Regarding KAI's Plan To Take Over Jabodebek LRT Debt, Ministry Of Transportation: Wait For Payment Scheme From The Ministry Of Finance

The Ministry of Transportation (Kemenhub) has opened its voice regarding the remaining arrears of government debt to PT Adhi Karya (Persero) Tbk in the Jabodebek LRT project worth IDR 2.2 trillion which will be taken over by PT Kereta Api Indonesia (Persero) or KAI.

Director General of Railways of the Ministry of Transportation (Kemenhub) Allan Tandiono said his party together with KAI are still waiting for the payment scheme for the Jabodebek Light Rail Transit (LRT) development debt from the Ministry of Finance.

"So the Ministry of Transportation and KAI are currently waiting from the Ministry of Finance regarding the payment scheme," he said in a media briefing, in Jakarta, Tuesday, September 30.

Not only that, Allan said that later the Jabodebek LRT project debt payment will also be verified.

"Later it also needs to be verified regarding the payment," he explained.

Previously, the Anagata Nusantara Power Investment Management Agency (BPI Danantara) had also opened its voice regarding the remaining government debt arrears to PT Adhi Karya (Persero) Tbk on the Jabodebek LRT project worth IDR 2.2 trillion.

Danantara Chief Operating Officer (COO) Dony Oskaria admitted that he would conduct a review of the plan to take over the debt of the Jabodebek LRT project.

Furthermore, Dony emphasized that this step is of course to ensure improvements in all BUMN financial performance.

"I'll check the pattern later, of course the scheme should be proper, yes, it must be right. Because I have to make sure that all companies are healthy, so I'll check with the LRT earlier with Adhi Karya," he said when met at Graha Mandiri Jakarta, Monday, September 29.

The Government Has Not Paid Off The Remaining Payment Of The Jabodebek LRT Project

The construction of the Jabodebek Light Rail Transit (LRT) leaves a debt to PT Adhi Karya (Persero) Tbk of IDR 2.2 trillion. The plan is that the debt will be paid by PT Kereta Api Indonesia (Persero) or KAI as the manager of the Jabodebek LRT.

Director Adhi Karya Entus Asnawi said Entus said the construction of the first phase of the Jabodebek LRT along 44 km was originally funded by the government.

Then, there was a change through Presidential Regulation (Perpres) Number 98 of 2015 where funds amounting to Rp. 23.3 trillion were given through PMN from the total contract value of Rp. 25.5 trillion.

"Until the completion of this work, we have spent Rp. 25.5 and we have already paid Rp. 23.3, so that there is still Rp. 2.2 trillion left," he said in a virtual Public Expose Live event, Monday, September 8.

Currently, said Entus, government receivables are still in process.

Even so, he admitted that he had received confirmation from the Ministry of Finance regarding the payment of the Jabodebek LRT receivables which would be made in full by KAI.

"The current process we have received confirmation from the Ministry of Finance that the payment will be made through KAI. Either with a payment scheme or a subsidy scheme to the KAI. KAI will later go to Adhi Karya to pay in full," he said.

Entus also admitted that he was still waiting for a study to get the commercial figures for paying the debt.

The disbursement of the receivable will help the company to complete a number of obligations.

"If the benefits are of course very beneficial if it can be disbursed. At least we can complete some of the obligations that exist in Adhi Karya," he said.

Sementara itu, Direktur Keuangan Adhi Karya, Bani Iqbal Menargetkan penyelesaian piutang yang melibatkan pemerintah tersebut dapat rampung pada akhir tahun ini.

Bani mengakui bahwa piutang terbesar persebaran berasal dari proyek pembangunan LRT Jabodebek.

“Piutang terbesar saat ini adalah piutang dari LRT yang masih dalam proses diskusi dengan KAI, Kemenkeu, dan juga Danantara untuk penyelesaiannya. Targetnya bisa selesai secepat-cepatnya akhir tahun ini,” ucap Bani.

Meanwhile, Finance Director Adhi Karya, Bani Iqbal targets the settlement of the receivables involving the government to be completed by the end of this year.

Bani admitted that the largest receivables for the distribution came from the Jabodebek LRT development project.

The largest debt currently is receivables from the LRT which are still in the process of being discussed with KAI, the Ministry of Finance, and also the Danantara for completion. The target can be completed as soon as the end of this year," said Bani.