Laksamana mulls replacing IBRA chief, awaits inputs
Laksamana mulls replacing IBRA chief, awaits inputs
JAKARTA (JP): State Minister of State Enterprises Laksamana
Sukardi said on Tuesday that he would consider replacing the
chairman of the Indonesian Bank Restructuring Agency (IBRA)
should the public call for it.
"I don't know yet, I am open to suggestions and will like to
hear the aspirations of the public," he said in response to
questions on whether he will replace IBRA's current chief I Putu
Gede Ary Suta.
"The presence of an IBRA chairman is of no importance to us,
what is important is good team work," he added.
On Monday, President Megawati Soekarnoputri placed IBRA under
the control of Laksamana, a staunch opponent of corruptors and
power abusers.
The move prompted an already growing speculation that Ary
Suta's less then two months term as IBRA chief was numbered.
Ary Suta was named IBRA chief late last June amid criticism
that the agency was slow in executing major debt restructuring
deals.
He replaced Edwin Gerungan, a professional banker who once
said that too much political interference had slowed IBRA's work.
IBRA is in charge of restructuring and selling assets it took
over in exchange for recapitalizing banks hit by the 1997
economic crisis.
Controlling assets worth some Rp 600 trillion (about US$71.4
billion), IBRA often has to contend with politically linked
conglomerates seeking favorable debt deals.
"In its fourth year, IBRA is still not working right. Instead
we see chairmen coming and going," Laksamana complained.
IBRA has been chaired by five chiefs, namely Bambang Subianto,
Glenn Jusuf, Cacuk Sudarijanto, Edwin and Ary Suta, since its
inception in 1998.
Laksamana said interference had hampered IBRA's work and
deteriorated the value of the assets it had to sell.
He said his job now was to expedite IBRA's asset sales and
debt restructuring to help fill the state budget deficit this
year.
Commenting on the changes in IBRA, he said an organization's
structure ought to conform to its mission and objectives.
"I don't want much changes. Its (IBRA's) work is already
running. What needs to be done is achieving better coordination,"
he said.
IBRA was previously under the control of the finance minister
whose job is now reduced to handling the country's fiscal
policies.
Laksamana said his taking over of IBRA was to ease the finance
minister's work load so that the minister could focus on securing
the state budget.
On privatization, he admitted the state budget target of about
Rp 6.5 trillion this year was a difficult one to meet.
"It depends on many factors, such as our macroeconomic
condition, the global economy, which is close to recession, and
regional autonomy. I can't guarantee anything," he said.
He also dismissed fears that his control over IBRA had been
politically motivated.
As a member of the country's largest political party, the
Indonesian Democratic Party of Struggle (PDI Perjuangan),
Laksamana said he would steer away from abusing his position to
serve his party's interests.
"In fact, I have to uphold the good name of my party," he
said.
Separately, the president of the Indonesian unit of U.S.-based
consultant firm PT Grant Thornton Indonesia, James S. Kallman,
said handing over IBRA to Laksamana had been a logical choice.
According to him, the state ministry of state enterprises and
IBRA shared the same goal of selling state assets.
"Since they have the same target, it will be best to put them
into one hand," he told the Post.
He added it was unlikely Laksamana would abuse his position at
the risk of tarnishing his good reputation.
Also, he said, Indonesia's more open press and the country's
non-governmental organizations would be sure to keep a close eye
on Laksamana's performance.(bkm/05)