IPO Pertamina Geothermal Energy Can Build Public Trust In Governments

JAKARTA - A public policy analyst from Trisakti University Jakarta, Trubus Rahadiansyah, assessed that the initial public offering (IPO) of PT Pertamina Geothermal Energy (PGE) could build public trust in the government.

In addition to making the company more independent, said Trubus, the IPO PGE also opens opportunities for the community to participate in supervising the company.

"That way, this PGE IPO can build public trust in the government. Company governance increases and is more transparent so that people can participate in monitoring. In addition, the IPO also reduces dependence on state capital participation (PMN)," Trubus said in a written statement, quoted from Antara, Thursday, February 23.

The General Chairperson of the Indonesian Policy Analyst Association (AAKI) said that in the future, the funding pattern through the IPO can also be carried out by other SOEs, which are currently still closed companies.

"I am one of the compiling teams for the BUMN Bill. If I see it, the direction is indeed there. With the IPO, the state does not give too much PMN so it does not interfere with the state budget. The point is the independence of SOEs," said Trubus.

According to him, through this independence, of course, companies can become more flexible and more agile. Supported by good governance including the application of the principle of transparency as mandatory, the performance of SOEs is also increasing and can even compete at the global level.

"This is independence without eliminating the essence that PGE is a state-owned company because the shares released are also very small, 25 percent. It is not absolutely privatization because Pertamina is still in control of company policies. the increasing number of companies," he said.

He said through the IPO, companies like PGE would also become more professional. Public transparency and supervision, said Trubus, can suppress potential irregularities and even politicization in the company. As a corporate action, this kind of IPO has also been carried out by SOEs a lot.

"So it's not new. Even in the future, in stages other SOEs are also directed to become open companies. We'll see, many SOEs have succeeded in the IPO. The performance is increasing, but they are still state-owned SOEs. No less important, SOEs still play a role as a liaison between the state and the'society' called society," said Trubus.