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