The government has revised downward the target of dividend payments this year to Rp30 trillion-Rp35 trillion from Rp40 trillion, he said during a working meeting with Commission VI of the House of Representatives in Jakarta on Thursday.
Last year state-owned companies paid dividends to the tune of Rp43 trillion to the state, he disclosed.
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"Insya Allah (God willing), (the dividend payments) will increase to Rp30 trillion-Rp35 trillion this year. The amount is not fixed. But, we will do our utmost during the pandemic to pay dividends next year at least at the same amount as the target of Rp40 trillion in the previous year," the minister said.
State-owned companies contribute significantly to the government's coffers in the form of dividend payments, taxes, and non-tax state revenue, Thohir said.
State capital participation (PMN) is among the instruments needed by state firms to carry out duties given by the government, he added.
The state capital participation is far lower than the state firms' contributions to the state, he said.
In the meantime, prior to the COVID-19 pandemic, state-owned companies had paid dividends worth Rp377.8 trillion and taxes amounting to Rp1,518.7 trillion to the state during the 2010-2019 period.
"State capital placement (in state-owned companies) over the past decade reached Rp178 trillion in cash and Rp8.16 trillion in non-cash," Finance Minister Sri Mulyani noted during a virtual working meeting with the House of Representatives’ (DPR’s) Commission XI in Jakarta in February 2021.
In total, the state capital placement had reached Rp186.47 trillion comprising Rp179.16 trillion for increasing business capacity and Rp7.30 trillion for improving capital structure, she remarked. (INE)
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EDITED BY INE
Translator: Aji Cakti/Suharto
Editor: Fardah Assegaf
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