Business World Responds to Danantara's Inclusion in KSSK

The Indonesian Employers’ Association (Apindo) has responded to the plan to involve the Daya Anggata Nusantara Investment Management Agency (BPI Danantara) in supporting the work of the Financial System Stability Committee (KSSK).

Apindo’s Economic Policy Analysis Committee Chair, Aviliani, assessed that Danantara’s position in the KSSK could be considered on par with state-owned enterprises or the private sector. “Perhaps the reason Danantara is being included is because Danantara will issue quite large bonds. These large bonds will also affect the financial system,” Aviliani said.

However, she believes that the party that should be involved in the KSSK is the relevant ministry, such as the Coordinating Ministry for Economic Affairs, because it is closely related to economic policymaking. “In my opinion, the Coordinating Ministry for Economic Affairs should be included. Minister Airlangga must be involved, because the real sectors are under the ministry,” she said. “So, there is alignment between what needs to be financed and whether the real sector is ready or not. It is not just the demand for intermediation to increase, but the real sector is not ready,” she added.

Previously, Danantara CEO Rosan Roeslani stated that President Prabowo had directed that Danantara be involved in every KSSK decision-making process, so that the resulting policies would not only consider fiscal and monetary aspects but also the impact on the business world and the overall economy. “The KSSK will be asked to involve Danantara in every decision-making process, so that it has a direct impact on the economy and business, not just from the fiscal and monetary side,” Rosan said on Monday (27/7).

Meanwhile, Finance Minister Purbaya Yudhi Sadewa confirmed that Danantara’s role in KSSK meetings would be as an advisor without voting rights. “Under the law, meetings can be attended by other invited institutions and parties. So, the KSSK can invite parties outside the KSSK. However, in terms of decisions, Danantara will not have voting rights,” Purbaya said. According to the Finance Minister, Danantara’s initial participation in the KSSK meeting provided positive insights for more targeted national policies in the future. Danantara was invited to participate in the KSSK meeting to provide perspective from the side of an entity managing large businesses.