House refuses to discuss redenomination bill

The House of Representatives’ commission XI overseeing finance and the banking sector says it will reject the redenomination bill should the government propose it be included in one of the 2012 priority bills.

Commission deputy chairman Harry Azhar Azis from the Golkar Party said Tuesday that it would be better for the government to draft a stock market bill and a revision to the 2009 Bank Indonesia Law.

Harry said the stock market bill was important due to the fact that the Financial Service Authority (OJK), a financial monitoring super body, would begin operating in 2013.

“The OJK will start monitoring the stock market in 2013. If we do not have any bill on stock markets to discuss this year, then when will we begin?” Harry said.

Finance Minister Agus Martowardojo said during a hearing with the commission that he would consider Harry’s input in his considerations and would discuss it with the law and human rights minister. (mtq)