Member of the House of Representatives Commission XI Mukhamad Misbakhun asked the Directorate General of State Assets (DJKN) of the Ministry of Finance to pay close attention to the fraudulent practices of obligors and debtors of Bank Indonesia Liquidity Assistance (BLBI) in controlling assets that had actually been confiscated by the government. According to him, usually BLBI obligors and debtors use other parties as vehicles to regain control of assets that have been confiscated by the state. The Golkar Party legislator explained that there was a Master Settlement and Acquitition Agreement (MSAA) and Master Refinancing and Note Issue Agreement (MRNIA) scheme to return state assets in order to settle the BLBI case.

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To that end, the National Bank Restructuring Agency (IBRA) has confiscated various assets from BLBI obligors and debtors. After IBRA was dissolved, the various confiscations were handed over to the Asset Management Company (PPA).

"The provisions are clear that the old owner may not become the owner of the assets again, but the vehicling process occurs," said Misbakhun in a written statement, Thursday (27/1/2022).

Misbakhun gave an example of a textile factory in Solo, Central Java, which was previously confiscated for the recovery of state assets. As it turned out, the old owner could own the factory again.

“How is it possible after being bought by a notary, return to the old owner. If the government wants to sue, it can," he said.

Misbakhun emphasized that the state spent a lot of money on BLBI. This is because the disbursed BLBI funds reached Rp 600 trillion.

"In my opinion, more serious attention should be paid to this issue," he said.

The DPR RI member added that the government and BI still bear the burden of disbursing the BLBI. In addition, the government has not yet paid the recap bond to BI with an interest rate of 0.01 percent.

“BI can't do anything other than make it a hedge. This is a very serious problem regarding our debt burden," he said.

Previously reported, the Director General of State Assets (DJKN), Rionald Silaban, admitted that some assets confiscated in the Bank Indonesia Liquidity Assistance (BLBI) case were returned to their former owners.

In fact, these assets were previously in the hands of the government. This happened before the BLBI Task Force was formed.

"Earlier, something was said about the old owner regaining control of his assets, that's true (it happened)," said Rionald in a Hearing Meeting with Commission XI DPR RI, Wednesday (26/1/2022).

As for keeping this from happening, the man who also serves as Chairman of the BLBI Task Force will be more selective in viewing buyers of confiscated assets.

Later, the buyer will need to sign that there is no connection with the former owner or the owner whose assets were confiscated.

"So indeed, when selling assets, both assets and credit assets, there is a stipulation signed that this is not related to the old owner," said Rio.