SOEs contributed Rp3,282 trillion to state in past decade: minister

“In the past 10 years, the amount of taxes, non-tax state revenues, and dividends we contributed to the state had reached Rp3,282 trillion.”

Jakarta (ANTARA) – The state-owned firms’ contribution to the state had reached Rp3,282 trillion in the last 10 years, including through dividends, taxes, and non-tax state revenues, according to State-Owned Enterprises Minister Erick Thohir.

“In the past 10 years, the amount of taxes, non-tax state revenues, and dividends we contributed to the state had reached Rp3,282 trillion,” Thohir remarked at the central development coordination meeting 2021 in Jakarta on Thursday.

The minister acknowledged that despite the contribution being relatively small, the return on investment (ROI) to the State-Owned Enterprises Ministry was quite large.

“Of course, we will maintain it. Looking ahead, we hope it will increase, and the state will receive (more) income for its activities,” he noted.

Thohir pointed out that the COVID-19 pandemic had dealt a major blow to state-owned companies during the 2019-2020 period, and only several of them engaged in the health, insurance, food, plantation, and forestry sectors were able to withstand the impacts of the pandemic.

Meanwhile, the pandemic had affected backbone state-owned entities, including those engaged in the fields of telecommunication, financial service, oil, gas and energy, mineral and coal mining, thereby prompting the State-Owned Enterprises Ministry to tweak its strategy.

“In 2021, our survival model is to protect strategic state-owned companies battered (by the pandemic) and later change the strategy on a large-scale through transformation,” he remarked.

To this end, the ministry will bolster the supply chain, push for good corporate governance, develop competitive talent, and ensure an adapted business model, he stated.

Thohir remarked that 2022 will be the era of restructuring and realignment of state-owned companies that are expected to return to normal through innovation and transformation efforts.

 

Source: ANTARA News

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