TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Govt to inject $2.5b in SOEs to stimulate economy

  • Adrian Wail Akhlas

    Jakarta

Jakarta   /   Sat, September 19 2020   /  01:00 am
Rupiah banknotes(Shutterstock.com/Maciej Matlak)

The government has proposed providing Rp 37.38 trillion (US$2.5 billion) in capital injections for state-owned enterprises (SOEs) next year, some of which will be used to resolve the investment mismanagement scandal involving state insurer PT Asuransi Jiwasraya. During a meeting with House Commission XI overseeing financial affairs on Tuesday, Finance Minister Sri Mulyani Indrawati said the capital injections were part of the government’s investment plan for next year. “[The capital injections] will be used to finance the development of the Sumatra toll road, tourism development and [to fund] the opening of Batang industrial area, among other projects,” she told lawmakers, referring to the Trans Sumatra toll road mega project and the development of the new industrial zone in Central Java. The government plans to inject funds into eight SOEs, including Rp 20 tri...