REPUBLIKA.CO.ID, JAKARTA -- The State Capital Injection (PMN) to 16 State-Owned Business Entities (BUMN) was approved by Commission VI of the DPR RI at a Working Meeting with Minister of SOE Erick Thohir on Wednesday (10/7/2024). Approval was given by all factions in the Commission VI as a whole with some light notes.

“Yesterday I attended the Working Meeting of the VI Commission of the DPR RI regarding the approval of the PMN for the budget year 2025. Thank God the entire faction of the VI Commission approved the PMN of the budget year 2025 that will be given to state-owned enterprises,” Erick said in his remarks in Jakarta, Thursday (11/7/2024).

One of the driving factors for the approval of the PMN proposal is because the reality of the contribution of SOEs to the state finances in the last five years is much higher than the approved PMN.

During 2020-2024, according to Erick, PMN granted to state-owned enterprises reached Rp 218 trillion. The value is lower than the dividends that SOEs deposited to the state treasury in the same period, worth Rp 280 trillion, before audit or unaudited.

“This means that PMN, which was previously financed from state-issued debt, could be financed from state-owned dividends,” Erick continued.

In fact, says Erick, the contribution of state-owned enterprises to the state is not only in the form of dividends. SOEs are also able to contribute to the state from the fiscal sector.

Erick said during the period 2020-2023, SOEs have contributed to the state with tax deposits of Rp 1.374 trillion and other Non-Tax State Revenue (PNBP) worth Rp 356 trillion to the state.

“Thanks to the appreciation, support and supervision of all Members of the VI Commission Board who contributed to the SOE can be even greater,” Erick continued.

Previously, Commission VI of the Parliament of the Republic of Indonesia has approved the PMN for Fiscal Year 2025 with details, first, of PT Hutama Karya (Persero) amounting to Rp 13.8 trillion. PMN Hutama Karya is to continue the construction of the Trans Sumatra Toll Road (JTTS) phase II.

Two, PT Asabri (Persero) with a PMN value of Rp 3.61 trillion in the framework of capital improvement. Third, PT PLN (Persero) amounted to Rp 3 trillion in the framework of the village electricity program (lisdes).

Fourth, PT Bahana Pembinaan Usaha Indonesia (BPUI) or IFG amounted to Rp 3 trillion. This PMN is to strengthen capital on KUR guarantee and encourage to make adjustments to the adequacy of the IJP KUR.

Then, the fifth PMN was awarded to PT Pelni (Persero) in the amount of Rp 2.5 trillion, that is, for the procurement of new ships. Sixth, PT Bio Farma (Persero) with PMN of Rp 2.2 trillion for new capital expenditure facility. Seventh, PT Adhi Karya Tbk amounted to Rp 2 trillion in the framework of the construction of the Yogyakarta-Bawen and Solo-Yogyakarta tolls.

Eighth, PMN for PT Wijaya Karya Tbk amounted to Rp 2 trillion in order to improve the capital structure. Ninth, PT Len Industri (Persero) with PMN of Rp 2 trillion for modernization and increase of production capacity.

Tenth, PT Danareksa (Persero) amounted to Rp 2 trillion for business development. Eleventh, PT Kereta Api Indonesia (Persero) or KAI amounted to Rp 1.8 trillion. KAI will use it to procure new trainsets of government assignments.

Twelfth, ID Food amounted to Rp 1.6 trillion for the working capital and investment of the CPP program. Thirteenth, PT PP (Persero) amounted to Rp 1.5 trillion for the completion of Yogyakarta-Bawen Toll project and Subang integrated industrial area.

Then, Fourteenth, Perum Damri amounted to Rp 1 trillion for the procurement of electric buses. Fifteenth, Perum Perumnas amounted to Rp 1 trillion in restructuring. Sixteenth, PT INKA (Persero) amounted to Rp 976 billion for the construction of KRL Jabodetabek trains.

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