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Jakarta Post

Indonesia targets Rp 40 trillion SOEs injection for 2021 recovery

  • Adrian Wail Akhlas


Jakarta   /   Wed, November 11 2020   /  01:00 am
Illustration of rupiah in the time of coronavirus(JP/Mecca Yumna NP)

Indonesia will provide Rp 42.38 trillion (US$2.95 billion) in state capital injections (PMN) for state-owned enterprises (SOEs) in 2021 to boost their role in supporting the country’s economic recovery. Finance Ministry state assets director general Isa Rachmatarwata the PMN for SOEs was expected to spur economic recovery, adding that the government would oversee the disbursement of the funds by the SOEs. “We want to see SOEs participating in reviving the economy, creating jobs and conducting business activities that will have a multiplier effect,” he told reporters in a press briefing on Friday. The government will inject Rp 5 trillion into state electricity giant PLN, which will use the funds to develop transmission infrastructure and electricity distribution in villages, according to Isa. Meanwhile, state-owned construction company PT Hutama Karya will recei...