State Seizes BLBI Assets In Karawaci 25 Hectares, Sri Mulyani: A Meter Of Rp. 20 Million, In Total, Trillions!

Minister of Finance, Sri Mulyani. (Photo: Doc. Setkab)

JAKARTA - Minister of Finance (Minister of Finance) Sri Mulyani said that the assets of Bank Indonesia Liquidity Assistance (BLBI) fraudsters seized by the state from obligors/debtors in Karawaci, Tangerang reached trillions of rupiah.

This was conveyed by the Minister of Finance during a press conference of the Ex-BLBI Asset Control Ceremony by the Task Force (Satgas) together with Coordinating Minister for Political, Legal and Security Affairs Mahfud MD.

“The property assets currently in Lippo Karawaci cover an area of 25 hectares. According to the Regent (Tangerang) 1 square meter costs around 20 million. So for 25 hectares, the value reaches trillions of rupiah,” he said Friday, August 27.

Not only in Karawaci, the government also confiscated the assets of BLBI fraudsters in a number of locations in Indonesia.

“Earlier, there were 49 plots of land located in four locations with a total area of 5,291,200 square meters. The locations are in Medan, Pekanbaru, Bogor and today we are physically present in Karawaci, Tangerang," he said.

On the occasion, the Minister of Finance explained that the current state losses from the central bank bailout 22 years ago reached Rp110.45 trillion.

Of this amount, to this day the government, called the Minister of Finance, is still providing funding for the return of funds to Bank Indonesia, both for the principal and interest.

For information, BLBI is an assistance scheme (loan) provided by Bank Indonesia to banks experiencing liquidity problems during the 1998 monetary crisis in Indonesia. This step is intended as a bailout so that banks have the ability to maintain cash flow when there is a wave of withdrawals by customers due to economic uncertainty.