Prabowo: 250 State-Owned Enterprises Closed by 31 July, Saving Rp50 Trillion

President Prabowo Subianto, during a briefing at a plenary cabinet session at the State Palace in Jakarta on Monday, stated that the state funds saved after closing, merging, and consolidating 250 state-owned enterprises (BUMN) by 31 July 2026 had reached Rp50 trillion. Prabowo explained that these savings represent routine overhead costs that could be avoided because the state no longer needs to pay directors, commissioners, building rent, electricity, and other expenses for those 250 BUMNs. “When I became President, I was given a report that the number of BUMNs was 1,077, and this needs to be checked again. There are BUMNs that create subsidiaries, then they create sub-subsidiaries, and then great-grandchildren companies. I am grateful and proud that the Danantara leadership, in the first year, the first 18 months, has succeeded in reducing that number. From 1,077, by the end of this month, 31 July, they have closed, consolidated, and merged, so that from 1,077, 250 BUMNs have been reduced,” said President Prabowo in his briefing. “They reported that with the closure of 250 BUMNs, the overhead, the routine costs that could be saved, is Rp50 trillion. Rp50 trillion, directors’ salaries, commissioners’ salaries, building rent, electricity bills, transport costs, meeting costs, Rp50 trillion,” the President continued. On that occasion, President Prabowo then set a target that by the end of 2026, the number of remaining BUMNs would be a maximum of 350, down from the original 1,077. “They have agreed to this,” said Prabowo. If this streamlining is realised, the President is confident that the money saved could approach Rp70 trillion to Rp80 trillion. Therefore, the President believes that Danantara is one of the achievements of his administration. “One of our achievements that will be remembered by history, I believe, is that for the first time in the history of the Indonesian nation, we have succeeded in building a sovereign wealth fund, which we call Danantara. Danantara stands for Daya Anagata Nusantara. Daya means energy, Anagata means future, Nusantara is our homeland. So, Danantara is a sovereign wealth fund, where the nation’s savings and asset wealth are united, consolidated, and managed neatly, and this becomes a reserve, this becomes energy for Indonesia’s future, for our children, grandchildren, and great-grandchildren,” said President Prabowo.