Three Main Issues For BUMN Holding Mining
By : Herry Barus And Aldo Bella Putra | Friday, November 17 2017 - 15:00 IWST

Ilustrasi Tambang Batu Bara PT Bukit Asam Tbk
INDUSTRY.co.id -
Jakarta - Natural Resources Law Observer from Tarumanegara University, Ahmad Redi, argues that the establishment of mining BUMN has the potential to create at least three crucial issues.
First, with the deletion of state-owned companies in the three state-owned enterprises, the government's intervention and the House of Representatives (DPR)'s oversight efforts will be reduced where this provision itself has been contained in Law Number 19 Year 2003 on BUMN.
"Although the government claims that the state still has a role in monitoring, it is clear that these efforts will not be directly or in stages, because the share ownership of Antam, Timah and Bukit Asam will be under Inalum because their company's status has been removed," Redi to media aswak in Jakarta, Thursday (16/11/2017)
Secondly, Redi explained that the problem which also potentially appeared in the formation of mining BUMN is the entry of a number of interests along with the change of the status of the three state-owned enterprises.
With no longer a state-owned enterprise, he said that Antam, Timah and Bukit Asam's management have no direct obligations and responsibilities to the government and the DPR.
"This will be a new land and bring new mining mafia practices, although currently the supervision and performance of the three state-owned companies is strictly controlled by the government, the House of Representatives and investors because they are the issuers," Redi said.
The Third problem also potentially arise due to the implementation of the concept of mining BUMN departed from the decline in people's control over the performance and financial position of the three BUMN where the decline in control was a negative impact of the reduced function of the DPR's oversight.
"For example, the provision of PMN that could be directly supervised by the People's Legislative Assembly and the people because the three State-Owned Enterprises are still Persero's status, but if Persero is deleted, we will not be able to supervise directly, even if Inalum wants to sell Antam, Timah and PTBA shares to foreigners permission from the House of Representatives if their companies are removed," he said.
Departing from his analysis, Redi also urged the government to recalculate the cost and benefit of the discourse of the holding of state-owned mining company.
"Especially when the performance of Antam and Bukit Asam is good, the estuary of BUMN holding problem is in PP 72/2016 This rule is clearly dangerous for state companies because people can lose potential companies," he concluded.
Read Also
Citi Facilitate s Harita Nickel’s Initial Public Offering (IPO)
Gods Flame Digital Co., Ltd. officially Became a Strategic Partner…
Hydrotech Metal Collaborates with ITI, to Accelerate the Application…
ZINC Sales of Iron Ore Soared 676.3%
Hydrotech Metal are Getting Closer to Canada Securities Exchange
Today's Industry

Sabtu, 23 September 2023 - 11:33 WIB
Growing Above Industrial Average, CLEO Strives for Innovation
Producer of bottled drinking water with the brand "CLEO", PT Sariguna Primatirta Tbk (Tanobel Group) targets its sales in 2023 to grow above the average of the bottled drinking water (AMDK)…

Kamis, 14 September 2023 - 15:15 WIB
INOV Poised to Absorb PET Recycling Market Potential
The prospects of PT Inocycle Technology Group Tbk ("INOV") a public company in the field of recycling plastic (PET) bottle waste into Recycled Polyester Staple Fiber (Re-PSF), looks bright for…

Senin, 11 September 2023 - 09:07 WIB
Indonesian Cuisine, Cultural Performances Enliven Gala Dinner of 43rd ASEAN Summit
President Joko “Jokowi” Widodo and First Lady Iriana Jokowi hosted a gala dinner for leaders of ASEAN member states, partners, and international organizations at Hutan Kota restaurant in…

Senin, 11 September 2023 - 07:45 WIB
ASEAN, UN to Enhance Cooperation in Maintaining Regional Peace
On the margin of the 43rd ASEAN Summit, President Joko “Jokowi” Widodo Thursday (09/07) hosted Secretary-General of the United Nations António Guterres in a bilateral meeting at the Kakatua…

Senin, 11 September 2023 - 06:40 WIB
Indonesia, Japan Agree to Raise Partnership Status to Comprehensive Strategic
Indonesia and Japan have agreed to raise the partnership status of the two countries to strategic comprehensive, President Joko “Jokowi” Widodo has said.
News Comment