Data Check: What is the Condition of State-Owned Enterprise PT PAL Indonesia's Debt, as Mentioned by Ganjar?
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Presidential candidate number 3, Ganjar Pranowo, highlighted the financial condition of the state-owned enterprise (SOE) in the naval military sector, PT PAL Indonesia.
He made this statement during the third presidential debate of the 2024 Presidential and Vice-Presidential election, themed "Defense, Security, International Relations, and Geopolitics," held at Istora Senayan, Jakarta, on Sunday (7/1/2024).
Ganjar responded to a question from presidential candidate number 2, Prabowo Subianto, regarding defense budget priorities if elected president.
He stated that the main priority is the maritime sector because there are no land-based attacks. He believes that current military procurement planning is too hasty.
“PT PAL today is burdened with debt and cannot execute anything because of it,” said Ganjar.
(Read also: Jokowi Merges 5 SOEs into Defend ID, This is the Size of its Assets)
PT PAL Indonesia is a SOE that produces Indonesian defense equipment, specifically for the naval forces. Citing its 2022 financial report, PT PAL's debt (liabilities) is indeed greater than its equity.
In 2022, PT PAL's debt reached Rp6.9 trillion, or 6.9 times its equity of Rp1.01 trillion. This financial condition shows improvement, considering that PT PAL's equity had reached a negative Rp142 billion in 2020.
(Read also: Fact Check: Anies Says Defense Budget Cannot Address Cyber Issues, How is the Ministry of Defense's Budget Allocation?)
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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