Prabowo Highlights State-Owned Enterprises' Turnaround to Profitability

President Prabowo Subianto revealed that a number of State-Owned Enterprises (BUMN) have successfully turned their financial performance around from losses to profits, marking this as an accomplishment of his administration. Prabowo further stated that the average profit growth of these BUMN has surpassed double digits. He cited PT Pupuk Indonesia (Persero) as an example, noting that the company, which had historically incurred losses, has now seen its profits surge by 252%. In addition to Pupuk Indonesia, Prabowo mentioned that PT Perkebunan Nusantara (Persero) has achieved a profit growth of 54%. PT Pertamina (Persero), the national oil and gas giant, also reported an 86% increase in its profits. Moreover, PT Pegadaian, a state-owned pawnshop, recorded a profit increase of 84%, and PT Semen Indonesia (Persero) Tbk, a major cement producer, saw its profits soar by an impressive 400%. President Prabowo also highlighted the role of the Investment Management Agency (BPI) Danantara, stating that its establishment has led to an increase in Indonesia's national wealth. He explained that Danantara has centralized and consolidated the nation's assets, resulting in a 400% revenue increase within its first eighteen months of operation. The president's remarks underscore a significant shift in the financial health of key state-owned entities, signaling potential positive impacts on the broader Indonesian economy.