Purbaya: KCIC takeover process awaits administrative completion

Finance Minister Purbaya Yudhi Sadewa has stated that the government’s takeover of PT Kereta Cepat Indonesia China (KCIC) has been decided and is now only awaiting the completion of administrative processes. He said the decision regarding the transfer of KCIC’s management has essentially been taken. Currently, the government is merely finalising the administrative stages before the process can be realised. “This is in the administrative process. It has been decided, actually it has been decided, just the administrative process is ongoing. Once our Danantara is clear, it will be finished. Later we will report back to the President,” Purbaya said at the Presidential Palace Complex in Jakarta on Wednesday. Purbaya conveyed that KCIC will later be handed over from the Daya Anagata Nusantara Investment Management Agency (Danantara) to him, in accordance with the directive of President Prabowo Subianto. Furthermore, Purbaya stressed that resolving the KCIC matter does not necessarily require the use of the State Revenue and Expenditure Budget (APBN). According to him, the government has prepared alternative financing schemes through various instruments at its disposal. “The KCIC is currently still under Danantara, later it will be handed over to me because the President’s order is for us to sort it out. But the APBN does not have to be used, I have a certain scheme where there are tools, vehicles we have outside the existing ones that can handle KCIC,” he explained. However, Purbaya could not yet provide more detailed information as the KCIC handover process has not been completed. He also denied the possibility that KCIC would be managed as a Public Service Agency (BLU). “Who said KCIC will become a BLU? There is no such thing. The point is, it is given to me, and I will sort it out,” he concluded.