President Jokowi injects IDR 3.3 trillion to Pertamina as additional capital

Published on 06/10/2023 at 11:29 GMT+7 Reading time

President Jokowi has decided to allocate IDR 3.3 trillion to PT Pertamina (Persero) as additional capital. This injection of additional capital is stipulated in Government Regulation No. 48 of 2023 concerning the augmentation of the Republic of Indonesia's State Equity Participation in PT Pertamina's Share Capital (GR 48/2023).

The Regulation stated that the government is conducting State Capital Injection (PMN) to PT Pertamina (Persero) in the form of the transfer of state-owned assets (BMN) from the Ministry of Energy and Mineral Resources, valued at IDR 3.37 trillion.

One of the assets include a gas distribution network serving households, valued at IDR 1.5 trillion, located in various cities like Palembang, Surabaya, Bekasi, Depok, Sidoarjo, Tarakan, Sengkang, Cirebon, low-cost housing in the Jakarta metropolitan area, Jambi, Subang, and others.

Other transferred assets comprised of fuel gas stations (SPBG) and their accompanying infrastructure, valued at IDR 1.8 trillion. One such asset is the SPBG in Lebak Bulus, South Jakarta.

According to Jokowi, the consideration that underlines this regulation is that this supplementary capital is provided for Pertamina to refine its financial structure and bolster the company's operational capacity.

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Joko Widodo
Pertamina

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