JAKARTA: Audit Board finally began an audit of the Government Investment Center (Pusat Investasi Pemerintah/PIP) related to the use of funds for the purchase of 7% stake in PT Newmont Nusa Tenggara worth US$246.8 million.Stock purchase transaction has been done the Government Investment Center (PIP) and Nusa Tenggara Partnership BV. They have signed a sale and purchase agreement (SPA) on May 6, 2010. The transaction itself was reported to the Ministry of Energy and Mineral Resources (EMR) on May 9, 2010.Member II of Audit Board (BPK) Taufiequrachman Ruki admitted the board conducted an audit of PIP as a request from the House, not from the government. Audit process, as he continued, will last for 90 days."We will carry out the audit one by one. In this case, we conducted an audit of purchasing 7% stake which was done by PIP," he said yesterday.According to Ruki, BPK will audit mainly on a matter of funds used by PIP for acquiring the shares as requested by the House. The House asked BPK to audit since the purchase of Newmont's shares by the government has to be approved by the parliament.However, the government with reference to the Law assessed that the buying process does not need to be done with the permission of the House.In connection with the audit, Head of PIP Sori Taon Siregar explained that BPK had done an audit since last Thursday."Everything will be audited, either financial or legal aspect. We did not make it as a probelm. We believe that we are doing right. No point of return. We will go forward, "he said.According to Sori Taon, the government's decision to use funds from PIP to buy 7% NNT stake has been in accordance with applicable regulations.Audit of 24% sharesGovernment through Ministry of Finance has also asked BPK to audit the purchase of 24% stake in Newmont by local government of West Nusa Tenggara."We think the audit request from the House and the government is parallel or can be done jointly," he said.Amid the audit of BPK, the purchase of PT Pukuafu Indahs 2.2% stake in Newmont by PT Indonesia Masbaga Investama (IMI) has been polemical. In fact, the government has confirmed it will investigate the transaction because it is funded by Newmont Ventures Limited.Commissioner of IMI Fred Tumbuan confirmed the existence of Newmont's funding. However, he made sure that the funding did not followed by diversion of voting rights. "Voting rights has already owned by IMI. We are an autonomous and independent organization. We will not divert our voting rights, "he said yesterday.Fred Tumbuan also explained that IMI is actually owned by local shareholders and it does not contrast to the spirit of divestment.In the same place, Managing Director of IMI Nusantara Suria Atmaja, declared the company will focus on supporting corporate social responsibility program at locations around the mine.According to him, he was formulating community program that includes supporting the local economy and education.(t03/msw)

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