Kemenkop Appreciates KSP Indosurya's Efforts To Fulfill Obligations Even In The Midst Of The COVID-19 Pandemic

Illustration. (Photo: Unsplash)

JAKARTA - The government, in this case the Ministry of Cooperatives and SMEs, as well as the parliament, appreciates the efforts to settle obligations by the Indosurya Savings and Loans Cooperative (KSP) in the midst of the COVID-19 pandemic. The problematic cooperative is considered worthy of using the Indosurya KSP settlement as a reference, resolving it through the courts and its founder willing to help the management complete their obligations to fulfill the court's decision.

Deputy for Cooperatives at the Ministry of Cooperatives and SMEs, Ahmad Zabadi, encourages troubled cooperatives to commit to comply with court decisions. For example, in the case of KSP Indosurya, cooperatives are required to continue the process of paying off installments to members according to the PKPU homologation decision that has been agreed upon and decided by the court in December 2020.

On the other hand, Zabadi appreciates cooperatives who continue to strive to complete their responsibilities, especially in the midst of difficult conditions due to the COVID-19 pandemic. The commitment of the cooperative is not only to rebuild the good image of the troubled cooperative, but also the image of the cooperative in general.

"So, the trust of members and the public in the cooperative will gradually increase," said Zabadi in a written statement, Thursday, October 15.

According to him, the COVID-19 pandemic has had a major impact on the erosion of working capital, decreased assets, and liquidity of cooperatives, with the main problems being capital (47 percent), sales decline (35 percent), and production being hampered (8 percent). This is based on the Ministry of Cooperatives and SMEs Survey in 2020.

"I have formed special teams to monitor cases and develop problematic cooperatives," he said.

INDEF economist, Eko Listiyanto said the same thing. He said, in completing the obligations of the cooperative management, it is also necessary to look at the capabilities, and how long the cooperative is committed to paying installments to thousands of its members.

"If it continues to be implemented, I think this will be a good step, and should be followed by other cooperatives. Because when there are cases, many people run away, especially small ones. But Indosurya is not small, I said the size of the cooperative, because it has a building. big one," he said.

According to him, in the case of KSP Indosurya, it was clear from the outset that the management had complied with the court's decision. He assessed that other cooperatives could do the same. From the case of KSP Indosurya, it shows that even with the pandemic situation, it turns out that it still complies with the applicable rules. This, he said, had to be done.

Furthermore, Eko said that all fields affected by the COVID-19 pandemic, including cooperatives, were in the savings and loan sector. This is because the real sector is affected. In general, the lower middle class people who borrow cooperatives have an impact on the pandemic, the implications for them.

"The term for continuity of installments is constrained due to various aspects. This is the same problem in the financial industry, yes, but cooperatives have more difficult challenges," he said.

Meanwhile, Member of Commission VI Achmad Baidowi assesses the need for a restructuring of cooperatives in Indonesia.

"There are also many cooperatives, such as the BMT NU cooperative in East Java, which properly carry out the functions of a cooperative as a savings and loan organization. A good cooperative like this must be maintained and nurtured by the government," he said.

Regarding KSP Indosurya, he hopes that the good faith of cooperatives that are facing problems, especially if there is a legal decision, will be carried out.

"Of course we would like to express our appreciation if there is such a responsible cooperative. But appreciation alone is not enough without being proven by good steps," he said.

Must be investigated

On different occasions, several legal experts also highlighted various attacks to discredit KSP Indosurya and its founders through media and social media. Suparji Ahmad, Legal Expert at Al-Azhar University, explained that KSP Indosurya can report and complain to the police.

The same thing was explained by Professor of Law at the University of Borobudur, Faisal Santiago and legal expert at Trisakti University, Abdul Fickar Hadjar. Both emphasized that even a person who is a suspect has the right to get legal protection from attacks on himself and his family in any form.

Faisal Santiago also considered that the attacks actually disrupted the peace agreement in homologation set by the court.

As previously reported, KSP Indosurya is still trying to implement the decision of the Commercial Court regarding homologation to pay installments to members' funds which amount to approximately 5,000 members.

Until October 2021, the Indosurya KSP Management emphasized that payments were still being made well as evidence of their commitment to carry out the judge's orders even though the COVID-19 pandemic added to the burden on the KSP management.

In the case of KSP Indosurya, the court determined homologation as a settlement of the agreement. The decision has been inkracht and stipulates the Homologation/Peace Decision No. 66/PDT.SUS-PKPU/2020/PN.Niaga.Jkt.Pst dated 17 July 2020 confirms that legally the peace between KSP Indosurya Cipta and all Creditors (whether participating in the PKPU Process or not) is binding (Vide Article 286 of the Law). Number 37 of 2004 concerning Bankruptcy and PKPU).