KKN at Pertamina inflicts loss of US$163.8 billion
Thursday, June 8 2000 - 03:45 AM WIB
State oil and gas company Pertamina has suffered a financial loss of about US$163.8 billion due to KKN, the local acronym for corruption, collusion and nepotism practices, according to the company's president Baihaki Hakim as reported by Astaga.com on Thursday.
Speaking at a hearing with the Commission VIII of the House of Representatives (DPR) on Wednesday, Baihaki said that the KKN practices involved 159 oil and gas projects, which were carried out by the oil and gas company since early 1980s.
He said that the estimated losses suffered by Pertamina due KKN practices were based on the findings of the special team set up by the Attorney General Office. The investigation started last year but only one of them had been completed.
The case, which had been completed by the team, was the alleged KKN practices on the construction of a waste treatment plant. The KKN on the construction of the waste treatment plant, which involved former president Soeharto's children, relatives and close friends, inflicted losses of about $894 million to Pertamina, Baihaki said. (*)