Purbaya Ready to Provide Incentives for the Capital Market If...
The government is opening opportunities to provide incentives for the capital market industry, but not without conditions. Finance Minister Purbaya Yudhi Sadewa emphasised that stimulus will be considered if the market’s performance shows tangible improvement.
This consideration responds to the Financial Services Authority’s (OJK) efforts to deepen the capital market by launching the Planned and Periodic Investment (PINTAR) Mutual Fund Programme. Purbaya promised to provide incentives if this programme succeeds in improving the performance of Indonesia’s capital market over the next six months.
“If the programme runs well, for example, in six months’ time, you can come to me and ask for incentives. I will consider it,” Purbaya stated, as quoted from Antara on Tuesday, 28 April 2026.
Regarding the form of incentives, Purbaya opened the possibility of tax relaxations, including the potential elimination of tax on capital gains obtained by investment managers. However, the state treasurer has not yet confirmed a final decision.
“For example, if there is a capital gain, a profit, it could be that the capital gain is not taxed,” he added.
He views the PINTAR Mutual Fund Programme as a strategic step to deepen the capital market while expanding the domestic investor base. This scheme allows the public to pool funds periodically, which are then managed by investment managers into various capital market instruments with a more measured approach.
According to him, if this programme succeeds, its impact will not only be felt in the financial sector. The effects could drive broader economic growth.
“I am interested in the financial sector. Money from there can be used to buy bonds and so on. That will ultimately drive the economy. Perhaps I lose a little rupiah, but in the end, there is additional money that can move the economy,” Purbaya remarked.
The government will continue to monitor the development of the PINTAR programme implementation over the next few months before determining the appropriate incentive policy. On the other hand, OJK emphasised that the launch of the PINTAR Mutual Fund Programme is part of the broader strategy for capital market reform. OJK Commissioner Chairman Friderica Wisyasari Dewi stated that this programme aligns with the eight action plans for reforming the integrity of Indonesia’s capital market. The focus on strengthening integrity not only concerns governance quality but is also supported by expanding public participation as investors in the capital market.