Fathan Qorib, Jazmi Adlan Bohari
The ongoing plan for PT Bank Mandiri Tbk (Mandiri) to acquire PT Bank Tabungan Negara Tbk (BTN), both state-owned (BUMN) banks, remains in limbo. This has arisen due to the House of Representative not yet having received any word from privatization committee formed by President Susilo Bambang Yudhoyono. As a consequence, the House currently has the perception that the BTN-Mandiri acquisition is currently no more than a notion.
Harry Azhar Aziz, Chairman of Commission XI at the House, said that the acquisition of shares in state-owned enterprises (BUMN) must follow certain procedures. The acquisition plan has to be proposed to the Government via the privatization committee which consists of the Coordinating Ministry for the Economy, the Ministry of Finance, the Ministry of BUMN and other related ministries.
“Regarding BUMN banks, you can’t just buy the shares. There are procedures,” said Mr. Aziz in Jakarta on Monday.
After the proposal is delivered, the privatization committee will hold a coordination meeting to analyze the acquisition plan. The committee will notify the related commissions at the House, in this case Commission VI which oversees BUMN and Commission XI which oversees finance, regarding the results of the meeting. The committee will have hold a meeting with the House.
Mr. Aziz further explained that to sell shares, there should be consultation with the workers’ union. This is necessary to avoid any negative prejudice from the union.
“I suggest the Ministry of BUMN be transparent on this issue,” he said.
Satya Wijayatara, Chairman of the BTN Worker Union, wants to see transparency in the BTN-Mandiri acquisition plan. Transparency means that there is communication with the representatives of the workers as a stakeholder.
“There should be dialogue involving all parties and all aspects,” he said.
However, until now this communication is yet to be established. Hence, the workers’ union is rejecting the acquisition plan. ”I think there is no urgency to conduct this acquisition plan.”
(kc)