W

hen former banker Agus Martowardojo replaced reform icon Sri Mulyani Indrawati as finance minister last year, doubts lingered if he could live up to her legacy.

One year later, Agus hushed his critics by maintaining the reform effort — if not expanding it — by aggressively keeping graft and collusion out of his ministry.

But his achievements may cost him his job.

“There’s some information floating around that the President is considering removing Agus from the Cabinet or rotating him to another ministerial post,” said legislator Achsanul Qasasi of President Susilo Bambang Yudhoyono’s Democratic Party on Friday.

“The information has been widely circulating among party executives over the last few days,” said Achsanul, who is also deputy chairman of the House of Representatives Commission XI for financial affairs.

However, Achsanul refused to comment on the reasons behind the rumored plans.

Golkar politician Harry Azhar Azis, who has complicated ties with Agus, had said Agus was not the right man for the Cabinet due to his lack of macroeconomic knowledge.

A source within the Democratic Party said the President was still finalizing his plan for the Cabinet, mulling the possibility of promoting Agus to coordinating economic minister, a position with less authority over issuing and executing policies.

He said Agus’ decision to fly to Paris, France, to attend a G-20 preparation meeting despite the President’s instructions for all ministers to remain in Jakarta until the announcement of the Cabinet shake-up, could indicate that Agus would remain in the Cabinet but in a different role.

“Hatta Rajasa [current coordinating economic minister] may leave his job to focus on preparing for the 2014 elections, but the scenario is still being finalized,” the source said.

Speculations have also circulated that Investment Coordinating Board chairman Gita Wirjawan would replace Agus, who would then become state-owned Enterprises minster, replacing Mustafa Abubakar.

Golkar Party politicians, who contributed to Sri Mulyani’s ousting, are being blamed for the push for Agus’ removal, particularly due to his refusal to allow Bakrie-linked companies secure a 7 percent stake in gold mining firm PT Newmont Nusa Tenggara.

Bakrie family head Aburizal Bakrie is chairman of the Golkar Party, which supports Yudhoyono’s coalition camp.

“Agus did a great job [on the Newmont case]. No more finance ministers should be sacrificed to political pressure,” University of Indonesia economist Chatib Basri said.

Chatib, who is also an advisor to Vice President Boediono, added, “The reshuffle is not a matter of performance but rather politics.”

“Performance-wise, Pak Agus is pushing microeconomic reforms at the ministry. There are efforts to improve customs and excises and taxation, which we really want to see.”

Agus rotated the plain-speaking Fuad Rahmany to the tax office from capital market watchdog Bapepam-LK earlier this year and appointed a young and energetic Agung Kuswandono, who has tackled a number of smuggling attempts, to head the customs and excise office.

Several ministry officials have been deactivated due to corruption allegations, and Agus has initiated an online system for whistle-blowers to report misdemeanors and unlawful practices by his ministry’s staff.