KBRN, Jakarta: Deputy Speaker of the Indonesian House of Representatives (DPR RI), Sufmi Dasco Ahmad, officially ratified the Fourth Amendment to Law No. 19/2003 on State-Owned Enterprises (SOEs). The newly passed legislation transitions oversight of SOEs from a ministerial framework to a newly established regulatory body, the SOE Regulatory Agency (BP BUMN).

“Can the Bill on the Fourth Amendment to Law No. 19/2003 on State-Owned Enterprises be approved and enacted into law?” Dasco asked during the DPR’s Sixth Plenary Session at the parliament complex in Jakarta on Thursday, October 2, 2025.

Dasco expressed appreciation for the inter-ministerial collaboration that contributed to the drafting of the bill and extended his gratitude to the leadership and members of the House Commission VI for their smooth and timely deliberations.

Echoing the legislative momentum, Minister for Administrative and Bureaucratic Reform (PANRB), Rini Widyantini, speaking on behalf of the President, affirmed the government’s full support for the bill’s enactment.

“With this strengthened legal framework, SOEs are expected to play a more strategic role as agents of national development,” Minister Rini stated.

She emphasized the government’s ambition for SOEs to evolve into healthy, competitive, and globally resilient business entities. According to Minister Rini, the amendment responds to the need to clarify the regulatory and operational functions of SOEs, enhance governance, and ensure legal certainty.

The revision also aims to position SOEs as drivers of development and agents of inclusive and sustainable economic transformation. The bill stipulates a maximum two-year transition period for ministers and deputy ministers currently holding concurrent positions within SOE boards.

Additionally, SOE employees will be eligible to serve as directors, commissioners, or in managerial roles, with a strong emphasis on gender equality. Minister Rini noted that tax regulations concerning transactions involving Danantara Indonesia, investment holdings, SOE entities, and third parties will be governed by government regulations.

She also reaffirmed that the Supreme Audit Agency (BPK) retains full authority to audit SOEs in accordance with existing laws. Furthermore, employees of the Ministry of SOEs will be formally reclassified as personnel under BP BUMN.

“Institutional transformation, clarification of organizational roles, dividend and tax arrangements, and the authority of BP BUMN are all part of efforts to establish clear governance between regulators and operators,” she added.

Meanwhile, Speaker of House Commission VI, Anggia Ermarini, underscored the role of SOEs as extensions of the state in managing national resources and potential. She stressed that the legal revision is crucial not only for profitability but also for ensuring transparency and accountability.

Anggia expressed hope that SOEs will contribute significantly to key government priorities such as food and energy security, downstream industrialization, and national strategic projects. “This will ultimately impact economic growth and public welfare,” she said.

During the plenary session, Anggia outlined the key provisions of the SOE Bill, designed to strengthen governance and clarify institutional roles:

- Establishment of BP BUMN as the regulatory body overseeing SOE-related government functions.

- Affirmation of the state’s 1 percent dual-class Series A shareholding in BP BUMN.

- Structuring of investment holding and operational holding compositions under BPI Danantara.

- Prohibition of dual roles for ministers and deputy ministers in SOE boards, in line with Constitutional Court Decision No. 228/PUU-XXIII/2025.

- Removal of provisions stating that SOE board members are not considered state officials.

- Professional management of commissioner positions within investment and operational holdings.

- Reinforcement of BPK’s audit authority to enhance financial transparency and accountability.

- Expansion of BP BUMN’s powers to optimize SOE performance.

- Affirmation of gender equality in appointments to SOE leadership and managerial roles.

- Tax treatment of transactions involving SOEs, holdings, and third parties to be regulated by government decree.

- Exemption of SOEs designated as fiscal instruments from BP BUMN control.

- Mechanisms for transferring personnel status from the Ministry of SOEs to BP BUMN, along with other substantive provisions.

(Naura Sofia/Sri Wahyuni)