Purbaya: Danantara to Advise KSSK Without Voting Rights

Jakarta (ANTARA) — Finance Minister Purbaya Yudhi Sadewa said the involvement of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) in meetings of the Financial System Stability Committee (KSSK) is purely as an adviser without voting rights.

“Under the law, (KSSK meetings) may be attended by institutions and other parties who are invited. So the KSSK may invite parties from outside the committee. However, when it comes to decisions, Danantara will not have voting rights,” Purbaya told reporters in Jakarta on Tuesday.

According to the Finance Minister, Danantara’s debut participation in a KSSK meeting provided positive insight for more precisely targeted national policy going forward.

Danantara was invited to take part in the KSSK meeting in order to offer the perspective of a party managing large-scale businesses.

“For us, the information is extremely useful for seeing the actual conditions in the business world, the world that Danantara is managing. We are ordinary regulators looking at data from behind, and sometimes our interpretation of the data can be slightly off. So Danantara enriches us with additional information,” Purbaya explained.

The Finance Minister assured that decision-making in KSSK meetings remains limited to the core members, namely the Ministry of Finance, Bank Indonesia (BI), the Financial Services Authority (OJK), and the Deposit Insurance Corporation (LPS).

“Going forward, we will not include them (Danantara) as a decision-maker either. But they are allowed to provide input. So it enriches the information when the KSSK Chair, BI, OJK, and LPS make decisions,” he said.

Previously, Danantara Chief Executive Officer (CEO) Rosan Roeslani said President Prabowo had directed that Danantara be involved in every KSSK decision, so that the resulting policies consider not only fiscal and monetary aspects but also their impact on the business world and the economy as a whole.

“Later, the KSSK will also be asked to involve Danantara in each of its decisions, so that they have a direct impact on the economy and business, not only from the fiscal and monetary side,” Rosan said.

He said that, in line with President Prabowo’s instruction, Danantara would attend KSSK meetings on a routine basis.