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Former Agrinas Pangan CEO slammed the government, particularly Danantara, for failing to make substantial interventions to maintain food supply and security, pointing to insufficient funding support for Agrinas during his tenure.
A new regulation frees Danantara and its employees from all liabilities over any decisions made to minimize losses, provided they can demonstrate that the resulting losses were not caused by error or negligence.
While acknowledging the inherent trust demonstrated by foreign banks in committing to such a large amount, and without collateral at that, economists have questioned the urgency of the move and cautioned about potential risks such as mismanagement and project selection.
The practice of appointing SOE commissioners from an arbitrary pool of public officials and political loyalists has become tradition, and requires urgent reform lest it undermine public trust, investor confidence as well as the very purpose of state-owned entities: to serve the public.
Pressure is mounting on President Prabowo Subianto’s administration to remove more than two dozen deputy ministers from their roles as commissioners of state-owned enterprises (SOEs) after the Constitutional Court maintained its position that cabinet members can not hold dual appointments.
