Prabowo says Indonesia saved $2.8 billion by closing 290 SOEs

Jakarta (ANTARA) - President Prabowo Subianto said on Monday that the government had shut down 290 state-owned enterprises (SOEs) and saved Rp50 trillion (US$2.8 billion) in operating costs from underperforming companies.

“In less than two years under the government I lead, we have shut down 290 SOEs that were unprofitable, underperforming, and making losses,” Prabowo said in remarks at the closing of the 35th Nahdlatul Ulama (NU) Congress in Jombang, East Java.

Prabowo said the government would continue its efficiency drive by shutting down more SOEs by the end of 2026, leaving between 200 and 250 companies. He said reducing the number of SOEs was expected to improve efficiency while cutting the companies’ routine expenses.

“This means I hope we can save Rp100 trillion in overhead costs, including routine expenses, directors’ salaries, and commissioners’ salaries,” Prabowo said.

The government has also identified savings across various sectors amounting to nearly Rp300 trillion annually, Prabowo said, adding that the funds would be redirected to programs benefiting the public.

“This is the money that we will redirect and channel as much as possible to the people,” he said.

Related news: SOE profits to fund industrial downstreaming acceleration: Prabowo

Translator: Aditya Ramadhan, Kuntum Khaira
Editor: M Razi Rahman
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