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
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.

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