Addressing The DPR, Sri Mulyani Conveys Plans For Providing PMN To A Number Of SOEs

Photo: Doc. Ministry of Finance

JAKARTA Minister of Finance (Menkeu) Sri Mulyani is said to have attended a working meeting with Commission XI of the DPR regarding the discussion of plans to provide state capital participation (PMN) for a number of SOEs.

On that occasion, the Minister of Finance revealed that in 2023 it was planned that there would be an additional PMN in cash of IDR 42.8 trillion for 5 entities.

Then, in the form of investment financing reserves amounting to IDR 4.5 trillion for 3 entities, non-cash in the form of conversion of 2023 APBN receivables amounting to IDR 3 trillion for 2 entities, and non-cash in the form of state property (BMN) to 5 entities.

Meanwhile, in 2024 it is planned that there will be 3 BUMN recipients of PMN which will be disbursed in the beginning of the first quarter of 2024 and will later be included in the 2024 State Budget Bill.

In detail, cash PMN in the 2023 State Budget will be given to 5 SOEs, namely PT Hutama Karya (28.84 trillion), PT Perum Listrik Negara (Rp10 trillion), PT Sarana Multigriya Finansial (Rp1.53 trillion), PT Len Industri (Rp 1.75 trillion), and Perum LPPNPI/Airnav Indonesia (Rp 659.19 billion).

"Hutama Karya in 2023 has again received a significant PMN, namely 28,884 trillion. This PMN is now associated with a contract for BUMN Hutama Karya to complete the Sumatra toll road stage 1 and stage 2 for the Betung-Tempino-Jambi section and the Pekanbaru-Bypass Pekanbaru Convention," he said in a written statement quoted on Wednesday, September 13.

The Minister of Finance explained that the Cash PMN from investment financing reserves is planned at IDR 4.514 trillion to 3 SOEs, namely PT Bahana Pembinaan Usaha Indonesia, PT Aviasi Wisata Indonesia, and PT Bina Karya.

The non-cash PMN through the conversion of receivables from the 2023 State Budget was given to 2 SOEs, namely PT Rajawali Nusantara Indonesia (Rp2.56 trillion) and PT Len Industri (Rp456.25 billion).

Furthermore, non-cash PMN in the form of State Property (BMN) is given to 5 SOEs. These include PT Brantas Abipraya, PT ASDP Indonesia Ferry, Perum LPPNPI/Airnav Indonesia, PT Sejahtera Eka Graha, and PT Pertamina.

Meanwhile, regarding the PMN BUMN in the APBN next year, the Minister of Finance said that the disbursement would be carried out at the beginning of the year, precisely in the first quarter of 2024.

"In the 2024 State Budget Bill that has been submitted by the President in the Panja Meeting on Basic Assumptions and Revenue of Deficits and Financing that have been discussed in Banggar, we mention PMN on 3 SOEs which will be disbursed in early 2024 or the first quarter of 2024," he said.

The Minister of Finance added that the disbursement of PMN at the beginning of the year was carried out to maintain the health of the three SOEs.

"So we ask that discussions can be carried out with Commission XI because the timing of PMN also determines the health of the BUMN BUMN," he said.

The three SOEs, namely, first PT Hutama Karya amounted to Rp. 18.6 trillion. The Minister of Finance revealed that this PMN was given because Hutama Karya became the main BUMN for the completion of the Sumatra toll road phase 1 and the Bogor-Ciawi-Sukabumi toll road project and the Kayuagung-Palembang-Betung toll road.

"We hope that with PMN which is associated with project progress, it will be more accountable so as not to include PMN but then he enters the balance sheet without having anything to do with which projects to be completed," he added.

Furthermore, PT Bahana Pembinaan Usaha Indonesia also received PMN of 3.556 trillion in order to strengthen IFG Life and complete the transfer from policies that have been restructured from PT Asuransi Jiwasraya.

In addition, the proposed PMN 2024 was given to PT Wijaya for 6 trillion rupiahs in order to strengthen the capital structure to fund the PSN project being worked on.

"So, even though we do PMN, there is still an ear mark for what project, it is not included in the balance sheet, especially if this SOE is still in the restructuring process, so make sure that PMN is not lost or diluted by various financial problems from the BUMN," closed the Minister of Finance Sri Mulyani.