TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

KPK seeks assistance in managing confiscated assets

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, November 21, 2016   /  11:16 pm
KPK seeks assistance in managing confiscated assets Deep talks: Attorney General M Prasetyo (left) talks to Corruption Eradication Commission (KPK) chairman Agus Rahardjo during a meeting on the management of confiscated assets in Jakarta on Nov. 21. (Antara/M.Agung Rajasa)

The Corruption Eradication Commission (KPK) is exploring the possibility of working with state institutions, including the Finance Ministry and Attorney General’s Office (AGO), to formulate the best method to manage assets confiscated from corruption cases it handles, the commission’s top official has said.

KPK chairman Agus Rahardjo said the absence of clear guidelines on the management of assets had often triggered problems for the antigraft body.

"The purpose of this coordinating meeting is to set a common understanding on the importance of a good management of confiscated assets to optimize their value," he said, referring to a three-day meeting on asset management, which started on Monday. Representatives of the Finance Ministry, AGO and other government institutions attended the meeting.

Agus further explained assets confiscated from corruption cases, in which their legal processes were not yet final and legally binding or "inkracht", could not be auctioned. That was why such assets could potentially lose a lot of value.

He said his commission currently needed a lot of funds to cover maintenance costs of confiscated assets, such as luxurious cars, hospitals and gas stations, while its budget allocated to handle such matters was relatively small.

Finance Minister Sri Mulyani suggested that the auction process of confiscated assets should be done as early as possible so that the money earned could be used to cover maintenance costs of the assets while waiting for court rulings on the cases of their owners. (fac/ebf)

Your premium period will expire in 0 day(s)

close x
Subscribe to get unlimited access Get 50% off now