Erick Thohir Asks SOEs To Buy Dollars, Arya Sinulingga: Never Talk About It

Special Staff to the Minister of SOEs Arya Sinulingga. (Photo: Mery Handayani/VOI)

JAKARTA - Special Staff to the Minister of SOEs Arya Sinulingga denied reports that SOE Minister Erick Thohir ordered SOEs to buy up US dollars amid the heated conflict between Israel and Iran.

"I'm confused about the news saying that Mr. Erick ordered SOEs to buy up dollars, where is it? There's never been Mr. Erick to talk like that. It's like this, yes, there's a spin talk or what," Arya told the media, Friday, April 19.

Arya emphasized that the Minister of SOEs never gave a statement to encourage SOEs to buy dollars as reported.

"So Mr. Erick never, I emphasize that Mr. Erick has never ordered SOEs to buy up dollars. Clear that," added Arya.

Even President Arya Erick Thohir stated that Erick was in line with the statement of the Coordinator of the Economy Airlgga Hartarto and Deputy Minister of Finance Suahasil so as not to buy the dollar.

"So it is not true that Mr. Erick once encouraged SOEs to buy up dollars, it needs to be straightened out," said Arya.

Previously, Erick Thohir asked state-owned companies to anticipate the impact of the current world economic and geopolitical turmoil.

According to Erick, this economic and geopolitical situation has already and will have an impact on Indonesia through Foreign Outflow investment funds which will trigger a weakening of the rupiah and an increase in bond yields.

Then also the higher cost of importing raw materials and food due to supply chain disturbances.

Therefore, Erick asked SOEs to take quick steps in minimizing global impacts through a review of capital expenditure operating costs, due debts, corporate action plans, and conducting stress tests in seeing BUMN conditions in the current situation.

Erick also asked banking SOEs to proportionally maintain the portion of credit affected by rupiah volatility, interest rates, and oil prices.