President Prabowo: State-owned assets are being dismantled, the old board is ready to be summoned to the prosecutor's office

JAKARTA - President Prabowo Subianto has issued a stern warning to the former heads of SOEs. He said that the management of state assets, which had previously been spread across hundreds of companies, would be held legally accountable.

At the Central and Regional Government Meeting in Sentul, Bogor, Monday, February 2, Prabowo revealed that the government had collected funds in one sovereign wealth fund management worth USD 1.04 trillion. Previously, the assets were spread across 1,040 companies.

"Who can manage a thousand companies? This is the trick of the former state-owned enterprise leaders who must be held accountable. Get ready to be summoned to the prosecutor's office," he said.

Prabowo alluded to the existence of parties who underestimated his leadership.

"Just wait in court. I'm only afraid of the Indonesian people and the Almighty God," he said.

He emphasized that the legal process does not recognize seniority of position.

Prabowo also highlighted the social impact when officials are entangled in the law.

"I feel sorry for his wife's child," he said.

In his speech, Prabowo emphasized the strategy of downstream processing as a major step in strengthening the economy. This year there are 18 downstream processing projects, ranging from aluminum smelters, oleoresins, coal, palm oil oleoresin, asphalt, iron, steel, to coconut flour.

"When we send oil out, we import it again?" he said.

The project is said to have the potential to create 276 thousand jobs with an investment of Rp618 trillion.