events     December 1, 2020

Signing of the Government Investment Implementation Agreement in PEN Program to PT Kereta Api Indonesia (Persero)

In accordance with its mandate as an investment executor, PT SMI realized the assistance of the National Economic Recovery (PEN) program in the form of Government Investment (“IP PEN”) worth IDR 3.5 trillion to PT Kereta Api Indonesia (Persero) which was intended to assist PT KAI’s operational activities which had experienced a decline due to restrictions on travel services during the Covid-19 pandemic.

The distribution of IP PEN to PT KAI was marked by the signing of the IP PEN Agreement by the President Director of PT SMI – Edwin Syahruzad, with the President Director of PT KAI – Didiek Hartantyo, witnessed by the Director General of State Assets of the Ministry of Finance – Isa Rachmatarwata, Deputy of the Ministry of BUMN, and the Board of Commissioners of PT SMI and PT KAI (30/11).

In carrying out its mandate, PT SMI involves various independent consultants to take into account the economic, legal and financial benefits so that the funds channeled can be used optimally and accountably. PT SMI has also taken into account measures to monitor and supervise the use of PEN funds so that they can be utilized transparently and according to their allocation. It is hoped that the IP PEN assistance channeled by the Ministry of Finance through PT SMI can have a positive impact on improving public transportation services in Indonesia.

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