Pay Retirement SHT, Observer: Evidence Of The Success Of PTPN II Transformation

Illustration. (Photo: Doc. Antara)

JAKARTA - Director of the Institute for Development of Economics and Finance (INDEF) Tauhid Ahmad said that the steps taken by PT Perkebunan Nusantara (PTPN) II, which was again able to pay old-age compensation (SHT) are proof of the success of the transformation of State-Owned Enterprises (BUMN).

The member of the Nusantara plantation holding in the last ten years has not been able to pay obligations to retirees. Tauhid said there are three keys to transformation for SOEs, including PTPN which leads to improved performance.

"The first transformation is how to fix, even cut the organizational structure to make it more efficient," said Tauhid in Jakarta, quoted on Saturday, May 6.

The second transformation, said Tauhid, lies in the side of improving the quality of human resources (HR), from the highest level in the board of directors to the lowest. Tauhid assessed that the improvement in human resources had a big impact on the condition of PTPN.

"If there are directors who do not perform or do not achieve the target, they must be replaced. From the two transformations, it will certainly produce efficiency," continued Tauhid.

Tauhid conveyed that transformation on the business side also plays a key role. Tauhid said PTPN groups should not be complacent about positive achievements throughout 2022.

Tauhid said the increase in PTPN group performance in 2022 could not be separated from external factors. Tauhid said the increase in commodity prices had a major impact on PTPN's performance.

"The volatile commodity price also stores risks when prices are down. PTPN group must make good use of profits due to soaring commodity prices for future performance. Again happy, don't spend it but must be used for efficiency and innovation in the future," said Tauhid.