Government Godok IDR1,000 Trillion Asset Monetization Scheme In Jakarta For National Capital Funding

Illustration (Photo: Doc. Antara)

JAKARTA - The government through the Ministry of Finance (Kemenkeu) is said to be preparing a monetization scheme for a number of state assets in Jakarta to support the realization of the National Capital City (IKN) funding.

Director of State Property at the Ministry of Finance (Kemenkeu) Encep Sudarwan said this effort was carried out with the intention of providing alternative financial support other than the state treasury.

"We will move to IKN, so one of the funding is using assets in Jakarta by optimizing it so that we can get funds for development there," he said in a webinar on Friday, November 26.

Encep reminded that this strategy does not mean having to sell, but rather combining it with a rental system that will not reduce the state's right to control the asset.

"It doesn't always have to be sold, we can cooperate by giving time to other parties to manage," he said.

Sri Mulyani's subordinates estimate that the value of assets in DKI Jakarta is quite large and has the opportunity to become a significant source of funding.

“The asset value in Jakarta is around Rp1,000 trillion. We are currently sorting out which assets might be monetized,” he said.

However, Encep admitted that the government would not rush to carry out the execution. The reason is, the pandemic situation requires more in-depth study and consideration so that the results obtained are more optimal.

"We are not in a hurry, if we hurry, the price will be low. In addition, we also do not want to interfere with market prices. Anyway, just see what the optimization looks like," said Encep.

Citing data reported by the Directorate General of State Assets of the Ministry of Finance, it is known that the value of all Indonesian assets until the close of 2020 is Rp. 11,098 trillion.

Of this figure, Rp6.585 trillion of them or about 59.3 percent is in the form of state property (BMN).

Just so you know, the value of assets that reached tens of thousands of trillions turned out to have increased by more than Rp. 4,000 trillion thanks to the BMN revaluation strategy carried out in 2018. Meanwhile, asset revaluation is a step to reassess assets owned by an entity (ministry/institution) so that it reflects the current value of assets.