JAKARTA - Deputy Minister of SOEs Pahala Nugraha Mansury ensured that the performance of the two energy State-Owned Enterprises (BUMN), namely PT Pertamina (Persero) and PT PLN (Persero) were not affected by the weakening of rupiah.
Pahala explained, until the month of AGustus 2022, the condition of the two companies has a very good performance as seen from the demand this year has increased significantly, both on the demand side for businesses and for households.
"So we see that it is quite positive even though there is a weakening of rupiah, there is no significant value of value in the two SOEs," said Pahala at the Energy Corner event which was held in Jakarta, Monday, October 3.
He admitted that the two SOEs have an obligation to use foreign currency (valas) in conducting transactions during the procurement of energy sources, but both of them are also disciplined in implementing hedging that has been determined according to applicable regulations, which is above 25 percent of the company's net obligations.
"So we haven't seen the weakening of the rupiah affect the performance of the two SOEs. On the other hand, there are several things that provide positive benefits to Pertamina and PLN," he said.
In fact, added Pahala, currently Pertamina is making a profit on the upstream side and PLN is also benefiting from industrial demand which is currently increasing again.
"Pertamina has a Working Area (WK) so that in the first half the revenue has increased significantly from before. Meanwhile, PLN demand from the industry has increased significantly as well. So we see that so far the movement is still very safe," he continued.
For your information, quoted from Antara, the rupiah exchange rate (exchange rate) transacted between banks in Jakarta on Monday morning weakened 28 points or 0.18 percent to IDR 15,255 per US dollar when compared to the position at the close of the previous trade of IDR 15,227 per US dollar.
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