Even Though Confiscated, The Government Ensures That Texmaco Schools Continue To Operate

STT Texmaco (Photo: Google map)

JAKARTA - The government through the Minister of Finance (Menkeu) Sri Mulyani emphasized that the confiscation of Texmaco Group assets related to the Bank Indonesia Liquidity Assistance (BLBI) case did not immediately transfer all operational functions within it.

This was conveyed by the Minister of Finance in connection with the existence of two educational institutions under the management of Texmaco which were also confiscated by the state.

“In today's confiscation, there was a technical high school and a vocational high school owned by Texmaco. This school will continue to operate as usual, but the assets will be taken over by the state," he said at a press conference in Jakarta, Thursday, December 23.

According to the Minister of Finance, this step is intended so that learning and teaching activities can continue as usual without being affected by the transfer of rights from the occupied land.

"The government will coordinate with the relevant ministries so that schools can continue to run and the community is not harmed. However, obligations to the state can be gradually returned," he said.

Meanwhile, the two educational institutions in question are located in West Java, namely the Texmaco Subang High School of Technology (STT) and the Texmaco Subang Vocational High School (SMK).

As previously reported, the government stated that the Texmaco Group has a BLBI debt of Rp29 trillion and US$80.5 million. However, Texmaco claims that it only has an obligation of IDR 8 trillion.

Meanwhile, a number of assets that were successfully controlled by the state were 587 plots of land located in five locations, namely in Subang Regency, Sukabumi Regency, Pekalongan City, Batu City, and Padang City with a total area of 4.79 million square meters.