Sri Mulyani Submits PMN Total Rp6.1 Trillion For Four SOEs And Land Banks

Minister of Finance Sri Mulyani Indrawati proposed an injection of State Capital Participation (PMN) worth IDR 6.1 trillion for 4 State-Owned Enterprises (BUMN) and Bank Tanah.

The PMN application worth Rp6.1 trillion was taken from Investment Financing Reserves. The 4 SOEs include PT Kereta Api Indonesia (KAI), PT Industri Kereta Api (INKA), PT Pelayaran Nasional Indonesia (PELNI), PT Hutama Karya (HK), and the Land Bank Agency (Bank Tanah).

"Investment financing reserves in the 2024 State Budget Law amounted to Rp13,676 billion (Rp13.67 trillion). Today we propose to use it only Rp6,100 billion (Rp6.1 trillion)," said Sri Mulyani during a Working Meeting (Raker) with Commission XI of the Indonesian House of Representatives in Jakarta, quoted from Antara, Monday, July 1.

Sri Mulyani detailed that PMN submissions for KAI amounted to Rp2 trillion, INKA Rp965 billion, PELNI Rp500 billion, Hutama Karya Rp1 trillion and Bank Tanah Rp1 trillion.

"And there is to finance this financing reserve investment, we allocate the guarantee obligation. This is because the government often provides guarantees and in this case we provide or back up and for guarantees if there is an obligation to be called, this is IDR 635 billion," he said.

On the same occasion, the Director General of State Assets Rionald Silaban explained, PMN for KAI will be used for retrofit capital expenditure needs, and procurement of KRL sets.

Then for PMN Hutama Karya amounting to Rp1 trillion will be used to complete the construction of the Trans Sumatra Toll Road (JTTS) on the Palembang-Betung section.

"As for PMN at INKA amounting to Rp960 billion, this will be used for the construction of line 2 at the Banyuwangi factory which produces trains made from stainless steel," he explained.

Rionald stated that a capital injection of IDR 500 billion for PELNI would be used as additional capital for the purchase of a new ship, for the rejuvenation of the PELNI ship fleet.

Meanwhile, PMN Rp 1 trillion for Bank Tanah will be used in accordance with the mandate of Government Regulation 64/2021 concerning the Land Bank Agency Article 43 paragraph 1.