Purbaya Ensures BUMN Dividends Just Pay Debt

Minister of Finance Purbaya Yudhi Sadive (Photo: Doc. VOI)

JAKARTA - Minister of Finance Purbaya Yudhi Sadive emphasized that the State Revenue and Expenditure Budget (APBN) will not be used to pay for the obligation of the Fast Train project led by PT Kereta Cepat Indonesia China (KCIC).

Purbaya explained that the rejection was based on a new policy that shifted dividend receipts from BUMN, which previously entered the state treasury, which is now being distributed to BPI Danantara which is targeted to reach IDR 90 trillion by 2025.

Danantara received dividends from BUMN of almost Rp90 trillion. That's enough to close the annual Rp2 trillion paid for the high-speed train, and I'm sure the money will also be more every year, Rp90 trillion will be more, and part of it is said to be placed in bonds, mine again, to the government again," he told the media crew, Wednesday, October 15.

He conveyed that regarding the use of the funds for the purchase of government bonds, there was a question about the effectiveness of the Danantara strategy.

However, Purbaya said that the Danantara argued that the placement of funds in bonds was only temporary, because they had not had time to prepare long-term projects and promised to improve this in the future and focus more on financing productive projects.

In addition, he said the Danantara had expressed their readiness to re-examine the payment scheme and submit proposals to the government.

"If I say, I have decided, yes, I think we will wait for what the study will look like. But what is clear is that I asked him earlier, whether in his clause someone must pay the government, the important thing is that if I know CDB, I have discussed with CDB first, they are the important structure of the payment is clear," he said.

He also added that as long as the payment structure to CDB remains transparent and secure, the source of financing from Danantara is still possible.

"So there should be no problem, if the intermediary pays too. We'll see what happens, and we'll wait for orders from the President," he said.