Editorial

A gallery packed with journalists watching as former Vice President Jusuf Kalla, seated in the front row on the right, faced the House of Representatives special committee probing the PT Bank Century bailout. (AFP Photo)

Editorial: Focus on Our National Interest, Not Politics

The House of Representatives special committee investigating the bailout of PT Bank Century is scheduled to announce its temporary conclusions today, after nearly two months of intense questioning of senior government officials, Bank Indonesia employees, former Vice President Yusuf Kalla and senior police personnel.

Whatever the committee ultimately announces, one fact is certain: It will have far reaching implications for the banking sector, the economy and confidence in Indonesia’s legislative system. Information leaked over the weekend indicates that the report will outline serious violations from the initial decision to create Bank Century to the decision to save it because of possible systemic risk to the entire banking system.

Whether these violations will be grave enough to begin impeachment proceedings against President Susilo Bambang Yudhoyono or Vice President Boediono remains to be seen. But at least one opposition political party, the Great Indonesian Movement Party (Gerindra), has claimed that it has found enough evidence to begin such proceedings.

It is clear that the bailout violated certain procedures, and that shortcuts may have been taken to avoid a financial meltdown given the dire global economic conditions at the time. So while the committee is within its rights and indeed has a duty to highlight any wrongdoing, it must at the same time consider the bigger picture. Furthermore, the House has so far failed to reveal the much-anticipated paper trail of bailout funds that, certain legislators and critics have claimed, lead to the coffers of Yudhoyono’s Democratic Party.

Given these facts, the House committee must move swiftly to present its case, if indeed there is one, and then move on. The investigation has already distracted the country from more pressing issues such as infrastructure development, bureaucratic reforms, empowering the private sector and overhauling the education system.

To its credit, the central government, from Yudhoyono to Finance Minister Sri Mulyani Indrawati, have soldiered on bravely despite the political whirlwind around them. That the government managed to achieve most of its targets outlined under the 100-day program speaks volumes about its dedication and focus on the job at hand.

From the start, the House investigation into the bailout had the scent of being politically motivated. To dispel such perceptions and to preserve the integrity of the institution, the temporary conclusions and the final report must be consistent and comprehensive. The announcement of temporary conclusions has already been postponed twice due to disagreement among committee members on the outcome of the hearings.

Much is riding on the final conclusions of the House committee. The legislators involved must bear in mind the best interests of the nation and keep politics out of the equation when they present their case to the people of Indonesia.

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