Dony Oskaria Targets Rp450 Trillion Profit for Indonesia's State-Owned Enterprises by 2029

Yogyakarta, CNBC Indonesia – Dony Oskaria, head of the State-Owned Enterprises Regulation Agency and Chief Operating Officer of the Daya Anagata Nusantara Investment Management Agency, highlighted questions about the profitability of Indonesia’s state-owned enterprises. He spoke during the Jogja Financial Festival at the Jogja Expo Center in the Special Region of Yogyakarta on Saturday, 23 May 2026. Dony emphasised that BUMN contribute about one third of the Republic of Indonesia’s state budget (APBN), both through dividends and taxes.

In 2025, BUMN profits reached Rp335 trillion and tax payments Rp215 trillion.

‘So our BUMN (RI) is very powerful… It is not true that many read that BUMN never make a profit. That’s incorrect,’ he said.

This year, he estimated profits could reach Rp360 trillion, and in the next three years, profits could reach Rp450 trillion.

‘This year we hope to achieve Rp360 trillion in profits. I personally have at least the hope that by the time I retire from BUMN (2029) that it could be at least Rp450 trillion,’ he said.

During the event, according to Dony, BUMN management used to be sectoral and separate before the creation of BPI Danantara. He said that this is not widely known.

‘In fact, the ministry of BUMN does not own BUMN; the ministry merely has the authority to manage,’ he said.

‘Tetapi kemudian akibat daripada pengelolaan yang tidak terintegrasi satu sama lain. Itu kemudian banyak BUMN-BUMN kita menghadapi permasalahan tidak bisa dibantu, tidak bisa diselamatkan,’ he continued.

The former Deputy Minister of BUMN then revealed many BUMN well known to the public. But one by one they face various problems.

‘Mungkin kita mengenal dulu banyak BUMN-BUMN terkenal. Kalau di Bandung itu ada PT INTI yang sangat terkenal, sekarang menghadapi persoalan mungkin akan kita tutup juga. Kemudian ada Jakarta Lloyd yang dulu kita mengenal sangat besar. Krakatau Steel dan lain sebagainya,’ said Dony.

‘Tetapi karena tidak ada mekanisme untuk membantu satu BUMN dengan BUMN lain, menyebabkan sulit untuk kita melakukan perbaikan. Karena labanya Pak Hery (Direktur Utama BRI Hery Gunardi) di BRI, labanya Pak Anggoro (Direktur Utama BSI Anggoro Eko), Pak Nixon (Direktur Utama BTN) tidak bisa dipergunakan untuk membantu perusahaan yang lainnya,’ tegasnya.

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