BLBI Debtors’ Repayment Period Extended Again
Friday, 08 December, 2006 | 13:28 WIB

TEMPO Interactive, Jakarta: The government implied that it will extend again the period of repayment of eight Bank Indonesia Liquidity Assistance (BLBI) debtors. Now the repayment is handled by the Coordinating Team for BLBI Shareholders Settlement.

“The consequences will perhaps be like that (the settlement period extended). But we will await the decision (from the Coordinating Team for BLBI Shareholders Settlement) or after consulting with the House,” said Finance Minister Sri Mulyani Indrawati.

The Finance Department, she said, will also communicate first with the other team members of the Minister Coordinator of the Economic Bureau, the Attorney General and the National Police (Polri) Chief. According to her it is confirmed that the government still wants the repayment to be outside the court.

The Finance Minister stressed the government refused repayment with assets. Debtors must still repay the debt by cash and other liquidity.

“If they give out assets, it's complicated. We have an experience with the National Bank Restructuring Agency,” she said. “If they have assets, they may sell them by themselves. Then the money is handed to us,” she said.

On March 16, 2006, the Finance Minister issued a Decision Letter No. 151/KK/01/2006 whose point is to make it easy for eight BLBI debtors to settle their obligations by the end of December 2006. During the period, they are free from legal charges.

The eight debtors are Adi Saputra Januardy and James Januardy (Bank Namura Internusa), Agus Anwar (Bank Pelita and Bank Istismarat), Atang Latief (Bank Indonesia Raya), Lidia Muchtar (Bank Tamara), Marimutu Sinivasan (Bank Putra Multikarsa), Omar Puthirai (Bank Tamara) and Ulung Bursa (Bank Lautan Berlian). The total of the debts, which is the government version, is around Rp3.07 trillion.

The government and the debtors actually still argue about the amount of debts to be repaid. The difference is very large. Between each debtor and the government the difference can reach rp100 billion.

According to the minister, the government asked the Supreme Audit Agency (BPK) to help verify the government’s figures and the debtors. The government also asked the House political support. BPK's verification has been completed, but consultation with the House is hampered.

Agus Supriyanto and Ewo Raswa