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The string of recent appointment of Prabowo Subianto's close aide and of Gerindra Party members as state-owned enterprises (SOEs) commissioners or deputy ministers is intended to help prevent any political turbulence during the government transition and to help the president-elect and his party secure long-term political gain for the 2029 elections, observers have said.
Throughout 2023, PT Pertamina (Persero) contributed roughly Rp 425.5 trillion (US$25.9 billion) to state revenue. This contribution came from tax payments and dividends. As a state-owned enterprise (SOE), Pertamina is committed to driving the national economy, and complying with tax payments is one of its key practices.
Aramco reported record profits in 2022 after Russia's invasion of Ukraine sent oil prices soaring, allowing Saudi Arabia to record its first budget surplus in nearly a decade. But the Saudi cash cow saw its profits drop by a quarter last year because of lower oil prices and production cuts.
The SOEs minister has proposed state capital injection totaling just over US$2.7 billion for next year, the bulk of which is intended to save toll road projects helmed by heavily indebted state-owned developers.
State-Owned Enterprises (SOEs) Minister Erick Thohir announced that his ministry would adopt a four-day work week allowing employees to have longer weekends, in an attempt to address mental health problems.
