Minister Rini Asserts SOE Debt is Rp2,000tn, Not Rp5,000tn
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14 December 2018 13:35 WIB
TEMPO.CO, Jakarta - State-Owned Enterprises (SOE) Minister Rini Soemarno asserted that the debt of state company is around Rp2,000 trillion, not Rp5,000 trillion.
“Earlier, someone speaks of the amount of SOE debt at Rp5,000. I need to stress that the state corporation's debt is Rp1,980 trillion, almost Rp2,000 trillion,” Minister Rini noted in Jakarta, Thursday, December 13.
She explained the figure Rp5,000 trillion was the calculation of the banking activity, and that is not SOE which carried out toll road construction project and others. "The SOE bank has Rp3,000 trillion of assets and liabilities or third-party funds. That should be separated,” Rini said.
According to the minister, there is no problem as long as the state corporation takes debt for the sake of the development project or any productive measures and its repayment is clear. “I continuously underline that SOE must be responsible to debt because SOE has a duty to pay employees, give dividends, pay tax, and pay the non-tax state revenue (PNBP),” she added.
The minister mentioned SOEs contributed to almost Rp380 trillion for the 2018 State Budget, which was comprised of dividends, tax, and PNBP. “We have debts, but we are still responsible for what we do. And in fact, we can improve business and increase our revenue,” said Rini during an event of Spirit of Millennials Games Day 2018.
The SOE Ministry's deputy for business restructuring and development Aloysius Kiik Ro seconded the minister’s statement. He outlined that debt of 143 state corporates per the third quarter of 2018 was at around Rp2,000 trillion.
