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.
Today's Industry

Jumat, 31 Maret 2023 - 17:02 WIB
Boomi Partners with Leading Japanese ERP Provider To Accelerate Digital Transformation in Japan
Boomi™, the intelligent connectivity and automation leader, today announced a new partnership with Works Applications Systems, Co., Ltd. ("WAPS") which provides system development and support,…

Jumat, 31 Maret 2023 - 15:52 WIB
Tezos Activates ‘Mumbai’ Upgrade Enabling More Than a Million Transactions Per Second
Tezos, a pioneering blockchain for Proof-of-Stake consensus and on-chain governance, has activated Mumbai, its thirteenth core protocol upgrade.

Jumat, 31 Maret 2023 - 14:40 WIB
Choo Sung-hoon from Physical 100 Explored Hong Kong solo dolo
To add to the delight, the Hong Kong Tourism Board (HKTB) was glad to have Korean mixed martial artist Choo Sung-hoon – contender from NETFLIX Physical 100 – tour around Hong Kong, discovering…

Jumat, 31 Maret 2023 - 13:23 WIB
CLEO Optimistic 2023 Turnover Increases Double Digits
PT Sariguna Primatirta Tbk (Tanobel Group), a listed company, manufacturer of Bottled Drinking Water (AMDK) with the IDX ticker code: CLEO: IJ, managed to record sales of IDR 1.36 trillion in…

Kamis, 30 Maret 2023 - 17:05 WIB
TRGU Successfully Turns Losses into Profits in 2022
PT Cerestar Indonesia Tbk (TRGU), a producer of wheat flour which newly listed its shares on the Indonesia Stock Exchange last July, immediately achieved brilliant performance in 2022.
News Comment