Jakarta, The Indonesia Post – Minister of State-Owned Enterprises (BUMN) Erick Thohir emphasized that SOEs must balance the market by intervening when market conditions are not balanced.
According to him, efforts to maintain balance are part of the transformation of SOEs by eroding gaps and improving balance so that the economy can move forward.
“It is impossible for our economy to grow if it is not harmonious and there is no balance, that is the intervention function of SOEs,” Erick said in a statement in Jakarta, Friday.
He admitted that he had set two priority focuses in achieving balance through funding and mentoring. For this reason, Erick also mapped the focus of each state-owned bank so that they no longer compete with each other for the large corporate financing sector and forget about MSMEs.
“When I came to BRI/Bank of the Republic of Indonesia (as Minister of BUMN) 80 percent of large corporate loans could not. BRI must focus on knitting MSMEs. We will combine BRI, PNM, Pegadaian,” said Erick.
“BRI’s rights issue of Rp. 96 trillion is the largest in Southeast Asia, number two in Asia, and number seven in the world. This means that it does not only use government capital but through corporate actions that are trusted by the market,” he added.
He further said that the focus of the business model will be able to strengthen the performance of SOEs which will ultimately have a good impact on the national economic ecosystem.
“BUMN must also be balanced, the corporation must profit so that it can intervene. If SOEs are not healthy and lose, how can they encourage and intervene. Alhamdulillah, with the transformation we can boost the net profit of SOEs on a consolidated basis from IDR 13 trillion in 2020 to IDR 126 trillion in 2021,” concluded Eric. (mhn/bbs)
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