Minister Of Finance Purbaya: Debt Of Badminton Should Be Withdrawn From SOE Dividends Managed By Danantara

The Minister of Finance of the Republic of Indonesia, Purbaya Yudhi Sadive. (Photo: Doc. Antara)

JAKARTA - Minister of Finance Purbaya Yudhi Sadewa emphasized that debt financing for the railway project should be the responsibility of the Anagata Nusantara Power Investment Management Agency (BPI Danantara).

According to Purbaya, Danantara as the BUMN holding company has obtained around 80 percent of dividends from state-owned companies, so that loan financing forASH is allocated from the dividend source.

"They should withdraw (payments) from there (dividend). In fact, it can be good if you can pull it out from there. So if you use the APBN, it's a bit funny because fortunately it's difficult for him to come to us, it should be taken all of them," he told the media crew, Monday, October 13.

He considered that the use of the APBN to cover this project debt was unreasonable, because it was Danantara who would benefit from the dividend distribution, while the Ministry of Finance had to bear the burden of his debt.

"So if you used the state budget, it was a bit funny because fortunately it was difficult for him to come to us, if it was taken, take it all," he said.

Previously, Purbaya emphasized that the government would not bear part of the debt from the Jakarta 'Bandung High Speed Rail Project run by PT Kereta Cepat Indonesia' China (KCIC).

According to Purbaya, the responsibility for repaying debt should be under the Anagata Nusantara Resources Investment Management Agency (BPI Danantara), which oversees a number of SOEs, including PT Kereta Api Indonesia (Persero) as KCIC's shareholder.

"What is clear is that I have not been contacted regarding this issue. But KCIC is now under the Danantara, right? If it is under Danantara, they should already have their own management, their own dividends," he said in the Media Gathering of the 2026 State Budget, Friday, October 10.

He explained that Danantara currently manages dividends of around Rp. 80 trillion per year.

With such a large fund, according to him, the resources of Indonesia's Sovereign Wealth Fund (SWF) should be sufficient to solve the debt financing problem for the high-speed rail project, without having to use funds from the state budget.

"If they are under Danantara, they already have their own management, already have their own dividends, which on average a year can reach Rp80 trillion or more. They should be able to manage the debt of the Jakarta Fast Train Project "Bandung from there," he said.

The management structure through Danantara itself is designed to reduce the dependence of entities such as KCIC on state funds, as well as encourage the independence of state-owned companies in financing national strategic projects.

"Let's not be (on stage) anymore. Because if not, then everything will be us again, including the dividends. So this is going to be separated by the private sector from government," he said.