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SOEs owe Rp 30t to Pertamina
State companies are sticking to a tradition of abusing their special ties with state oil and gas producer PT Pertamina by delaying payments for purchases of fuel
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tate companies are sticking to a tradition of abusing their special ties with state oil and gas producer PT Pertamina by delaying payments for purchases of fuel.
Four state companies and one private firm account for combined overdue payments of Rp 30.2 trillion (US$3.2 billion), Pertamina president director Karen Agustiawan said in a hearing with the House of Representatives on Thursday.
"Until November these companies owed us about Rp 30.2 trillion. Mostly for fuel payments," Pertamina president director Karen Agustiawan said in a hearing between the House of Representatives and several state owned enterprises in Jakarta.
State utility company PT Perusahaan Listrik Negara (PLN) is the biggest debtor owing a total of Rp 18 trillion for purchases of fuel to generate electricity for the public. The figure excludes PT PLN's Rp 4.5 trillion long-term debt to Pertamina.
Indonesia's armed forces are the second biggest debtor, owing Rp 7.1 trillion. Pertamina has long historical ties with the armed forces. Since its inception in August 1968, Pertamina was under the strong influence of military officers with lieutenant general Ibnu Sutowo serving as the first and the longest presiding president director of the company under the direct approval of President Suharto.
Historians described Pertamina being used as a *cash cow' by both Suharto and the military during the New Order era.
The third biggest debtor is state airline company PT Garuda Indonesia, owing Rp 720 billion. Another state airline company, PT Merpati Nusantara, also owes Pertamina Rp 313 billion.
"Merpati and Garuda have bought aviation fuel (kerosene) from us," Karen said.
Besides state companies and institutions, another private company in which Pertamina has a minority shareholding, PT Trans Pacific Petrochemical Indotama, owes substantial unpaid debts to Pertamina.
"The company still owes us Rp 3.9 trillion," she said.
Throughout the hearing, Karen declined to clarify how Pertamina would take action against these firms to resolve their unpaid debts.
