Until 2019, the State Sukuk Charges 14 Railway Projects
By : Wiyanto Dan Aldo Bella Putra | Wednesday, August 22 2018 - 16:00 IWST

PT Kereta Api Indonesia (KAI) (Toto Ist))
INDUSTRY.co.id - Jakarta - Until 2019 at least Rp. 7.1 trillion of State Sukuk is used for financing 14 railway infrastructure development projects which are not only concentrated in Java but also to Sumatra and Sulawesi.
The Directorate General of Financing and Risk Management (DJPPR) recorded 14 projects which began in 2018 from Cirebon-Kroya segment 3 to Jombang, Maja-Rangkasbitung, Medan Layang Train, Rantauprapat-Kotapinang, Binjai-Besitang-Langsa, Makassar-Pare-pare, and Kuala Tanjung College.
"The Ministry of Transportation, especially the Directorate General of Railways is indeed the most active in the utilization of State Sukuk. The Ministry of Transportation has begun to use Islamic financing since 2013 to build the Jatinegara to Kroya double track railroad, "said Ms. Loto Srinaita Ginting, as Acting. Director of Sharia Financing, DJPPR, in Jakarta, Tuesday (20/8 2018).
Recorded from 2013 to 2017 infrastructure development funds from the state sukuk used by the Ministry of Transportation to build railways in Java and Sumatra reached Rp 16.71 trillion.
Government Sukuk was launched by the government based on Law Number 19 of 2008 concerning State Sharia Securities, while project financing through State Sukuk issuance has a legal umbrella in the form of Government Regulation Number 56 of 2011.
"The interesting thing about sharia bonds or sukuk issued by the government gets tax privileges. The Director General of Taxation approved the abolition of the imposition of income tax (PPh) for investment in State Sukuk, "he said.
The abolition of the Income Tax requires three conditions, namely the party or entity that issues sukuk or SPV (Special Purpose Vehicle) that is part of the government, the establishment of the entity is derived from the state budget, and all revenues obtained are for the state budget.
And most importantly, he continued, the bookkeeping of the entity will be supervised by the state functional supervisor, namely BPKP, BPK and Inspectorate General of the Ministry of Finance. So that indeed Islamic financing for infrastructure is a project financed by the government.
The development of Railway infrastructure is indeed a priority for the government, in the National Railway Master Plan (Ripnas) which is targeted to 2020, rail transport capacity reaches 600 million passengers a year while freight transport becomes 60 million tons / year.
Read Also
Trimegah Sekuritas Supports Ikatan Alumni SBM-ITB to Realise Lifelong…
Fujitsu chosen for Dow Jones Sustainability World Index for 22nd…
Olympus Named to Dow Jones Sustainability World Index for Three Consecutive…
New Economic Board, GOTO Share Moves Closer to Global Indices
Midday Break, the Composite SMidday Break, the Composite Stock Price…
Today's Industry

Senin, 09 Juni 2025 - 14:22 WIB
Savyavasa and Permata Bank Launch Exclusive Foreign Mortgage Program
Savyavasa, a luxury residential development by Swire Properties and JSI Group under PT Jantra Swarna Dipta, in collaboration with Permata Bank, presents a new solution for foreign nationals…

Rabu, 21 Mei 2025 - 10:09 WIB
Indonesia, Thailand Sign MoU on Health Sector, Focusing on Global Capacity, Collaboration
As a part of President Prabowo Subianto’s official visit to Thailand, both countries signed a Memorandum of Understanding (MoU) on health sector, in an effort to strengthen bilateral cooperation…

Rabu, 21 Mei 2025 - 10:06 WIB
Indonesia, Thailand Deepen Cooperation on Security, Trade, and Regional Stability
resident Prabowo Subianto has reaffirmed Indonesia’s strong commitment to deepening bilateral relations with Thailand during the meeting with Thailand’s Prime Minister Paetongtarn Shinawatra…

Selasa, 20 Mei 2025 - 12:44 WIB
Boediman Widjaja's Technology Ready to be Adopted in Jababeka Industrial Estate (KIJA)
In an exclusive seminar entitled "A Great Step: Boediman Widjaja Story - Going from Indonesia, Thriving in Singapore" held at the President Lounge, Menara Batavia, Boediman Widjaja, Founder…

Jumat, 02 Mei 2025 - 10:46 WIB
Binawan and Government Support Indonesian Nurses in Europe through Scholarships
In the midst of the viral #KaburAjaDulu hashtag as a symbol of the young generation's disappointment with domestic working conditions, Binawan responded with real action: dispatching Indonesian…
News Comment