Prabowo says Indonesia saved $2.8 billion by closing 290 SOEs

“In less than two years under the government I lead, we have shut down 290 SOEs that were unprofitable, underperforming, and making losses,” Prabowo said in remarks at the closing of the 35th Nahdlatul Ulama (NU) Congress in Jombang, East Java.

Prabowo said the government would continue its efficiency drive by shutting down more SOEs by the end of 2026, leaving between 200 and 250 companies. He said reducing the number of SOEs was expected to improve efficiency while cutting the companies’ routine expenses.

“This means I hope we can save Rp100 trillion in overhead costs, including routine expenses, directors’ salaries, and commissioners’ salaries,” Prabowo said.

The government has also identified savings across various sectors amounting to nearly Rp300 trillion annually, Prabowo said, adding that the funds would be redirected to programs benefiting the public.

“This is the money that we will redirect and channel as much as possible to the people,” he said.

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Translator: Aditya Ramadhan, Kuntum Khaira