House approves Rp34.3 trillion fund injection for state firms

Nearly Rp34.32 trillion of the fund injection will be disbursed in cash and the remaining Rp2.57 trillion through non-cash instruments.
Jakarta (ANTARA News) - The House of Representatives (DPR) has approved a state fund injection of Rp34.32 trillion to 23 state-owned companies through the 2016 state budget.

"The House Commission VI agrees to the state capital placement of Rp34.32 trillion for state-owned companies under a program, which lays emphasis on the governments priority projects related to infrastructure development, energy sovereignty, food sovereignty, and smallholder business credit," Chief of the House Commission VI Achmad Hafizs Tohir stated at a working meeting with State Enterprises Minister Rini Soemarno at the parliament building here on Tuesday.

Nearly Rp34.32 trillion of the fund injection will be disbursed in cash and the remaining Rp2.57 trillion through non-cash instruments.

Under the cash injection program, PT Perusahaan Listrik Negara (PLN) will receive Rp10 trillion, PT Hutama Karya Rp3 trillion, PT Wijaya Karya Rp4 trillion, PT Angkasa Pura II Rp2 trillion, PT Pembangunan Perumahan (PP) Rp2.25 trillion, State Logistics Board (Perum Bulog) Rp2 trillion, PT Krakatau Steel Rp1.5 trillion, and PT Pelindo III Rp1 trillion.

The other recipients of the state fund injections are PT Jasa Marga with Rp1.25 trillion, PT Industri Kereta Api (INKA) Rp1 trillion, Perum Perumnas Rp250 billion, and PT Perusahaan Perdagangan Indonesia (PPI) Rp1 trillion, while PT Barata Indonesia, PT Askrindo, Perum Jamkrindo, PT Bahana PUI, and PT Pertani will receive Rp500 billion each.

State firms that will receive non-cash injections are PT Krakatau Steel with Rp956.49 billion, PT Rajawali Nusantara Indonesia (RNI) Rp692.5 billion, PT Pelni Rp564.8 billion, Perum Perumnas Rp235.41 billion, PT Perkebuna Nusantara VIII Rp32.78 billion, PT Amarta Karya Rp32.15 billion, PT Perikanan Nusantara Rp29.4 trillion, and PT Perkebunan Nusantara I Rp25 trillion.(*)

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