Revealed! Sri Mulyani Injects PMN Of IDR 4.3 Trillion For Fast Trains From SAL Funds

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani gave a presentation regarding the government's decision to make state capital participation (PMN) of Rp. 4.3 trillion for the completion of the Jakarta-Bandung high-speed rail project.

According to the Minister of Finance, the allocation of funds comes from the 2020 surplus budget balance (SAL), which is recorded at a total of Rp. 20.1 trillion.

This was revealed by the state treasurer during a working meeting with Commission XI of the DPR RI which was broadcast virtually from the Senayan Parliament Complex, Jakarta.

"The need to meet the needs of the Jakarta-Bandung high-speed train is Rp. 4.3 trillion," he said, Monday, November 8.

The Minister of Finance added that the budget was disbursed to PT Kereta Api Indonesia (KAI) as the SOE entity that leads the project. Actually, the number of PMNs received by KAI is Rp. 6.9 trillion. However, this extra amount is also used for KAI's business development needs outside the Jakarta-Bandung high-speed rail project.

For information, the government's move to inject the construction of infrastructure facilities is an option outside the initial planning scheme. The reason is that the construction of the Jakarta-Bandung high-speed train is set to use a business to business or b2b plan.

The government itself argues that the pandemic conditions require the state to be present to participate in completing the mega project that was built with China.

“PT KAI has been hit hard by the COVID-19 pandemic. The number of passengers decreased so that SOEs could not fulfill their equity. For this reason, the government has stepped in so that this project can be completed,” said the Minister of Finance.

In the editorial notes, the construction of the Jakarta-Bandung high-speed train is financed by the China Development Bank (CDB) with a percentage of 75 percent. While the other 25 percent is said to be borne by the equity of the PT KAI cs consortium. Of the 25 percent equity, 60 percent comes from the Indonesian consortium because it is the majority shareholder.