Benefits Of SOE PMN, Special Staff Erick Thohir: Open New Market

Special Staff to the Minister of SOEs Arya Sinulingga. (Photo: Doc. ANTARA)

JAKARTA - The Special Staff (Staffsus) of the Minister of SOEs, Arya Sinulingga, revealed the benefits of providing State Equity Participation (PMN) for state-owned companies.

Salain to carry out government assignments, but also to open new markets or markets that have not been entered by private players.

Furthermore, Arya said, SOEs are different from the private sector. This is because SOEs are not only looking for profit, but also carrying out assignments from the government.

"The task of SOEs is not only to seek profit, not if the profit has just been done. One of the tasks of SOEs is to open a new market, he is the one who opens spaces where no players have entered. When the market has not yet been entered, SOEs are tasked with entering there. And that's where the capital owner assigns the BUMN to work on work that is not done by private players," said Arya, quoted Friday, September 30.

According to Arya, the total amount of State Capital Participation (PMN) is IDR 269 trillion or only 6.7 percent of the total contribution of SOEs to the state.

As for SOEs for countries in the form of dividends, Non-Tax State Revenue (PNBP), and taxes totaling Rp4,013 trillion in the last 10 years.

Therefore, continued Arya, the Ministry of SOEs targets to balance the number of dividends deposited by SOEs with the number of PMNs received during the period 2021 to 2024.

On this occasion, Arya also answered the wrong issues circulating in the community which stated that it was as if the PMN given to SOEs were due to the loss of SOEs.

Arya emphasized that PMN is given to SOEs solely in the context of assignments from the Government, which is none other than the owner of capital.

"In the past three years, Mr. Erick Thohir has changed many patterns in PMN, PMN is only carried out if it is related to the assignment or for example the SOEs carry out corporate actions for business development," he said.

Previously, Minister of State-Owned Enterprises (BUMN) Erick Thohir admitted that he was surprised by the negative assumption of state capital participation (PNM) to a number of state-owned companies.

Erick assessed that this view was not appropriate, because actually PMN was used to complete state project assignments.

Erick said that many state-owned companies initially received capital injections from the state and then took corporate actions.

Erick said, this step is to make the company independent so that in the future there is no need to get an injection from the state.

"Then what is the perception of PMN which has been as if negative all this time? Even though 70 percent of PMN is because of the assignment that we have to complete and there are so many corporate actions carried out by SOEs. That is nothing but to develop the world without PMN," he told reporters, Wednesday, September 14.

According to Erick, with this corporate action, the value of PMN is only 10 percent of the total obtained.

Erick also mentioned the contribution of SOEs during the last three years which continued to grow by Rp1,198 trillion.

This figure increased by Rp68 trillion from three years before the COVID-19 pandemic.

"The profits of SOEs are now God willing, this year it will increase again to Rp144 trillion. These are things that I think are the results of this transformation," he said.