BTN Requests Additional Liquidity, Purbaya Says Application Letter Hasn't Come In

Minister of Finance Purbaya Yudhi Sadive. (Photo: ANTARA)

JAKARTA - Minister of Finance Purbaya Yudhi Sadive expressed his concern about the request for additional fund placement from PT Bank Tabungan Negara Tbk (BTN).

He said that BTN had not submitted an official letter and the previous absorption of funds had not been optimal.

Just so you know, BTN previously obtained a fund placement of IDR 25 trillion to support lending, especially in the housing sector.

"From the first Rp55 trillion, the absorption in Mandiri has been 100 percent distributed, BRI is 100 percent, BNI is 68 percent, BTN is only 41 percent, why are they asking again? Strange too," said Purbaya at the KiTa State Budget event, Thursday, November 20.

"He added, "Yes, he has entrusted it, BTN, yes, he said that the letter has been completed, we will give it," he continued.

Purbaya emphasized that any additional request for funds could only be considered after the official document was submitted and the previous distribution performance was evaluated.

The government also considers banking liquidity conditions and the effectiveness of interest rate transmission to the community.

On that occasion, Purbaya explained, the government was watching the weakening growth of primary money.

"We'll see first the growth of primary money, M0, the base money in October fell slightly to 7.7 percent compared to last September which was 13.3 percent, so we think this should be pushed upwards again liquidity in the system," said Purbaya.

As an anticipatory measure, the government has put back funds on a number of banks.

"Yesterday, we transferred some of our money to banks in the amount of Rp. 76 trillion, Rp. 25 trillion in Mandiri, Rp. 25 trillion in BRI, Rp. 25 trillion in BNI, Rp. 1 trillion in Bank Jakarta, BTN has not yet been distributed because the letter has not arrived, he just wants to look like it," he said.

Sebelumnya, Direktur Utama BTN Nixon LP Napitupulu menyampaikan pihaknya sedang menyiapkan surat permohonan tambahan penempatan dana.

BTN berencana mengajukan penambahan likuiditas kepada pemerintah melalui Kementerian Keuangan.

“Kami lagi ingin mengajukan surat, tetapi belum tahu disetujui atau tidak disetujui, namanya usaha kan boleh saja, ya,” ujarnya.

Dia menambahkan, BTN berencana meminta tambahan likuiditas antara Rp5 triliun hingga Rp10 triliun.

Nixon mengungkapkan dana penempatan sebelumnya sebesar Rp25 triliun telah tersalurkan seluruhnya pada awal November dan sekitar 70 persen dana tersebut dialokasikan untuk pembiayaan perumahan, sementara sisanya digunakan untuk segmen terkait lainnya.

Previously, the President Director of BTN Nixon LP Napitupulu said that his party was preparing a letter of application for additional fund placement.

BTN plans to apply for additional liquidity to the government through the Ministry of Finance.

"We still want to submit a letter, but we don't know whether it is approved or not, the business name is okay, yes," he said.

He added that BTN plans to ask for additional liquidity between IDR 5 trillion and IDR 10 trillion.

Nixon revealed that the previous placement funds of IDR 25 trillion had been disbursed entirely in early November and about 70 percent of the funds were allocated for housing financing, while the rest were used for other related segments.