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Formed, the Committee to Handle JPSK

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Marzuki Alie said that Speaker of the House, the government and parliament agreed to form a small team preparing the relevant draft legislation package associated with handling the financial crisis and domestic financial sector development. The package includes the Financial System Safety Net bill or JPSK, Draft Financial Services Authority, and the Bill of Bank Indonesia.

"I hope this can be done by producing the best solution," Marzuki said at a joint press conference with President Susilo Bambang Yudhoyono after following a consultative meeting between the government and Parliament, Wednesday (07/14/2010) at the State Palace, Jakarta.

Meanwhile, the President hopes there is an effective process and delivery device legislation necessary if Indonesia is blown crises. The President also encouraged the acceleration step in the discussion and settlement of the national legislative program.

Separately, Finance Minister Martowardjojo Agus said the third bill is a single entity. "It will all be aligned so that really was good governance and can perform its functions well," said Agus.

Agus target, the bill package can be completed as quickly as possible. He said, at the consultation meeting, it became one of the subject.

Agus previously been admitted to realize that the process of discussion until the ratification of the Bill into law a long time. On that basis, the Ministry of Finance set up a replacement government regulation Act (Perppu) on crisis management protocol involving BI.

At the same time, the Ministry of Finance and BI to enable early warning signals that a means to monitor developments in capital markets, banking, insurance, multifinansial, and foreign debt.

The government and BI had already revised the memorandum of understanding (MOU) in 2004 about a crisis response protocol that also involves the Deposit Insurance Agency (DIA). However, changes in the MOU was not signed.

The government in fact never issued Perppu Number 4 Year 2008 about JPSK. Perppu does not last long because the question in the Parliament. However, as a shield from the global financial crisis, the government has also provided special rules that are inserted in the State Budget Law 2009 Article 23.

Article 23 regulate certain emergency conditions that can be categorized as a crisis. This article is more solid than Perppu JPKS. However, as the decline of the global financial crisis, Indonesia had no shield against the crisis that may happen again.

It happened because Perppu Number 4 Year 2008 is only valid until the end of 2008 and Article 23 of Law Budget 2009 does not apply anymore.


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