Severance pay of IBRA staff

Severance pay of IBRA staff

People know that the Indonesian Bank Restructuring Agency
(IBRA), from the time it was set up in 1998 until it was
dissolved last month, had been given special privileges.

IBRA was tasked not only to restructure ailing banks, but also
corporate credits. Unfortunately, its "overpaid" employees failed
to carry out their tasks as expected. The agency auctioned off
most of its unrestructured assets with an 80 to 90 percent
discount before it was dissolved on Feb. 27.

It is thus understandable for the people to be extremely
surprised by reports that IBRA had allocated Rp 237 billion in
severance pay for its some 5,000 employees.

Meanwhile, state aircraft manufacturer PT Dirgantara Indonesia
(DI) and state lead producer PT Tambang Timah have for years been
trying to settle their labor disputes.

The obvious disparities between the cases of DI, Tambang Timah
and IBRA has irked the people.

IBRA provided huge funds for its former employees at a time
when most of the Indonesian people are continuing to feel the
impact of the economic crisis.

We hear of many people complaining about the lack of justice
in the country. -- Bisnis Indonesia, Jakarta