Amendment to P2SK Law to Be Completed by June

Jakarta, CNBC Indonesia – Amendment to the Development and Strengthening of the Financial Sector Law (UU P2SK) is set to be completed soon, with hopes of implementation next month.

House of Representatives Commission XI Chairman Mukhamad Misbakhun stated the committee aims to finalise the amendment by next month. He noted harmonisation has commenced at government level, with regulations synchronised with the government’s draft bill (DIM).

‘We hope to finalise it by early June. Harmonisation has already begun at government level, with several regulations synchronised with the DIM,’ Misbakhun said after the National Conference on Regional Economic Development at Balai Kartini in South Jakarta on Monday (25 May 2026).

House of Representatives will discuss the P2SK bill amendment in early June to conclude the process, as this week includes the Eid al-Adha holiday and public holiday.

Misbakhun added that after the P2SK amendment is completed, revisions to the State Finance Law will follow, currently codified under Act No. 17 of 2003.

He explained the revision is necessary due to changes in state-owned enterprise mechanisms following the establishment of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara). Consequently, the Finance Minister no longer holds the mandate as shareholder of state-owned enterprises (SOEs). If the State Finance Law is not revised, current legislation would still designate the Finance Minister as the SOE shareholder.

‘We will finalise synchronising these laws under an omnibus act, including the State Finance Law, State Treasury Law, State Assets Law, and the Law on Non-Tax State Revenue. Previously, SOE dividends were classified as Non-Tax State Revenue and part of the State Budget cycle,’ he said.

Misbakhun explained the State Finance Law will apply to the 2027 State Budget, necessitating prompt completion before its 1 January 2027 implementation. ‘As the State Budget takes effect from 1 January 2027, and we are currently discussing it in KEM-PPKF,’ Misbakhun added.