The DPR Approves Rp73.26 Trillion in PMN for 10 SOEs in 2023, Mostly in Cash

The Indonesian House of Representatives (DPR RI) Commission VI has approved the Ministry of State-Owned Enterprises (SOEs) proposal for State Capital Injection (PMN) for the 2023 fiscal year. A total of Rp73.26 trillion will be disbursed to 10 SOEs.

The majority of the capital injection, amounting to Rp69.82 trillion, will be in cash. The remaining Rp3.44 trillion will be in non-cash form.

"Further discussions will be held. The DPR Speaker, Commission VI, Commission XI, and the Budget Board (Banggar) will coordinate and discuss any necessary adjustments to other budget expenditures to ensure legal compliance," said Deputy Chairman of Commission VI, Mohamad Hekal, as quoted by *Katadata.co.id* on Monday (4/7/2022).

Most parliamentary factions in Commission VI approved the PMN, although some opposition factions expressed concerns about the effectiveness of government funds usage in SOEs.

The largest capital injection, Rp30.56 trillion, was allocated to PT Hutama Karya. This funding will strengthen its capital structure to continue the construction of the Trans-Sumatera Toll Road as mandated by the government.

PT PLN will receive Rp10 trillion in cash PMN. PT Aviasi Pariwisata Indonesia will receive Rp9.5 trillion, and PT Bahana Pembinaan Usaha Indonesia (IFG) will receive Rp6 trillion.