Golkar Legislators Ask The Government To Track BLBI Debtor's Assets To Boil State Money Again

The confiscation of assets in Bogor carried out by the BLBI Task Force led by Maenkumham Mahfud MD. (doc the Ministry of Finance)

JAKARTA - Member of Commission XI DPR from the Golkar Party faction Mukhamad Misbakhun asked the government to track assets or asset tracing to return Bank Indonesia Liquidity Assistance (BLBI) funds.

BLBI is known to have been disbursed by Bank Indonesia (BI) to commercial banks during the 1998 monetary crisis worth IDR 144 trillion.

"It isgas in the sense of tracking assets so that the precedent of bankrupting the state through debt mechanisms between debtors and creditors through banking mechanisms does not repeat itself," said Misbakhun in a discussion at the DPR Media Center, Jakarta, Tuesday, March 28, which was confiscated by Antara.

According to him, the government must carry out asset tracing by tracking debt collateral assets and other assets that are still owned by BLBI debtors. This, according to Misbakhun, is to ensure controlled assets do not return to old owners with various existing schemes.

These provisions are regulated in the Completion Agreement for Shareholder Obligations (PKPS) consisting of 3 schemes, namely Master Settlement And Acquitition Agreement (MSAA), Master Refinencing and Note Issue Agreement (MRNIA) and Debt Recognition Deed (APU).

"In MSAA and MRNIA, it is not allowed at all costs to return assets to their owners," he said.

Misbakhun revealed that many incidents that repeatedly occurred, namely confiscated assets returned to old owners. He gave an example of a large textile factory in Solo which became a "patient" of the National Bank Restructuring Agency (BPPN).

The textile factory was purchased by a notary who, if traced, had a very difficult profile to become the factory owner. This is because the notary is a means for old owners to buy their assets back.

"The textile factory is facing the same situation when it is managed by the next generation to make the same efforts again, but now the scheme is not through the BPPN but the Suspension of Debt Payment Obligations (PKPU)," he said.

In addition, according to Misbakhun, there is physical control but the state does not control the security documents. For this reason, he encouraged the BLBI Task Force to prepare a profile of the assets.

"If a new person is owned by someone who is carried out with the right, productive activities to create jobs, the asset is released productively by the state. Assets that were previously productive must still be productive, continue to absorb labor, pay taxes to the state and contribute to the economy," he said.

Previously, the Director General of State Assets (DJKN) of the Ministry of Finance who is also the Chair of the Bank Indonesia Liquidity Assistance Task Force (BLBI) Rionald Silaban said that he had obtained a total refund value of IDR 28.53 trillion until March 25, 2023. This value consists of money and assets confiscated and controlled by the state, but the largest value of the refund is obtained from confiscated assets or goods collateral.

"In the form of confiscation of collateral and other assets amounting to Rp13.7 trillion, this is an estimated estimate figure," said Rionald Silaban during a working meeting with Commission XI of the DPR, in Jakarta, Tuesday.

In addition to confiscation of goods, the value of the return of BLBI funds was also obtained by the task force in the form of money which was then included in non-tax state revenue (PNBP) worth IDR 1.05 trillion. Then in the form of controlling property assets worth IDR 8.54 trillion, in the form of determining the status of use (PSP) and granting to ministries/agencies or local governments worth IDR 2.70 trillion, and non-cash state capital participation (PMN) worth IDR 2.49 trillion.