Purbaya Seeks to Take Over PNM: Danantara CEO's Response
CEO of Danantara Indonesia and Minister of Investment and Downstreaming/Head of BKPM Rosan Roeslani declined to respond to Finance Minister Purbaya Yudhi Sadewa’s plan to take over the management of PT Permodalan Nasional Madani (PNM). Rosan invited the matter to be asked directly to Purbaya.
“Perhaps just ask the Ministry of Finance,” said Rosan after the press conference on First Quarter 2026 Investment Realisation and Implementation of KBLI 2025 at the Ministry of Investment and Downstreaming/BKPM Office, Jakarta, on Thursday (23/4/2026).
Rosan was reluctant to reveal PNM’s future plans. The Minister of Investment and Downstreaming/Head of BKPM stated that there has been no change in PNM’s current operational processes. “We are proceeding as usual,” Rosan said briefly.
Previously, Purbaya wanted the Ministry of Finance to take over the management of that subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk (BRI). Purbaya plans to make PNM a subsidiary of one of the Ministry of Finance’s special mission vehicles (SMVs), such as PT Sarana Multi Infrastruktur (SMI) or the Government Investment Centre (PIP).
“I am proposing to Danantara to hand over PNM to us (Ministry of Finance). PNM Madani will be handed over to us, and then we will make it a distributor of KUR (People’s Business Credit),” said Purbaya Yudhi Sadewa in Jakarta on Monday (6/4/2026).
Purbaya revealed that the PNM acquisition plan was submitted as one solution to facilitate KUR distribution. Purbaya stated that there are many reports from MSME actors who have difficulty obtaining the cheap credit service and highlighted the need for considerable costs in KUR distribution through banking.
“If KUR is distributed through banks, we pay interest up to 18 percent. The money disappears because it is used to pay interest, around Rp 40 trillion every year,” said Purbaya.
If KUR is distributed through PNM as a subsidiary of one of the Ministry of Finance’s SMVs, the Rp 40 trillion funds could be used as capital to transform the SOE into an MSME bank. Purbaya hopes to make PNM a large bank with Rp 200 trillion in capital within five years.
“So, the budget we spend does not increase, still Rp 40 trillion every year, but those funds are lent out as revolving funds with low interest. So, the Rp 40 trillion does not disappear,” said Purbaya.