Purbaya Uncovers Allegations of Export Price Manipulation, the Prosecutor's Office and BPKP Have Moved

JAKARTA - Finance Minister Purbaya Yudhi Sadewa revealed that the government was recalculating the value of exports of a number of large companies that were suspected of recording lower export prices.

Purbaya said the joint team involving the Prosecutor's Office and the Financial and Development Supervisory Agency or BPKP had been working for the last two to three months.

"We have been on the road for two months, three months ago," said Purbaya after a limited meeting with President Prabowo Subianto at the Presidential Palace Complex, Jakarta, Thursday, May 21.

According to the Minister of Finance, the government is re-examining the export value of several companies for several years.

"I have a team with the Prosecutor's Office, with BPKP, to recalculate the value of their exports several years back," he said.

Purbaya said the data owned by the government was very strong. He did not specify the names of the companies that were under investigation.

"If you look at it, there is indeed such a thing, and the data is very strong," he said.

According to Purbaya, the findings could have a positive impact on tax revenue, export value, and the value of companies listed on the exchange.

"The impact will be good later on taxes, on our exports, and if the company is on the exchange, to the value of the company," he said.

He also alluded to the alleged game by the company's owner. According to Purbaya, export profits will later go to the company so that profits can increase.

"Previously it was usually played by the owner. Now it can't. He will enter the company for export, so his company will be profitable later," said Purbaya.

When asked whether the companies involved would be sanctioned, Purbaya did not answer firmly. He said he was still waiting for the results of the team's report.

"I'm still waiting for the report. But the team has been on the road for two, three months ago," he said.