JAKARTA - The revision of the Financial Sector Development and Strengthening Law (UU P2SK) is targeted to be completed soon and is expected to be realized next month.
Chairman of Commission XI of the DPR, Mukhamad Misbakhun, conveyed that the process of revising the law was projected to be completed in early June.
According to him, the stage of harmonization with the government has been running and a number of rules have begun to be synchronized with the Government's Problem Inventory List (DIM).
"Hopefully in early June we can finish it. Last night the harmonization had begun at the government level. We have synchronized several rules with the government's DIM, and we will discuss in early June to complete it," he told the media after the National Conference on Regional Economic Development, Monday, May 25.
He added that the discussion on the revision of the P2SK bill in the DPR RI would resume in early June, considering that this week there is a holiday for Eid al-Adha and a joint holiday.
In addition, Misbakhun revealed that the DPR would also continue to revise the State Finance Law after the revision of the P2SK Law was completed, and currently the regulation still refers to Law Number 17 of 2003.
"After we have completed the P2SK Law, we have received instructions to immediately revise the State Finance Law," he said.
According to him, the revision is needed because of changes in the management mechanism of SOEs since the establishment of the Nusantara Anagata Daya Investment Management Agency or BPI Danantara.
He explained that with this change, the Minister of Finance no longer has the status of a state-owned enterprise shareholder and if the State Finance Law is not immediately updated, then the old rules still establish the Minister of Finance as a shareholder of the red plate company.
"The question of legal gaps due to Law Number 1 of 2025 and Law Number 16 of 2025, where Danantara was formed so that the Minister of Finance as a state-owned enterprise shareholder is no longer mandated by law. Meanwhile, there is another law that still says that the Minister of Finance is a shareholder of the state-owned enterprise," he said.
Therefore, Misbakhun said that the government and the DPR would synchronize a number of regulations through the omnibus law scheme, including the State Finance Law, the State Treasury Law, the State Wealth Law that is Separated, to the State Non-Tax Revenue Law (PNBP).
"Where previously state-owned enterprise dividends were non-tax state revenues and became part of our APBN cycle, and this is what must be resolved so that later the law is not as a whole harmonized well," he explained.
Misbakhun emphasized that the revision of the State Finance Law must be immediately completed because it will be the basis for the implementation of the 2027 State Budget which will take effect on January 1, 2027.
"Because the state budget is valid starting January 1, 2027, and we are only discussing it at the KEM-PPKF," he said.
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