Purbaya: KCIC takeover process awaits administrative completion

Jakarta (ANTARA) - Finance Minister Purbaya Yudhi Sadewa said the takeover of PT Kereta Cepat Indonesia China (KCIC) by the government has been decided and only awaits completion of the administrative process.

He said the decision regarding the transfer of KCIC’s management has essentially been taken. The government is currently merely completing the administrative stages before the process can be realised.

“This is going through its administrative process. It has actually been decided, and only the administrative process is still running. Once the Danantara side is cleared, it’s done. Then we will report again to the President,” said Purbaya at the Presidential Palace complex in Jakarta on Wednesday.

Purbaya said KCIC will later be handed over from the Daya Anagata Nusantara Investment Management Agency (Danantara) to himself, in line with President Prabowo Subianto’s instructions.

Furthermore, Purbaya stressed that resolving KCIC does not necessarily require the State Budget (APBN). According to him, the government has prepared alternative financing schemes through various instruments at its disposal.

“KCIC is currently still with Danantara, and later it will be handed over to me because the President ordered us to sort it out. But it doesn’t have to be funded through the APBN — I have certain schemes where there are tools and vehicles outside of it that can now handle KCIC,” he explained.

Nevertheless, Purbaya could not provide more detailed information as the transfer process of KCIC has not yet been completed.

He also denied the possibility that KCIC would be managed as a Public Service Agency (BLU).

“Who says KCIC will become a BLU? There is no such thing. The point is, it will be given to me and I will sort it out,” he concluded.