JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir ensured that the State Capital Participation (PMN) received by a number of state-owned companies was not to save the company's business. However, carrying out government assignments.
Erick said 70 to 80 percent of SOE PMNs are government assignments. Erick also rejected the perception that fresh funds injected by the state were solely to help the company's business.
"Because this is a corporate option, if it is not feasible, government injection, which is called PMN. That's why PMN has a bad perception, it's wrong. Because PMN is 70-80 percent assigned, there is no rescue, (this is for) assignments," Erick wrote via his official Instagram account @erickthohir, Thursday, October 6.
Meanwhile, said Erick, 10 percent to 15 percent of the PMN BUMN budget is focused on the company's own restructuring program.
Furthermore, Erick said that the contribution made by SOEs through corporate actions was far above the PMN value obtained. For example, said Erick, the rights issue of PT Bank Rakyat Indonesia (Persero) Tbk, reached Rp92 trillion.
Not only PMN, said Erick, negative perceptions are also often embedded in infrastructure projects. Erick said infrastructure projects have a long-term return of investment. This means that the new BUMN Karya income will be obtained within 7-8 years of submission.
"It's different from building retailers that get direct income. If the infrastructure is cashflow, it's only 7 to 8 years. This is what sometimes the context must be the same, don't think infrastructure development is just a waste, no," he said.
In addition, said Erick, infrastructure projects have a multiplier effect by driving the surrounding economy. In fact, economic growth will occur after the toll road in an area.
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