MSME Vendors Shouting Debts Haven't Paid Off, SOE Minister Will Auction Istaka Karya's Assets

BUMN illustration (photo: Doc. VOI)

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir will auction off debt guarantee assets of PT Istaka Karya (Persero) through an Asset Management Company (PPA) to pay debts from vendors from various micro, small and medium enterprises (MSMEs).

This decision was taken because the debt problem with MSME vendors had not been resolved since 2013 and Istaka Karya had been bankrupted by the court in 2022.

On August 4, the panel of judges at the Central Jakarta District Court (PN Jakpus), curators, and creditors will announce the completion of MSME creditors and other creditors, including the progress of the auction of assets belonging to Istaka Karya.

"One of the schemes, PPA's debt guarantee assets will be auctioned, then part of the auction proceeds will be used to pay MSME creditors registered on the creditor list," said Erick, in Jakarta, Monday, July 31.

Furthermore, Erick also promised to solve the Istaka Karya problem that befell MSME vendors and infrastructure development vendors was resolved through the Central Jakarta District Court process.

"God willing, we will solve the problems that actually existed before we served at the Ministry of SOEs. We are ready to work hard so that the problems left by Istaka Karya and befell MSMEs and infrastructure development vendors are resolved through the central Jakarta district court process, curators and creditors will announce," he said.

For your information, Istaka Karya has a record of working on various infrastructure projects involving many MSMEs and development vendors. One of them, the Ir Sedyatmo Toll Road Project in 2007-2008. The project has not been paid for by Istaka Karya since 2011.

This company has also been charged with Postponing Debt Payment Obligations (PKPU) and was declared homologous so that Istaka Karya's debts were converted into shares in 2013.

However, in 2022, Istaka Karya was decided to bankrupt the Central Jakarta District Court. Istaka Karya was officially disbanded in March 2023 based on Government Regulation (PP) Number 13 of 2023.