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View all search resultsGovernment to accelerate capital injections for SOEs
The capital injections are part of the Rp 695.2 trillion in stimulus provided by the government to strengthen Indonesia’s healthcare system and cushion the pandemic’s economic impacts.
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T
he Finance Ministry's State Assets Directorate General (DJKN) has said it will accelerate the disbursement of Rp 20.5 trillion (US$1.4 billion) in state capital injections (PMN) for five state-owned companies.
State-owned enterprises (SOEs) have an important role to play in supporting the country’s economic recovery, Meirijal Nur, the DJKN’s separated state assets director, said. The capital injection plan is a part of the government’s national economic recovery program.
“We are trying to do it as fast as possible. It will be done by September at the latest”, Meirijal said during a media briefing on Friday.
“To disburse the funds, we need to be quick, but that doesn’t mean we can violate the rules of governance,” he added, explaining that the capital injection process needed to comply with the relevant government regulations (PP) and that a regulation on the disbursement of the funds was still being processed.
The government plans to inject Rp 7.5 trillion into state-owned infrastructure company PT Hutama Karya, while state-owned financing firms PT Bahana Pembinaan Usaha Indonesia (Bahana) and PT Permodalan Nasional Madani will receive Rp 6 trillion and Rp 1.5 trillion, respectively.
State-owned PT Indonesia Tourism Development Corporation and state asset management company PT Perusahaan Pengelola Aset will receive Rp 500 billion and Rp 5 trillion, respectively, in state capital injections.
The capital injections are part of the Rp 695.2 trillion in stimulus provided by the government to strengthen Indonesia’s healthcare system and cushion the pandemic’s economic impacts.
