New Policy, Sri Mulyani Determines State-Owned Enterprises Recipient Of PMN To Achieve Certain KPI Targets: This Is President Jokowi's Direction

Minister of Finance Sri Mulyani (Photo: Doc. Ministry of Finance)

JAKARTA - The government through the Minister of Finance (Menkeu) Sri Mulyani set a new policy for State-Owned Enterprises (BUMN) which are recipients of the allocation of State Equity Participation or PMN. According to the Minister of Finance, this step is an effort to manage PMN in an accountable and transparent manner.

Later, this commitment will be shown through the existence of Key Performance Indicators (KPI) as outlined in the performance contract between SOEs and PMN recipient institutions and the relevant ministries that oversee them.

"I hope this is not just a disbursement of funds, but is more of a start for the performance of these SOEs to be accountable for running and using public funds in a professional and accountable manner," he said in a press statement quoted Friday, December 31.

As state treasurer, Sri Mulyani encourages the creation of a new tradition with good governance and continues to be monitored and evaluated by the Inspectorate General of the Ministry of Finance.

"This is a contract in front of the ministers who will indeed oversee the accountability of the use of the funds, as stated by the President at the Palace," he said.

For information, KPI specifically for PMN includes two main things, namely clear outputs and outcomes as well as having targets that can actually be directly felt by all stakeholders, especially the community.

The Ministry of Finance also requested that SOEs and institutions receiving PMNs continue to transform and make improvements within themselves.

The PMN is expected to encourage the progress of the BUMN business concerned, encourage faster progress of the Indonesian economy and in the end can provide the maximum social and economic benefits for the community.

The following are state-owned PMN recipient institutions that have signed the KPI.

1. PT Bahana Pembinaan Usaha Indonesia (Persero) IDR 20 trillion

Improving the capital structure and increasing the business capacity of PT BPUI (Persero) in order to support the strengthening of the Indonesian insurance industry, including the completion of PT Asuransi Jiwasraya (Persero) policies which have been restructured and/or transferred to PT Asuransi Jiwa IFG.

2. PT KAI IDR 6.9 trillion

Continuation of completion of the Jabodebek LRT infrastructure project and the Jakarta-Padalarang-Bandung service line.3. PT PLN IDR 5 trillion

Financing capital expenditures in transmission and distribution sector projects, including the implementation of the village electricity program for New Renewable Energy Generators & Supporting the Village Electricity Program.4. PT PAL IDR 1.28 trillion

Preparation of infrastructure for the construction and maintenance of submarines in order to increase the mastery of submarine construction technology from mastery of joint development to Whole Local Production (WLP).5. Land Bank Rp1 trillion

Procurement of costs for Land Acquisition, Land Development, Business, Lease, Purchase of Fixed Assets, Pre-Operational Costs and Funds for Working Capital.6. PT Pelindo IDR 1.2 trillion

Benoa Harbor Development.7. PT Indonesia Tourism Development or Indonesia Tourism Development Corporation (ITDC) IDR 470 billion

Development of basic infrastructure and supporting facilities in Tana Mori, Labuan Bajo, NTT.