Revision of P2SK Law Ratified, Here Are 15 Key Points

The House of Representatives (DPR RI) plenary session officially approved the Bill on the Amendment to Law Number 4 of 2023 concerning Financial Sector Development and Strengthening (P2SK) to be enacted into law. The decision was taken during a plenary session held at the DPR RI Building, Jakarta, on Thursday (4/6).

“We will ask once again to all members, can the P2SK Bill be approved to be passed into law?” said Deputy Speaker of the DPR RI Sufmi Dasco Ahmad, who was immediately met with a chorus of “agreed” from the legislators present.

Deputy Chairman of Commission XI DPR RI, Mohamad Hekal, explained that the Working Committee had thoroughly discussed 1,212 Problem Inventory Lists submitted by the government. These consisted of 805 items concerning the body of the law and 407 items regarding the elucidation.

Hekal outlined that there are 15 crucial points forming the substance of the amendments in this latest P2SK Law to strengthen national economic stability and progress. Mohamad Hekal expressed his hope that this P2SK Law would become a collective effort in realising a resilient national economy and maintaining balanced economic progress for the welfare of the Indonesian people.

With the ratification of these amendments, the government and financial sector authorities are expected to have stronger instruments to face future global and domestic economic dynamics.