DPR And Sri Mulyani Agree To The Provision Of PMN Of IDR 26.8 Trillion

Minister of Finance Sri Mulyani (Photo; Doc. Antara)

JAKARTA - Commission XI of the House of Representatives of the Republic of Indonesia (DPR RI) together with Minister of Finance Sri Mulyani Indrawati approved cash and non-cash state capital participation (PMN) to State-Owned Enterprises (BUMN) and Financial Institutions for the 2024 fiscal year amounting to IDR 26.80 trillion.

The total cash PMN of IDR 12.35 trillion and non-cash PMN of IDR 14.45 trillion. PNM injections were given to a number of SOEs and financial institutions were determined in a working meeting, on Wednesday, July 3, 2024.

Deputy Chairman of Commission XI Dolfie Onthniel Frederic Palit said that Commission XI of the DPR RI had deepened the State Capital Participation (PMN) for Cash and Non-Cash for Fiscal Year 2024 and approved PMN Cash and Non-Cash in the State Budget for Fiscal Year 2024.

"Commission XI of the Indonesian House of Representatives approved PMN Cash and Non-Cash in the State Budget for Fiscal Year 2024," said Dolfie in a Working Meeting with the Minister of Finance in making the decision to add PMN for FY 2024, Wednesday, July 3.

The list of BUMN recipients of PMN is as follows:

FMD Cash For FY 2024

1. PT. Multigriya Finansial (Persero) suggestion of Rp1,891,000,000,000.2. Indonesian Export Financing Agency of Rp. 5,000,000,000,000. PMN is implemented with prudential principles; good corporate governance; and does not repeat management errors. Commission XI DPR RI will ask BPK RI to conduct Audit LPEI Performance and new business models to ensure the sustainability of LPEI performance.3. PT. Kereta Api Indonesia as large as (Persero) of Rp. 2,000,000.4. PT. Indonesian Railway Industry (Persero) amounting to Rp. 965,000.5. PT. Hutama Karya (Persero) amounting to Rp. 1,000,000.6. PT. Indonesian National Shipping (Persero) of Rp. 1,500,000,000,000. For a down payment of 3 (three) units of new ships for passengers of PT. Indonesian National Shipping (Persero) which has passed the operating age limit taking into account the company's capacity and governance. Commission XI DPR RI will ask BPK RI to conduct Audit Performance of PT. National Shipping of Indonesia (Persero.7. Government Guarantee of Rp. 635,000,000,000. PMN implementation is directed according to the efforts, policies, programs, and performance of each State-Owned Enterprise as attached.8. The government does not implement PMN Cash from investment financing reserves for the 2024 fiscal year to the Land bank agency amounting to Rp1,000,000

Non-Cash FMD FY 2024

1. PT. Hutama Karya (Persero) in the form of BMN with a fair value of Rp1,938,044,104,000.2. PT. Len Industri (Persero) in the form of debt conversion of Rp649,229,893,900.3. PT. Bio Farma (Persero) is in the form of BMN with a reasonable value of Rp68,001,537,000.4. PT. Sejahtera Eka Graha in the form of BMN with a reasonable value of Rp1,227,507,101,000.5. PT. Varuna Tirta Prakasya (persero) is in the form of BMN with a reasonable value of Rp24,127,146,000.6. PT. ASDP Indonesia Ferry (persero) in the form of BMN with a reasonable value of Rp367,531,225,000.7. Damri's Perum is BMN with a reasonable value of Rp460,721,700,000.8. Perum LPPNPI/Airnav Indonesia is BMN with a reasonable value of Rp301,892,091.817.9.PT. Pertamina (persero) is in the form of BMN with a reasonable value of Rp4,182,922,836,180.10. PT. Nusantara III Plantation (persero) is BMN with a reasonable value of Rp828,361,655,982.11. Perumnas is a BMN with a reasonable value of Rp1,109,679.804,000.12. PT. Danareksa (Persero) is a BMN with a reasonable value of Rp3,347,181,751,745.

Dolfie conveyed that the implementation of PMN was directed in accordance with the efforts, policies, programs, and performance of each State-Owned Enterprise.

In addition, Dolfie conveyed that State-Owned Enterprises that received Cash State Equity Participation, Non-Cash State Capital Participation originating from Debt Conversion, Cash State Equity Participation from Investment Financing Reserves, and State Equity Participation from State Property submitted a report on the performance of the use of State Capital Participation per semester.

Furthermore, the Ministry of Finance guarantees and is responsible that the value of BMN handed over to State-Owned Enterprises as Central Government Equity Participation (PMPP) will be adjusted back based on an assessment with valid and accountable appraisal principles.

Then, the Government will include a roadmap for Indonesian railways, which contains, among others: train production strategy; railway industry; fulfillment of population transportation needs, and others, in every PMN submission for the railway sector.

Furthermore, PMN Non-Cash originating from State Property Ministries/Institutions will be synchronized starting from budget planning to submission to related SOEs to be regulated in the Regulation of the Minister of Finance.

"Thank you, the leadership for the several principles that have been conveyed in the draft conclusion, I think it contains various good governance things that Commission XI wants to build and I want to be grateful for that," said Finance Minister (Menkeu) Sri Mulyani Indrawati.

Sri Mulyani expressed her appreciation from Commission XI by conducting an in-depth investigation and looking more carefully at all cash and non-cash PMNs to be implemented for the 2024 budget.

"For this principle, the non-cash PMN that will be applied with a more valid value, I am also good governance and later we will carry it out by being asked for what is stated in the points by Mr. Dolvi," he said.