Who bears BCA's bond?

Who bears BCA's bond?

From Koran Tempo

The House of Representatives (DPR) has finally approved the
divestment of 51 percent of BCA's shares after arguing
persistently against the step. Thus, the government will no
longer be a majority shareholder in the bank. The divestment will
cause a sharp drop in the portion of government's ownership from
92 percent, when the government took over the bank's management.

Finance minister Boediono said that divestment was an
opportunity that should not arouse suspicion. State Minister of
State-Owned Enterprises Laksamana Sukardi promised, meanwhile,
that the divestment would be implemented transparently, fairly
and honestly, without any hidden agendas.

People are waiting for the fulfillment of these promises. Is
it true that the divestment of BCA's shares will create added-
value or benefit the nation and the country, instead of being
merely a sophisticated agreement that will only be detrimental to
the nation and country?

Why will BCA be sold soon after receiving a significant boost
from the conversion of the Bank Indonesia Liquidity Loan (BLBI)
and gaining a large profit from its operations? And the more
important question is, who will bear the government bonds that
were issued to save the bank when it previously belonged to the
Salim Group, and who will pay the interest?

Will the government bonds burden the people again? In the
transfer of share ownership or the sale of majority shares,
usually the buyers ask to be freed from paying companies' debts
and financial obligations. Thus, the old management or
shareholders are responsible for the payment of these
obligations.

The government should give clear, unambiguous information
about the divestment of 51 percent of BCA's shares to avoid
people's suspicion about the step.

TAUFIK KARMADI

Jakarta