THE Government of Indonesia has allocated an additional support fund for State Owned Enterprises (SOEs) totaling IDR149.29 trillion affected by the COVID-19 pandemic.

According to Minister of Finance Sri Mulyani Indrawati, in the national economic recovery (PEN) we provided in the form of subsidies, compensation, PNM (state capital participation) and bailouts. The SOEs that received financial support had also previously received similar support in the form of subsidies, compensation and PNM in Perpres 54 of 2020 related to changes in posture and details of the 2020 APBN.

Sri Mulyani explained that the state-owned company that received government funding support was compensation given to the State Electricity Company (PLN) because electricity tariffs that had not risen for nearly five years amounted to IDR48.8 trillion and PNM IDR5 trillion in presidential decree 54 in 2020.

PT Pertamina, he said, also received compensation funds from no increase in fuel prices that had been set by subsidies and in accordance with the Supreme Audit Board (BPK) audit result of IDR45 trillion. Then, support in the form of PNM to Hutama Karya totaled IDR11 trillion, Bahana for Indonesian Business Development (BPUI) IDR6.27 trillion, Madani National Capital (PNM) IDR2.5 trillion, and Indonesia Tourism Development Corporation (ITDC) IDR500 billion.

“Furthermore, in the form of bailout funds for working capital namely PT Kereta Api Indonesia (KAI) IDR3.5 trillion, PT Perkebunan Negara (PTPN) IDR4 trillion and Krakatau Steel IDR3 trillion, Perumnas IDR650 billion and Garuda Indonesia also received working capital bailout funds amounting to IDR8.5 trillion,” she said.

She added, if there were SOEs that were facing legal issues and did not mean closing their questions but this would be done with high transparency governance and accountability. We involve the Financial and Development Supervisory Agency (BPKP), the Supreme Audit Board (BPK) and the Corruption Eradication Commission (KPK). In addition, the State Logistics Agency (Bulog) received social assistance of IDR10.5 trillion.

Other support, she continued, the government also allocated IDR26.1 trillion in addition to PNM, subsidies and compensation consisting of optimization of state-owned goods (BMN) of IDR500 billion to Hutama Karya.

The Minister of Finance said the corona virus outbreak affected a number of SOEs both in terms of demand and supply, operational and financial especially for payments to second parties. [antarnews/ photo special]