Erick Thohir: We don't want to monopolize the industry, our market is open
Translator
Editor
3 January 2023 01:18 WIB
TEMPO.CO, Jakarta - Minister of State-Owned Enterprises (BUMN) Erick Thohir, emphasized that the government does not want a monopoly on the industry business systems. Erick mentioned that the market mechanism that should be implemented in Indonesia is an open market.
"Yesterday they complained that Garuda's tickets are expensive. So, we have Pelita Air. We don't want our industry to be monopolized. Our market is an open market," said Erick in a BUMN 2023 press conference entitled "Growing and Strong for Indonesia" at his office on Monday, January 2, 2023.
Erick mentioned that all types of industries, including aviation, should not be monopolized by certain parties. For example, in the aviation industry, several BUMNs are working on different market segments.
"Garuda is the premium, Citilink is at low cost, and Pelita is in the middle," said Erick.
On that occasion, Erick also said that his party would create a tourism business ecosystem. "An ecosystem can be formed if we are not suspicious of each other. An ecosystem will occur if all stakeholders put their egos in the middle. This is what we are pushing for," Erick said.
Erick said the management of airports, tourist destinations, hotels and modes of transportation could become much clearer within the tourism ecosystem. The integrated ecosystem involves not only state-owned companies but also many other private companies involved.
"Those who come to the airport might need taxis. There is Gojek and Grab, that's an ecosystem. This is what we are pushing for," said Erick Thohir.
Regarding Garuda Indonesia, Erick previously expressed his hope that the state-owned airline could recover its performance after fulfilling the homologation requirements. Meanwhile, Garuda has fulfilled the obligations of the settlement agreement with creditors and is to implement it as of January 1, 2023.
The entire series of the fulfilment of obligations in the homologation, said Erick, is going to be completed after the rights issue is completed. Garuda has also issued new Sukuk or sharia-compliant bonds.
“May Garuda fly high again, this time with sustainability and profitability," said Erick in a statement, Saturday, December 31, 2022.
The Garuda settlement agreement homologation requirements package includes the issuance of new bonds and new sharia-based bonds (Sukuk) on December 28 and 29, 2022. Previously, the state-owned airline received State Equity Participation (PMN) valued at Rp 7.5 trillion from the government.
Garuda also issued new shares by providing rights issues (HMETD) and capital increases without Private placement (PMTHMETD). Erick claimed that this process was part of the largest and most complex restructuring in the history of Indonesian corporations.
AMELIA RAHIMA SARI
Click here to get the latest news updates from Tempo in Google News
