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Without a massive increase in investment, our economy will diverge further from the National Medium-Term Development Plan road map, which envisions a gradual increase in gross domestic product growth from 5.3 percent in 2025 to 8 percent in 2029.
Several private companies, including Garibaldi "Boy" Thohir's Adaro Energy, have been dragged into the spotlight after prosecutors charged PT Pertamina and its subsidiary, PT Pertamina Patra Niaga (PPN), with corruption that allegedly cost the state trillions of rupiah. The case centers on the underpricing of unsubsidized Solar and Biosolar, Pertamina's diesel and biodiesel fuel brands, sold to numerous private sector buyers. The indictment, which could result in state losses of up to hundreds of trillions of rupiah, has sparked a heated debate among experts and civil society. Some caution against the potential criminalization of private sector buyers, while others insist on pursuing all possible corporate links to the corruption scheme.
While the government’s call for unity resonates, experts and business leaders caution that the state-centric approach may stifle market forces unless accompanied by reforms to lower economic costs and strengthen the rule of law.
Philanthropic organizations, through partnerships with civil society organizations, the private sector and government, can play a key role in facilitating the disbursement of climate finance to communities taking climate action.
