Danantara Will Pocket Initial Capital Of At Least IDR 1,000 Trillion, Where's The Source From?

Illustration (Photo: Doc. ANTARA)

JAKARTA - The draft law (RUU) regarding the third amendment to Law Number 19 of 2003 concerning the DPR's version of State-Owned Enterprises (BUMN) stipulates that the capital of the Danantara Investment Management Agency (BPI) is worth IDR 1,000 trillion.

Then, where did these capital sources come from?

Referring to the BUMN Bill's Invetarization List (DIM), Article 3F paragraph (3) it is stated that the agency's capital is set at least Rp1,000 trillion.

"The figure is IDR 1,000 trillion, based on the capital for the consolidation of SOEs for the 2023 financial year which amounted to IDR 1,135 trillion," the regulation reads, quoted Monday, February 3.

In Article 3 it also explains in detail the origin of Danantara's capital sources.

In paragraph (1) it is stated that there are two Danantara capital sources, namely state capital participation (PMN) and/or other sources.

Then, in paragraph (2) it is explained that PMN for Danantara capital can come from cash funds, state property, and/or state-owned shares in BUMN.

Still citing the same source, Article 31 point a stipulates that Danantara's assets can come from capital participation as referred to in Article 3F paragraph (1).

Meanwhile, in point b to e, it is regulated that assets and intermediaries can come from the development of Danantara assets, the transfer of state assets or state-owned assets, grants or other legitimate sources.

Meanwhile, Article 31 paragraph (2) confirms that any party is prohibited from confiscation of Danantara's assets.

"Any party is prohibited from confiscating the assets of the Agency (Danantara)," reads article 31 paragraph (2).