Befuddled by banking policy
Befuddled by banking policy
From Merdeka
It's simply fantastic -- the lobbying of prominent bankers has relegated the government to second place. The government is like a shadow forced to follow in the bankers' steps. What have the bankers done? No less than delaying the repayment of the Bank Indonesia liquidity support loans, the amount of which is astronomical. Initially, the government granted a limit of five years to the bankers, but it has subsequently been reduced to one year.
It is impossible to understand with common sense how the return of that huge amount of people's money can be put on hold without any legal certainty. One year is not a short time and many things can happen in the meantime. Ultimately, it will only benefit a handful of people. It contrasts with the fate of the people who, unable to pay the installments on their house to the state savings bank (BTN) for a couple of months, are forced to cede their home to be auctioned by the bank. Subscribers to power supply by state electricity company PLN are having the same experience. Nonpayment of three consecutive monthly bills will plunge your house into darkness.
Once again, thumbs up for the government whose inconsistencies befuddle the people. It is proof that the government has not succeeded in abolishing collusion, corruption and nepotism (KKN).
President B.J. Habibie should therefore take firm measures:
1. The bankers should repay all their loans plus interest within six months. How they achieve that is their own affair. Surely a penalty on delays should be strictly applied. If they say their assets are worth Rp 1 billion and fetch Rp 100 million only, it is their business and not that of the government.
2. The assets submitted to the government remain in government hands. The value is not more than 30 percent of the value declared by the bankers.
3. The bankers can sell their assets but under government supervision.
4. If collusion or corruption is indicated, there should be no hesitation in dismissing the finance minister, the central bank governor as well as the Indonesian Bank Restructuring Agency (IBRA) officials.
TAUFIK KARMADI
Jakarta