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PNM distributes presidential assistance to 4 million customers
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T Permodalan Nasional Madani (Persero), better known as PNM, has announced that as of September 2020, it had distributed Presidential Assistance (Banpres) directly to 4.06 million customers during the COVID-19 pandemic, with each customer receiving Rp 2.4 million (US$153) in cash.
Rahfie Syaefulshaaf, executive vice president of development and legal affairs at PNM, previously stated that around 5.9 million of the 6.3 million PNM customers had passed the verification process for the Banpres program, which was launched in July that year.
"We have already disbursed Banpres to 4.06 million Mekaar customers out of the 5.9 million who passed verification. The process is quite lengthy, but God willing, the remaining disbursements will be completed later," Rahfie told an online media briefing on Oct. 7, 2020.
He also explained that the Banpres disbursement process involved several steps, beginning with PNM sending a list of potential recipients to the Cooperatives and Small and Medium Enterprises (SMEs) Ministry. The ministry then verified the recipients’ data before passing it on to Bank Negara Indonesia (BNI), a member of the Association of State-Owned Banks (Himbara).
The bank would cross-check the data with debtors’ information on the Financial Information Service System (SLIK) of the Financial Services Authority (OJK) before returning the dataset to the ministry, which would then process it through the Finance Ministry’s Integrated Payment Information System (SKIP).
The SMEs ministry would then submit a payment order (SPM) to the State Treasury (KPN) as a basis for issuing a fund disbursement order (SP2D), which would direct the release of the assistance funds to an RPL account or the recipient's bank account.
Rahfie added that PNM was currently seeking to reevaluate the approximately 400,000 customers out of the original 6.3 million who did not pass the verification stage.
"We are requesting a reevaluation to optimize their eligibility for the Banpres," he said.
He explained that customers who did not pass the verification process were typically recipients of other financing from banks or were participants of the government’s People's Business Credit (KUR) program.
"We cannot freely determine all debtors, because there are [SMEs ministry] regulations that forbid debtors who are already receiving financing from banks [from obtaining additional funds]. Therefore, customers receiving KUR financing are ineligible for the Banpres [funds]," he said.
Rahfie expressed his hope that more PNM customers would pass the data verification stage so they could benefit from the Banpres program. He expected that the number of Mekaar customers would grow to 7.2 million by the end of the year in line with the company’s target.
