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