Awaiting a better BCA

On Thursday, March 14, in the context of BCA divestment, the government, which controls 51 percent of BCA shares, decided to sell all its shares to the consortium led by Farallon Capital Management.

As the new management of BCA, Farallon should be able to answer the challenge to make BCA a bank that can revive the real sector, and not simply one that lives on the proceeds from the interest on bonds and Bank Indonesia promissory notes.

We have been tired by efforts to restructure the national banking sector. Over Rp 650 trillion has been injected in the form of bonds, but the national banking sector has yet to regain its sound condition.

We have not turned a blind eye to the fact that the interest accruing on the bonds that the state injects every year are spent on paying the interest on public deposits in banks. The number of community members with bank deposits, however, is far smaller than the 200 million Indonesians obliged to pay taxes to the state.

Farallon's duty isn't easy. It has to put at stake not only Rp 5.3 trillion of its capital to obtain 51 percent of BCA shares but also its credibility as a responsible investor.

It is unfair of us to judge Farallon before they have done anything, let alone intimidate them by suggesting the government should be able to take the shares back and sell them to another party if Farallon cannot meet the wishes of the public.

It is also improper for the bank's employees to continue making a fuss about the bank's ownership. If they want to be appreciated, they should demonstrate their capability as people who deserve to be valued. If they want to help the country, they should show their productivity so the bank could contribute more taxes.

Let's give an opportunity to the new proprietor of BCA to make the bank better and more professional.

-- Kompas, Jakarta