Ahead Of Pertamina's GMS, Observer: The Expiration Of The Board Of Directors Will Be Very Interesting

Photo: Irfan Meidianto/VOI

JAKARTA - Economic and business observer from Pasundan University, Acuviarta Kartabi, said that there were many interesting things at the Pertamina General Meeting of Shareholders (GMS), in the near future. The reason is, through the GMS, Pertamina's secret is to achieve the largest profit in 2022.

For the first time in history, the oil and gas company achieved the largest net profit, which was IDR 56.6 trillion, an increase of 86 percent compared to the previous year.

"Yes (it will be very interesting for the GMS later). Because the board of directors will explain Pertamina's extraordinary achievements throughout 2022. So, let's wait together," said the man who is familiarly called Acu to the media today, Saturday, June 3.

According to Acu, the GMS will be proof of how Pertamina responds to challenges by making the biggest contribution in history. Moreover, the achievement is very proud to have the energy SOEs in the midst of conditions that are still shrouded in uncertainty.

Acu also does not deny that one of the factors estimated to be the cause is the digitization carried out by Pertamina, from upstream to downstream. Through digitalization, Pertamina can increase efficiency significantly. As a result, the company's profits have increased considerably.

Wow, this (pertamina digitization) is extraordinary. I really appreciate if it is true that digitalization is part of Pertamina to increase efficiency," continued Acu.

Acu added that digitization from upstream, midstream, to downstream sectors will make Pertamina's entire business flow very controlled. Including supervision of production and distribution chains.

But to what extent does it affect? This is where according to Acu, the explanation of the board of directors at the GMS regarding digitalization factors is also very interesting to watch.

With digitization, end to end delivery can be controlled so that it is much more efficient. Including being more timely, so that governance also becomes better. That's why this is interesting," he added.

On the other hand, Acu also estimates that there are at least several factors that also affect Pertamina's performance improvement.

First, what cannot be ruled out, is government support. Through the Ministry of Finance, the Government made changes to the Minister of Finance Regulation (PMK) No. 159/2022 so that compensation funds could be disbursed more quickly.

"This condition, he explained, greatly affects liquidity conditions and ultimately affects Pertamina's financial health," he explained.

Second, the distribution of gas for highly prospective households. Third, related to the US Dollar monetization strategy for relatively good foreign transactions. Fourth, efficiency in terms of transportation that will conflict with the reduction in costs.

"I think these combinations can improve liquidity from Pertamina's income so that performance is getting better," he said.

But whatever, added Acu, it should be seen from the explanation of the board of directors regarding this extraordinary achievement. Because it is believed, that interesting things can be revealed through the GMS.

"That's why we are waiting together," concluded Acu.