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Vice President Megawati Wants IBRA to Prioritize

Translator

Editor

3 December 2003 08:10 WIB

TEMPO Interactive, Jakarta:The head of the Indonesian Bank Restructuring Agency (IBRA) I Putu Gde Ary Suta announced that Vice President Megawati Sukarnoputri wants the IBRA to immediately make a list prioritizing the settling of all its problems, following a limited cabinet meeting on the economic sector. All IBRA deputies will be asked to inventory all the agencies problems.

Suta said that the IBRA will never reach its targets under the old working system. In the next two and half-years, the old patterns will be changed to enable the IBRA to achieve most of the targets set by the vice president to settle the problems. Some attempts must also be carried out to shorten the restructuring process.

The Coordinating Minister for the Economy Burhanuddin Abdullah said that too much bureaucracy has slowed the work of the Committee on Financial Sector Policy (KKSK), the Oversight Committee, the Ministry of Finance and the IBRA. Considering this, the bureaucracy is likely to be decreased. “We’ll probably think of other ways,” Burhanuddin said. However, Burhanuddin declined to reveal the possibility.

When asked about the targets that are unlikely to be achieved by the IBRA under the old work pattern, Suta declined to comment. He merely said that the IBRA has limited time to settle all its problems. “The IBRA is a temporary agency whose tasks are to carry out a restructuring process. If the time is up, the IBRA must be disbanded,” Suta said. He added that despite the limited time and human resources, he was very optimistic in settling all of IBRA’s problems.

According to Suta, the vice president also instructed him to bear transparency in mind when prioritizing and managing the agency. At the next economic-sector meeting, at the beginning of July 2001, the vice president wants Suta to make a presentation regarding the condition of the IBRA and how the values within the agency should be maintained. “You have to consider the problems and tasks within the agency,” Suta said quoting the vice president.

The vice president reminded him to avoid overlapping the legal and restructuring process. According to Suta, Megawati wants the IBRA to coordinate with the National Police chief and the Attorney General’s Office (AGO). “We’ll heed this instruction and report on it in the next meeting,” Suta said.

Regarding tasks facing him as the new IBRA head, Suta said that he needs time to study the current problems. “After that, we’ll list the measures to be taken from the possibilities found,” Suta said. As an example, most of the credit restructuring within the IBRA has entered the Memorandum of Understanding (MoU) stage. According to Suta, such restructuring is supposed to be settled.



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