Airlangga Reveals Government Will Save Sritex

Coordinating Minister for the Economy Airlangga Hartarto (Photo: Aris Nurjani/VOI)

Coordinating Minister for Economic Affairs Airlangga Hartarto said that in rescuing PT Sri Rejeki Isman Tbk (Sritex) from bankruptcy, namely by ensuring that factory activities continue.

Airlangga said that the Sritex case had been processed in court and the curator had been appointed, so the Government would speak to the curator.

"Yesterday, I spoke with the Director General of Customs and Excise that going concern or factories should continue. Therefore, exports will continue," he said after the opening of the 2024 ISEF, at JCC, Wednesday, October 30.

Then for the next stage, Airlangga conveyed that Sritex had submitted a cassation process to the Supreme Court (MA) regarding the decision of the Semarang Commercial District Court (PN).

However, Airlangga hopes that the process can be completed quickly based on applicable legal regulations.

"Of course the next stage is that there is an cassation process, and we just follow the ongoing legal process. But we still keep it from stopping factories," he said.

Previously, Airlangga conveyed that based on directions from President Prabowo in a limited cabinet meeting, Sritex must continue to operate.

"The first most important direction of the President is to keep exports running, production running," said Airlangga when met at his office, Tuesday, October 29.

Airlangga explained that this had also happened in the West Java Bonded area which was sued for bankruptcy, but still operated for short-term settlements.

In addition, Airlangga said that Customs and Excise had approved export and import activities for Sritex products to continue.

"Therefore, the Customs and Excise had already met with the curator and Sritex, so hopefully this can run immediately for the short term, in the next term other stages need to be seen again," he said.