Fadli Zon Flies BUMN Debt The Jokowi Era Increases Multiply
BuletinDigital. Deputy Speaker of the House of Representatives Fadli Zon highlighted the BUMN debts that have occurred in the past three years. The debt he gave to PT Inalum was highlighted.
In the process of divesting PT Freeport Indonesia shares some time ago, Inalum has collected debt through global bond issuance of US $ 4 billion. According to Fadli, the debt is quite risky for the BUMN.
"Inalum is estimated to have to pay a coupon fee of Rp1.7 trillion every year," he said as quoted from his Twitter account on Friday.
Not only Inalum, he also gave the spotlight on the debts collected by other BUMNs. In his note, in the period of 2016 to 2018 the number of SOE debts rose 132.92 percent from Rp 2,263 trillion to Rp 5,271 trillion, up by Rp. 3,008 trillion.
The debt was contributed by the state-owned electricity sector which contributed Rp543 trillion, oil and gas Rp.522 trillion, property and construction Rp317 trillion, telecommunications Rp99 trillion, transportation 75 trillion and other state-owned enterprises which contributed Rp403 trillion in debt. The increase in the amount of debt is far compared to the 2012 period.
At that time, BUMN debts only increased by IDR824 trillion. "That's a huge amount," he said.
Even so, said Fadli, the increase in the amount of debt is precisely inversely proportional to the performance of state-owned companies. According to Fadli, even though BUMN debts have risen sharply in the last three years, BUMN revenues have only increased by IDR 326 trillion.
One of the small increases in state-owned enterprises' revenues was triggered by the financial performance of a number of red and red companies. One of the red performances that he highlighted, PLN.
"As of the third quarter of 2018, PLN has suffered losses of up to Rp. 18.48 trillion. Even though in the same period of 2017, PLN still pocketed a net profit of Rp. 05 trillion," he said.
Fadli estimates that the poor financial performance of these BUMNs was due to the assignments given by the President Jokowi's government to SOEs in building infrastructure. The assignment he called only burdened the BUMN finance.
Finance Minister Sri Mulyani said some time ago that to criticize BUMN debts, the public needed to thoroughly look at the state-owned company's balance sheet. "So far, people have only reported their debt, even though the balance sheet should have seen the equity, leverage, and capital. So if you see, which BUMN has a lot of debt, but the equity is sufficient," said Ani.
Ani said the government would also not be reckless with BUMN debts. He said the Ministry of Finance and the Ministry of BUMN always monitored the progress of the financial performance of each state-owned company from various indicators.
Meanwhile the Deputy of the Ministry of BUMN's Restructuring and Business Development Aloysius Kiik Ro said that despite rising sharply, BUMN debts were still at a safe level. "It can be concluded that it is safe and relatively shows the ability to pay long-term and short-term debt," he said.
In the process of divesting PT Freeport Indonesia shares some time ago, Inalum has collected debt through global bond issuance of US $ 4 billion. According to Fadli, the debt is quite risky for the BUMN.
"Inalum is estimated to have to pay a coupon fee of Rp1.7 trillion every year," he said as quoted from his Twitter account on Friday.
Not only Inalum, he also gave the spotlight on the debts collected by other BUMNs. In his note, in the period of 2016 to 2018 the number of SOE debts rose 132.92 percent from Rp 2,263 trillion to Rp 5,271 trillion, up by Rp. 3,008 trillion.
The debt was contributed by the state-owned electricity sector which contributed Rp543 trillion, oil and gas Rp.522 trillion, property and construction Rp317 trillion, telecommunications Rp99 trillion, transportation 75 trillion and other state-owned enterprises which contributed Rp403 trillion in debt. The increase in the amount of debt is far compared to the 2012 period.
At that time, BUMN debts only increased by IDR824 trillion. "That's a huge amount," he said.
Even so, said Fadli, the increase in the amount of debt is precisely inversely proportional to the performance of state-owned companies. According to Fadli, even though BUMN debts have risen sharply in the last three years, BUMN revenues have only increased by IDR 326 trillion.
One of the small increases in state-owned enterprises' revenues was triggered by the financial performance of a number of red and red companies. One of the red performances that he highlighted, PLN.
"As of the third quarter of 2018, PLN has suffered losses of up to Rp. 18.48 trillion. Even though in the same period of 2017, PLN still pocketed a net profit of Rp. 05 trillion," he said.
Fadli estimates that the poor financial performance of these BUMNs was due to the assignments given by the President Jokowi's government to SOEs in building infrastructure. The assignment he called only burdened the BUMN finance.
Finance Minister Sri Mulyani said some time ago that to criticize BUMN debts, the public needed to thoroughly look at the state-owned company's balance sheet. "So far, people have only reported their debt, even though the balance sheet should have seen the equity, leverage, and capital. So if you see, which BUMN has a lot of debt, but the equity is sufficient," said Ani.
Ani said the government would also not be reckless with BUMN debts. He said the Ministry of Finance and the Ministry of BUMN always monitored the progress of the financial performance of each state-owned company from various indicators.
Meanwhile the Deputy of the Ministry of BUMN's Restructuring and Business Development Aloysius Kiik Ro said that despite rising sharply, BUMN debts were still at a safe level. "It can be concluded that it is safe and relatively shows the ability to pay long-term and short-term debt," he said.
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