Sri Mulyani Brings Good News: BLBI Task Force Seizes Rp110 Billion BLBI Funds From Conglomerate Kaharudin Ongko, Entered The State Treasury Yesterday

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said that the Bank Indonesia Liquidity Assistance Task Force (BLBI) has succeeded in achieving significant results in handling state collection rights to debtors and obligors.

Most recently, the Task Force managed to confiscate funds amounting to Rp110 billion from one of the big obligors, Kaharudin Ongko, who was involved in the BLBI case from the National Commercial Bank.

"Today, we would like to convey that the debtor of PKPS (Shareholder Obligation Settlement) named Kaharudin Ongko is an obligor owner of the National Commercial Bank," he said in a virtual press conference, Tuesday, September 21.

According to the Minister of Finance, the billing for Kaharudin has been carried out since 2008. However, the value of fulfilling the obligations carried out by Kaharudin is still far from the amount that must be replaced.

"Until now, the rate of return on the debts concerned is very small," he said.

For this reason, the Ministry of Finance and related ranks have taken decisive steps so that the process of paying off state debt can run as expected.

"A forced effort was made by the state receivables affairs committee against the debtor through a forced letter and the prevention of traveling abroad," he said.

The Minister of Finance added that the government has the right to take firm action because Kaharudin is bound by a binding legal deed related to the BLBI issue.

"There has been an execution of some of the material guarantees, both in the form of fixed and movable assets submitted by the debtor concerned in accordance with the agreement signed in the master pre-financing and notes issues agreement on December 18, 1998. So in this case the person concerned has signed and is now we do the billing based on the agreement, “explained the Minister of Finance.

In detail, the state treasurer explained this on September 20, the Task Force confiscated and at the same time disbursed Kaharudin's assets in the form of an escrow account at a national private bank.

The amount of the escrow account was Rp.664.97 million and the escrow account in US dollars was 7.63 million US dollars or equivalent to Rp.109.50 billion. So that the funds confiscated from the boss of the National Commercial Bank reached more than Rp110 billion.

“This is an escrow account that we confiscated and we disbursed to then go into the state treasury. The confiscated proceeds have now been entered into the state treasury since yesterday afternoon," said Minister of Finance Sri Mulyani.