On PNM, Purbaya: Danantara Boss Apparently Agrees, But Lower Levels Unknown

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has stated that the process of taking over PT Permodalan Nasional Madani (PNM) from BPI Danantara is still in the discussion stage. As known, Purbaya wishes to position PNM as a Special Mission Vehicle (SMV) under the Ministry of Finance (Kemenkeu).

He revealed that Danantara’s leadership has approved the acquisition plan for the company. Nevertheless, there have been no further steps from the relevant parties.

“This is still being discussed. Over there (at Danantara), at the top they say it’s already approved. At the lower levels, I don’t know. Not yet. It seems like bureaucracy at SOEs, right? It’s slow. Yes, yes, but no,” said Purbaya at his office in Jakarta on Wednesday (25/3/2026).

Although there is still no certainty on the continuation, Purbaya claims he will continue to process the acquisition of the company under PT Bank Rakyat Indonesia Tbk (BRI).

This is because PT PNM will be used as the main channel for Kredit Usaha Rakyat (KUR). Thus, the government will have greater authority over the management of the credit distributor.

“Later, KUR will go through there. Rather than me getting a headache checking how other banks work. If it’s under me, I can fire them. If they don’t perform, we fire them directly,” he said.

Previously, Purbaya stated that he had reported the acquisition plan for PT PNM to President Prabowo Subianto.

“I’ve already reported to the president: Sir, there’s this plan (to take over) if allowed,” he said when met by reporters at Kemenkeu. According to Purbaya, the president replied: “He said, just calculate it; if it’s good, why not.”

However, according to him, there is no final decision yet. Purbaya is continuously discussing with Danantara CEO Rosan Roeslani.

“We are continuously discussing with Mr Rosan on the best steps for the state in distributing KUR and for MSME credit,” he said.