Next govt 'should pick insider' for Bapepam chief

Next govt 'should pick insider' for Bapepam chief

President-elect Susilo Bambang Yudhoyono should appoint
someone from inside the Capital Market Supervisory Agency as the
organization's next chief, outgoing Bapepam chairman Herwidayatmo
says.

"I suggest the new president appoint a career employee of
Bapepam ... as is stipulated by the existing regulations, rather
than outside professionals," Herwidayatmo said on Wednesday.

"But it all depends on whether the new government judges
(Bapepam employees) to be more 'stupid' than other
professionals," he said.

Minister of Finance Boediono announced last month Herwidayatmo
would take up a new post at the World Bank to represent ASEAN in
the Washington-based organization for two years, effective on
Nov. 1.

Analysts, brokers and investors have complained about
Bapepam's weak law enforcement because of existing corruption in
the agency, and urged the government to immediately reform it by
hiring outside professionals. -- JP