JAKARTA - A number of masses representing the Nusantara Justice and Change Movement held an action in front of the Office of the Financial Supervisory Board (BPK) RI, Jakarta, Wednesday, April 22, urging an investigative audit on alleged problematic loans in the financing of the Poso HPP project involving the Kalla Group.
The action coordinator, Al Maun, stated that the financing of the project was not merely a technical banking issue, but concerned public interests because it involved state-owned bank funds.
"This is not just a technical banking issue, but a public issue. The funds used come from the state bank which in essence is the people's money," said Al Maun in his speech.
He assessed that financing of a large value by the consortium of the State-Owned Bank Association (Himbara) to corporations must be subject to the principles of prudence, transparency, and accountability. The lack of openness to information, he said, has the potential to trigger suspicions of conflicts of interest and moral hazard.
In addition, the masses also highlighted the alleged inequality in the distribution of financing, where large corporations were considered easier to access funding than state-owned enterprises in the construction and infrastructure sectors.
"Past experience shows that large credits can be a time bomb. When default occurs, the risk shifts to the burden of the state and society," he said.
In the action, the masses conveyed a number of demands, including asking for a thorough investigative audit of the funding of Himbara to Kalla Group projects, the transparency of the syndicated credit structure, and encouraging the KPK, BPK, and the Financial Services Authority (OJK) to conduct an independent audit.
They also rejected allegations of special treatment for certain corporations and emphasized that SOEs banks must side with the public interest.
"Development is not only measured by large projects, but also the integrity of its financing. The state should not be a silent guarantor for the interests of a few parties," said Al Maun.
Jusuf Kalla's clarification
Responding to the issue, the 10th and 12th Vice President of the Republic of Indonesia, Jusuf Kalla, previously denied the news of a bad loan at his company.
"My company has been around for 75 years. Not one of Hadji Kalla has ever had a bad credit," said Jusuf Kalla at a press conference in Jakarta.
He confirmed that the Kalla Group had bank loans of around IDR 30 trillion. However, according to him, the loans were in good condition and had never experienced payment delays.
Jusuf Kalla explained that most of the credit was used for the construction of hydropower plants in a number of regions, which are part of the government's renewable energy program.
He also regretted the alleged leakage of information on the company's credit to the public and said it could violate banking confidentiality provisions.
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