Dahlan Iskan: Many Are Suddenly Rich from the Game at BLBI
Former Minister of State-Owned Enterprises as well as a senior journalist, Dahlan Iskan said that many suddenly became rich from the Bank Indonesia Liquidity Assistance Fund (BLBI). BLBI funds were given to banks that were dying during the 1997-1998 crisis.
Unfortunately, according to Dahlan, a mass crime occurred from the BLBI funds. No doubt many suddenly rich from there. However, some have gone to prison and some are still being pursued by the government.
"Many also suddenly became rich from games around BLBI," said Dahlan through his writings on the dismay.id blog, quoted by FGM.
The owner of the Indonesian National Trade Bank (BDNI), Sjamsul Nursalim, explained that Dahlan was among those being chased. According to him, he fled to Singapore with his wife and became a fugitive.
"The largest shrimp pond in the world, Dipasena, in Lampung, is neglected. It's a mess. But the paper industry is still growing rapidly. Becoming one of the giants in Asia. It has also expanded into various other businesses. Nursalim's son is the one who manages it. His father controls it from Singapore," he said. However, in April this year it was called Dahlan, a blessing from the sky that came down to Sjamsul Nursalim. The Corruption Eradication Commission (KPK) issued an Order to Terminate Case Investigation (SP3) for suspect Sjamsul Nursalim. The Supreme Court considers the BLBI case not criminal but completely civil.
With the release of Sjamsul Nursalim, Dahlan assessed that the desire to imprison anyone would fail.
"So President Jokowi formed the BLBI money collection, Task Force. Coordinating Minister for Political, Legal and Security Affairs, Coordinating Minister for Maritime Affairs and Investment, Coordinating Minister for the Economy were included in it. Also the Minister of Finance and Menkum HAM," said Dahlan.
According to him the task force is very strong. He also praised the fact that the government is observant that there are old bills that can still be chased and the amount is quite large.
"It turns out that a mass crime has occurred: the aid funds from Bank Indonesia have flowed to companies owned by the bank owners themselves," In the end, the 1998 monetary crisis continued, ravaging the Indonesian economy.
"The monetary crisis is still happening. It's very bad. The banks are still not strong enough to survive. The economy is in disarray. The rupiah has become Rp. 15,000/dollar. Politics is chaotic. Until President Suharto, who is so strong, steps down from the palace," he said.
The next president of Indonesia was also inherited by what Dahlan called poisonous honey, namely whoever the president after Suharto had to complete the BLBI.
"The BPK audit concluded that from Rp 147.7 trillion, of which Rp 138 trillion went everywhere. Including the company itself. That is what is considered detrimental to the state," added Dahlan.
The weakening of the rupiah against the United States (US) dollar was getting thicker in mid-trading on Wednesday (8/9/2021).
The release of data showing that the Indonesian people are increasingly insecure about the economic condition has put pressure on the rupiah.
According to Refinitiv data, the rupiah opened trading by weakening 0.14% to Rp 14,230/US$. The depreciation of the rupiah then got thicker by 0.39% at Rp 14,365/US$.
At 12:00 WIB, the rupiah was at Rp 14,260/US$, down 0.35%.
Indonesian people are increasingly insecure in facing the current economic situation and the next few months. This is reflected in the Consumer Survey conducted by Bank Indonesia. In August 2021, the Consumer Confidence Index (IKK) was at 77.3. A decrease compared to the previous month which was 80.2.
The IKK uses the number 100 as the threshold. If it is below 100, it means that consumers are pessimistic about the current economic outlook for the next six months. The Bank Indonesia Consumer Survey in August 2021 indicated that consumer confidence in economic conditions was still on hold, in line with the continued mobility restriction policy during the survey period to address the spread of the Delta Covid variant. -19. This is reflected in the Consumer Confidence Index (IKK) in August 2021 of 77.3, lower than 80.2 in July 2021," said BI's written statement released Wednesday (8/9/2021).
In the rest of today's trading, the rupiah still looks difficult to rise. This can be seen from the movement in the non-deliverable forward (NDF) market, which is weaker this afternoon than just before the opening of trading this morning.
Exchange Period at 8:54 WIB Exchange Rate at 11:54 WIB
1 Week Rp14,227,00 Rp14,247.0
1 Month Rp14,273.00 Rp14,300.0
2 Months Rp14,317.00 Rp14,344.0
3 Months Rp14,360.00 Rp14,371.9
6 Months Rp14,499,00 Rp14,514.9
9 Months Rp14,611.00 Rp14,681.0
1 Year Rp14,766.00 Rp14,792.0
2 Years Rp15,419.00 Rp15,479.0
NDF is an instrument that trades currencies within a certain period of time with a certain reference rate. Previously, the NDF market did not exist in Indonesia, only available in international financial centers such as Singapore, Hong Kong, New York, or London.