Optimising State Receivables Resolution, Purbaya Issues New Regulation on Debtor Asset Takeover

Jakarta – Finance Minister Purbaya Yudhi Sadewa has issued Ministerial Regulation (PMK) No. 23 of 2026, amending PMK No. 240 of 2016 on the Management of State Receivables.

The regulation, which came into effect upon its promulgation on 24 April 2026, revises the rules on managing state receivables, namely debts owed to the state based on any law, agreement, or other cause.

In the considerations section of the regulation, it is explained that this revision aims to optimise the resolution of state receivables.

“To enhance the optimisation of state receivables resolution in line with developments in receivables management, it is necessary to amend PMK No. 240 of 2016 on the Management of State Receivables,” as quoted from PMK No. 23/2026 on Monday, 27 April 2026.

Under PMK No. 23/2026, Article 186A paragraph (b) states that collateral goods or other assets belonging to the debt guarantor that have been seized by the state may be directly controlled and used by the government through the State Receivables Committee (PUPN) branch without needing approval from the debt guarantor. Consequently, seized assets no longer need to be sold through auctions.

“Utilisation by the PUPN branch without the approval of the Debt Guarantor and the proceeds used to reduce the Debt Guarantor’s debt,” states the article.

Meanwhile, Article 186B outlines several conditions for the physical control and use by the state of collateral goods/other assets belonging to the debt guarantor that have been seized by the state.

First, the Seizure Order (SPP) and seizure report must have been issued; Second, the ministry/institution (K/L) as the applicant submits a written request to the Receivables Transferor; Third, the physical control and use by the state is carried out after the issuance of the decision by the head of the PUPN branch.

The K/L is also required to provide an analysis study explaining that the physical control and use of the asset will be used for government administration and/or for implementing development for the public interest in the written request; as well as willingness to accept the asset in its physical condition and/or documents as is, and to bear all outstanding costs.

Once all conditions are met, the head of the PUPN branch issues a decision on physical control and use by the state within a maximum of 10 working days after the date of notification of the takeover and utilisation efforts to the debt guarantor.