The government has disbursed Rp 19.7 trillion for 5 BUMNs, consider the considerations

ILLUSTRATION. Coordinating Minister for the Economy Airlangga Hartarto (center) accompanied by BUMN Minister Erick Thohir (second right), Minister of Health Terawan Agus Putranto (second left), Head of BNPB Doni Monardo (left) and Deputy Minister of BUMN I Budi Gunadi Sadikin (right) giving a conference

Reporter: Yusuf Imam Santoso | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. In the framework of the 2020 National Economic Recovery (PEN) program, the government has allocated funds of IDR 19.7 trillion for five State-Owned Enterprises (BUMN) as stated in the Minister of Finance Regulation (PMK) Number 118 / PMK / 06/2020 concerning Government Investment in the Context of National Economic Recovery Program. This regulation will take effect from September 2, 2020.

PMK 118/2020 is a derivative rule from Government Regulation Number 43 of 2020 concerning Amendments to Government Regulation Number 23 of 2020 concerning Implementation of the National Economic Recovery Program in order to Support State Financial Policy for Handling Pandemic Corona Virus Disease 2019 (Covid-19) and / or Facing Threats that Endanger the National Economy and / or Financial System Stability and Save the National Economy.

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So, through PP 23/2020, the government allocates a government investment budget in the 2020 PEN program in the 2020 State Budget (APBN) as stated in Presidential Regulation (Perpres) Number 72 which changes ABPN’s posture this year due to the pandemic.

With this legal umbrella, the government has agreed that five BUMNs will receive fresh funds. First, PT Garuda Indonesia Tbk (GIAA) amounting to IDR 8.5 trillion. Second, PT Krakatau Steel Tbk (KRAS) worth IDR 3 trillion. Third, PT Perkebunan Nusantara (Persero) amounting to Rp. 4 trillion. Fourth, PT Kereta Api Indonesia (Persero) Rp 3.5 trillion, Fifth, PT Perum Perumnas (Persero), namely Rp. 700 billion.

Now, in PMK 118/2020, government investment in the PEN program is carried out by considering the five assessments of the five BUMNs.

First, influence or impact on people’s livelihoods. Second, exposure to the financial system.

Third, the role of potential investment recipients. Fourth, government ownership in SOEs as potential recipients of investment. Fifth, total assets owned by BUMN.