SOE Minister Ensures State Capital Participation Of IDR 3 Trillion For Liquid IFG This Year

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JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir ensured that state capital participation or PMN for PT Indonesia Financial Group (IFG) will be disbursed this year. The PMN that IFG will receive is worth IDR 3 trillion.

Erick said that PMN was to complete the transfer of policies from Jiwasraya to IFG Life. Erick encourages the completion of SOEs in the life insurance sector to continue.

"At least today Jiwasraya is resolved, the government will help with funding again at the end of this year," Erick told reporters, Wednesday, August 9.

Erick explained that the transfer of former Jiwasraya policyholders to IFG did require additional budget. The Ministry of SOEs in the end gets budget support in the form of PMN.

On the other hand, the income from confiscated assets that should have been used to complete the transfer of assets of former policyholders is currently being investigated by the Attorney General's Office and continues to be optimized.

The liabilities of policyholders who have not been transferred to IFG Life reached IDR 7.44 trillion. This amount is the remainder of the restructuring of policyholders that has been carried out since 2021.

To complete the policyholder's rights, the Ministry of SOEs proposed that investment reserves in the 2023 State Revenue and Expenditure Budget (APBN) be valued at IDR 5.7 trillion, partially allocated as PMN to IFG to strengthen capital.

The remaining needs are planned to be met from the results of the auction of confiscated/rampage assets as a result of cooperation with the Attorney General's Office and fundraising IFG, so that the transfer of policyholders is complete.