Not Reaching Target, Jokowi Officially Extends BLBI Task Force Work Period Until December 2024

The BLBI Task Force confiscated assets (DOK of the BLBI Task Force)

President Joko Widodo (Jokowi) officially extended the working period of the Task Force for Handling State Collection Rights for the Bank Indonesia Liquidity Assistance Fund (BLB Task Force) until December 31, 2024 to optimize the handling and recovery of state collection rights for the remaining state receivables and property assets. The extension of the tenure is stated in the Decree of the President of the Republic of Indonesia Number 30 of 2023 concerning the Second Amendment to Presidential Decree Number 6 of 2021 concerning the Task Force for Handling State Collection Rights for Bank Indonesia Liquidity Assistance Funds. Meanwhile, the President's decision also changed the Decree of the President of the Republic of Indonesia Number 6 of 2021 in conjunction with the Decree of the President of the Republic of Indonesia Number 16 of 2021 which stipulates the term of duty of the BLBI Task Force until December 31, 2023. "The BLBI Task Force has been extended until December 31, 2024," reads Article 12 in the regulation, quoted on Sunday, December 31. In the context of completing and restoring state rights related to BLBI, the BLBI Task Force intensively collects debtors/obligors, blocking/confiscation/sales of collateral goods and/or other assets belonging to debtors/obligors, blocking business entities, and preventing overseas travel to debtors/obligors. Likewise, related to property assets, physical control and juridical security efforts are carried out as well as sales for the restoration of state rights. Meanwhile, the extension of the BLBI Task Force's tenure was pursued with considerations, including the potential return of state rights from obligors/debtors who required comprehensive handling. In addition, collaboration between agencies that are members of the BLBI Task Force has been built and has proven to be able to form an effective business process to support the settlement of BLBI assets with complex problems. By the end of 2023, the Task Force has managed to record assets and PNBP with an asset of 43,541,502.02 m2 or with an estimated value of IDR 35.196 trillion.

These include depositing PNBP from obligors/debtors to the state treasury, confiscation and physical control of assets, as well as handing over assets to Ministries/Institutions/BUMN/Pemda. This means that the BLBI Task Force still has to pursue the remaining Rp75.8 trillion of the total bill by the end of this year of Rp110.45 trillion.