President Joko “Jokowi” Widodo has extended the term of the Bank Indonesia Liquidity Assistance Fund (BLBI) Task Force until 31 December 2024 over technicality. The extension is stipulated in Presidential Decree No.30/2023, which amends Presidential Decree No. 6/2021 in conjuntion with Presidential Decree No.16/2021 which stipulates the Task Force's term lasted until 31 December 2023.

The main reason for the extension of the BLBI Task Force's term because the amount of the reclaimed assets was only worth Rp. 35.196 trillion or US$ 2.27 billion, far below the target of Rp. 110.454 trillion or US$ 71 billion . "Taking into account the BLBI Task Force's target of IDR 110.454 trillion (US$ 71billion) , the Task Force's acquisition reached 31.87%," BLBI Task Force Chairman Rionald Silaban said in a media statement on January 2, 2024.

In detail, the BLBI Task Force's achievements until the end of 2023 are divided into asset acquisition and non-tax revenue. The number of assets that have returned to the state is 43.5 million square meter (m2) of land. The estimated value is equivalent to Rp. 35.196 trillion or US$ 2.27 billion.

The form also varies. Based on BLBI Task Force data, the value of asset acquisition and PNBP (non-tax state revenues) are Rp 1.3 trillion (US$ 84 million) in the form of money (goes to the state treasury), Rp17.3 trillion or US$ 1.11 billion, in the form of confiscated assets and delivery of collateral/ other assets, and Rp 9.5 trillion or US$613 million in the form of physical asset acquisition.

Then, Rp3.75 trillion or US$ 242 million is in the form of asset transfer to ministries/institutions and local governments and Rp3.15 trillion or US$ 203 million is in the form of non-cash state capital injection (PMN).

Rionald said the BLBI Task Force's term is extended because it is considered potential for the return of state rights from obligors/debtors that requires comprehensive handling. "In addition, collaboration between agencies that are members of the BLBI Task Force has been established and proven to be able to form an effective business process to support the settlement of BLBI assets with the complexity of the problem," said Rionals, who also serves as Director General of State Assets at the Ministry of Finance.