Deputy Minister Tiko: The BUMN Super Holding Study Continues

Deputy Minister of SOEs Kartika Wirjoatmodjo. (Photo: Mery Handayani/VOI)

Deputy Minister of State-Owned Enterprises (BUMN) Kartika Wirjoatmodjo said the study related to the formation of a super holding BUMN during the Prabowo Subianto administration was still ongoing.

As is known, Prabowo initially planned to turn the Ministry of SOEs into an agency. Later, the agency will become a Tamasek-like super holding in Singapore, Khazanah in Malaysia, or SASAC in China.

"If we hold super holdings, we will continue to study them legally. We will continue to conduct studies with experts, so that they can be effective in getting there," he told reporters, written Tuesday, October 22.

The man who is familiarly called Tiko said the government wants SOEs to become a state asset entity with professional management. But also on a large and global scale.

"We know that in the world there is Temasek, Khazanah (Malaysia), we believe that SOEs can be greater than these entities in the world," he said.

Before it was reported, the government of the elected president Prabowo Subianto was rumored to be carrying out massive reforms against the Ministry of SOEs. One of the plans circulating is to change the ministry's structure to a body or super holding.

Senior Economist Piter Abdullah admitted that he agreed with the plan. According to him, in several developed countries, the state-owned company is in the form of a super holding.

"That's really good. It's actually very good. The practice of SOEs in many developed countries is super holding. With super holding, it means that we place the SOEs for pure corporations," he told VOI, Thursday, October 3.

Pieter said the reform was a solution to a number of the first problems that had been around SOEs. Such as politicization to excessive bureaucratization.

"(With a super holding) he is required to be more professional. There is no political deposit there and what is clear is that it actually functions as a corporation that does not have an assignment from the government. He is no longer an extension of government programs," he explained.

Pieter said this reform has the potential to change the governance of SOEs from conducting bureaucratic to being more corporate-oriented by focusing on pure business considerations.

"We will no longer hear SOEs, we will no longer listen to how SOEs bear subsidies, no. SOEs really focus on how they carry out their functions as corporations," he said.