Government Prepares Ex-BLBI Asset Scheme To Be Used As PMN For SOEs

Director of State Asset Management and Information Systems DJKN Ministry of Finance Purnama T. Sianturi

JAKARTA - The government through the Ministry of Finance (Kemenkeu) said that a scheme for the transfer of confiscated assets from former Bank Indonesia Liquidity Assistance (BLBI) is currently being prepared as an injection of State Equity Participation (PMN) for State-Owned Enterprises or BUMN.

Director of State Asset Management and Information Systems DJKN Ministry of Finance Purnama T. Sianturi said the finalization process was still being carried out in order to obtain the best profile of the BUMN recipient of the asset.

"What is certain is that when the asset is to be PMNed, the journey must look at the economic side, the benefits of the asset, and whether the recipient of the PMN (BUMN) is in accordance with the business being run. So, the assessment by the team really covers all aspects," he said during a virtual discussion on Friday, March 18.

Given that the review process is still ongoing, Purnama could not provide further information on which SOEs were selected to receive these assets.

"We are not able to provide information on the name of the BUMN because it will be chosen which BUMN that fits its function with the assets that we will PMN," he said.

According to VOI records, as of January 20, 2022, the total assets of the former BLBI that were successfully controlled by the state from debtors and obligors were IDR 15.11 trillion. This figure jumped quite high from the book until December 31, 2021, which was valued at Rp. 9.82 trillion.

This value is relatively small from the government's estimate which states that the state's losses from the central bank bailout 20 years ago reached Rp110 trillion.

Meanwhile, the assets that have now been successfully controlled by the BLBI Task Force are scattered in various locations throughout Indonesia, both in the form of cash, land, houses, office buildings, and other forms.

For information, this year the DPR has approved the Ministry of Finance's proposal to disburse a budget of Rp. 67.2 trillion to eight BUMN recipients of the 2022 PMN.

The funds were distributed to PT Hutama Karya of Rp 23.85 trillion, PT Waskita Karya of Rp. 3 trillion, PT State Electricity Company (PLN) of Rp. 5 trillion, and PT Sarana Multigriya Finansial (SMF) of Rp. 2 trillion.

Then, PT Adhi Karya Rp1.97 trillion, Perum Perumnas Rp1.56 trillion, the State Asset Management Institute Rp28.84 trillion, and PT Guarantee Infrastructure Indonesia Rp1.08 trillion.