Hutama Karya Can PMN IDR 23.85 Trillion, President Jokowi Has Approved

Photo: Doc. Hutama Karya

JAKARTA - BUMN PT Hutama Karya has received the blessing of President Joko Widodo (Jokowi) to obtain additional state capital participation (PMN). The amount of PMN is worth IDR 23.85 trillion.

The approval of the PMN injection is contained in the Government Regulation of the Republic of Indonesia Number 47 of 2022 concerning the Increase of State Equity Participation of the Republic of Indonesia into the Share Model of the Company (Persero) PT Hutama Karya.

"The value of increasing state capital participation as referred to in Article 1 is IDR 23.85 trillion," reads Article 2 in the PP, quoted Monday, December 12.

The addition of PMN comes from the State Revenue and Expenditure Budget (APBN) for Fiscal Year 2022 as re-established in the Details of the 2022 FY APBN.

This regulation was stipulated in Jakarta on December 8, 2022 by President Jokowi and promulgated on the same date by the Minister of State Secretary of the Republic of Indonesia Pratikno.

The additional PMN will be used by Hutama Karya to accelerate the construction of the Trans-Sumatra Toll Road megaproject (JTTS).

In addition, Jokowi also approved the addition of PMN for PT Bank Tabungan Negara Tbk amounting to IDR 2.48 trillion. The PMN approval is contained in Government Regulation of the Republic of Indonesia Number 48 of 2022. The regulation was also stipulated on December 8 and promulgated on the same date.

The injection of funds will be used to improve the capital structure and increase BTN's business capacity in order to support the achievement of government targets in the housing sector through the issuance of new shares to maintain the composition of state share ownership in BTN companies.

"The amount of the value of additional state capital participation as referred to in paragraph (1) is determined by the Minister of Finance based on the results of the implementation of the issuance of new shares submitted by the Minister of State-Owned Enterprises," reads Article 2 in the PP.