ITDC Debt Of IDR 1.2 Trillion To Build Mandalika Circuit Will Be Paid Using PMN

ITDC Finance Director Ahmad Fajar. (Photo: Mery Handayani/VOI)

JAKARTA - PT Pembangunan Pariwisata Indonesia or Indonesia Tourism Development Corporation (ITDC) bears debts of around IDR 1.2 trillion from the construction of the Mandalika Circuit.

The plan is that the debt will be paid from the State Capital Participation (PMN) funds.

ITDC Finance Director Ahmad Fajar explained that the debt worth IDR 1.2 trillion was a business debt borne by ITDC.

For a mutual agreement, the debt will be paid through PMN.

Furthermore, Fajar said, the construction of the Mandalika Circuit is an assignment from the government, therefore his party will propose additional fresh funds from the state treasury.

For your information, PMN proposed Rp1.05 trillion to cover the debt. The submission has also received the blessing of Commission VI of the DPR RI.

"How to deal with it? Yes, because this is to build a country, build an NTB area, build us as SOEs, agents of development, like it or not, I submit this 'this fixed asset, this is a building', I submit it, I ask PMN," he said at a Media Briefing event in Jakarta, Tuesday, August 8.

Therefore, Fajar said, the process of disbursing PMN could be carried out in the near future. So that the short-term debt payment or short term can be done immediately.

"God willing, when everything is finished this year, just wait for Commission XI to go to Commission VI of the DPR, God willing, all IDR 1 trillion will be reduced," he said.

Fajar admitted that when he officially served as a finance director, he immediately reviewed the types of debt that the company was responsible for.

"Once I entered, the first debt I faced was a business debt first, it had to be, as soon as I saw the figure was approximately Rp. 1 trillion. Why? To build the circuit, at that time, so it hasn't all paid off yet," he said.