Indofarma Boss Admits He Hasn't Paid Employee Salaries In March 2024

Illustration (Photo: Doc. ANTARA)

JAKARTA - President Director of PT Indofarma Tbk (INAF) Yeliandriani admitted that he had not paid employee salaries for the March 2024 period. The reason is because this state-owned pharmaceutical company has been hit by financial difficulties.

"The news that the company has not paid wages to employees for the March 2024 period is true," he said in an information disclosure of the Indonesia Stock Exchange, Thursday, April 18.

"Currently, the company does not yet have sufficient operational funds to fulfill employee wage obligations," he continued.

In addition, Yeliandriani explained, this condition was also due to the decision to Postpone Debt Payment Obligations (PKPU), which, although it did not have a direct impact on the company's operations, the company must coordinate with a team of administrators appointed by the court in accordance with the provisions of the legislation.

Yeliandriani said the company's financial condition would be submitted to the financial statements.

Currently, he continued, financial reports are still finalizing the audit of the Public Accounting Office (KAP).

Even so, Yeliandriani ensured that the 2024 Eid al-Fitr holiday allowance (THR) had been paid by the company to employees on April 5, 2024, in full, according to a joint working agreement with Indofarma.

Yeliandriani also explained that the THR payment had been included in the operational cost proposal that would be proposed to the Temporary PKPU management team.

"The company has submitted an incidental report on the decision of the Temporary PKPU Case to the Indonesia Stock Exchange TP with letter Number 0698/DIR/IV/2024 dated April 1, 2024," he said.

Currently, continued Yeliandriani, the debt restructuring process for Indofarma is in the Temporary PKPU process. However, Yeliandriani ensured that this PKPU did not have a direct impact on the company's operations.

"The company will continue to operate as usual by still coordinating with the committee appointed by the court in accordance with the provisions of the legislation," he explained.