Prabowo Reveals Closure of 240 State-Owned Enterprises: No Profit, Constant Losses!

President Prabowo Subianto has revealed that the government has shut down 240 state-owned enterprises (BUMN). The closures were implemented because the hundreds of BUMN were not profitable and instead continued to incur losses.

This was conveyed by Prabowo during the closing ceremony of the Nahdlatul Ulama (NU) National Conference and Grand Conference in Bangkalan, East Java, on Tuesday, 23 June 2026.

Initially, Prabowo recounted that when he first took office as President, he was shocked to learn that the number of BUMN reached into the thousands. Previously, he had thought the number was only in the hundreds.

‘When I became president, I didn’t know yet. I thought the number of BUMN companies was 300. When I became president, I only just found out. The number is over a thousand,’ Prabowo said in his speech.

Prabowo then disclosed that the government has closed 240 BUMN out of the total of over a thousand. One of the reasons is that these BUMN continued to suffer losses.

‘Now we have closed approximately… How many, State Secretary Minister? Approximately? We have closed 240. None of them were profitable, they kept losing money,’ he explained.

He stated that the number of BUMN to be cut will continue to grow. Prabowo is targeting at least a minimum of 700 state-owned companies to be trimmed.

‘If I am not mistaken, we will eventually close approximately 800 state companies, at least 700,’ Prabowo revealed.

With these cuts, Prabowo said the state will save trillions of rupiah. This is based on calculations of the salaries of directors and commissioners of the BUMN.

‘If you calculate, for example, four directors and four commissioners, that’s eight times two hundred. 1,600. If their salary is Rp50 million per month each, how much is that? And some have salaries that can be above that. Already losing money, they still ask for bonuses,’ he said.

‘Ladies and gentlemen, we have closed them. We are saving trillions, just from closing companies that are not right. And the way these directors operate is to cover up their corruption,’ Prabowo concluded.