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Jakarta Post

Govt increases salaries of SOEs' boards of directors. How much they earn?

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, July 4, 2019   /   12:09 pm
Govt increases salaries of SOEs' boards of directors. How much they earn? State-Owned Enterprises Minister Rini Soemarno (JP/Tirta Utama Umbas)

The government has decided to increase the salaries of board of directors of state-owned enterprises (SOEs) this year, based on a regulation issued by the SOEs minister on May 31.

The salary increase is based on Regulation No. PER-01/MBU/05/2019, which was an amendment of Regulation No. PER-04/MBU/2014 on the income of boards of directors, boards of commissioners and members of the SOEs' supervisory council.

Under the new regulation, the salary of deputy president directors of SOEs is 95 percent that of president directors, marking an increase of 5 percent, while human resources directors and other directors have salaries that are 90 and 85 percent of president directors’ salaries respectively.

Meanwhile, the new tantième or bonus for deputy president directors also increased, from 90 percent to 95 percent that of president directors, while human resources directors' bonus increased to 90 percent and other directors to 85 percent.

Kontan.co.id reported in 2018 that the salaries and bonuses of 11 directors of state-owned lenders were at 175.85 billion annually, a 15.9 percent increase from 151.72 billion in 2017, while the amount in bonuses was Rp 2272.53 billion in 2018, a 38.74 percent increase from 196.42 billion in 2017.

Each Bank Mandiri director received a salary of about Rp 15.98 billion and bonus of Rp 24.77 billion in 2018 annually. (bbn)