stanley Fischer (IMF deputy managing
\ndirector) by phone over the weekend and he supported the exchange
\nof ideas and discussions,\" he said.(rei)<\/p>",
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