Deputy Minister Of BUMN Conveys Ways Of Waskita Karya To Reduce Mounting Debts Of IDR 90 Trillion

Deputy Minister (Wamen) of BUMN Kartika Wirjoatmodjo. (Photo: Doc. Antara)

JAKARTA - SOE Deputy Minister (Wamen) Kartika Wirjoatmodjo said PT Waskita Karya (Persero) Tbk (WSKT) is in the process of divesting shares or divesting six toll roads managed by the state-owned construction company. This divestment is Waskita Karya's effort to reduce the company's debt which has reached Rp90 trillion.

"Currently Waskita is divesting the toll road which was completed at the beginning of the year. Waskita has 18 sections to work on, 5 of them own and 13 of them being taken over by the private sector. A total of 5 sections were sold by foreign and domestic investors," said the man who is familiarly called Tiko, in a meeting The work of the Ministry of SOEs with Commission VI of the House of Representatives of the Republic of Indonesia regarding the Discussion on the Proposed SOEs to Accept PMN in 2022, in Jakarta, Thursday, July 8 yesterday.

He added that currently there are 6 more segments to be divested. He hoped, he said, that the divestment process could be completed by the end of the year.

The former President Director of Bank Mandiri said that if the divestment was completed, it would reduce Waskita's current debt. at least half of it.

"If it is divested, Waskita's Rp0 trillion debt will decrease by half, this is important to change Waskita. But we need PMN (state capital participation) to complete other toll road projects that are pipelined," said Tiko.

In the meeting, Waskita became one of 12 SOEs who proposed to get PMN. SOE Minister Erick Thohir on that occasion proposed PMN to SOEs worth Rp72.45 trillion in the upcoming 2022 APBN.

This PMN will be given to 12 SOEs for the purpose of assignment and restructuring. As for Waskita Karya, it is proposed to get PMN worth Rp3 trillion

Tiko said that several state-owned enterprises, especially state-owned enterprises, were indeed quite depressed due to the impact of the COVID-19 pandemic

"The current state of our SOEs is quite worrying, the combination of two things due to COVID-19 to new contracts and heavy sales and assignments. Not supported by adequate PMN, there was no PMN last year 2017-2019, no PMN that covered PSN (strategic project national)," said Tiko.