Government's Clumsy Steps to Save Jiwasraya

By Editorial Team 19/11/2019
Sinking
Topic

The step to save Jiwasraya Insurance is now in the hands of the Indonesian government, as the owner. The hearing between the House of Representatives (DPR) and the Financial Services Authority (OJK), Monday (11/19), agreed to give time to the Indonesian government, as Jiwasraya's shareholders, to resolve the issue.

The Jiwasraya rescue mechanism is almost certain not to use the state budget (APBN). That is, the government will not inject additional capital into Jiwasraya. According to the Deputy Minister of BUMN Kartiko Wirjoatmodjo, the government will invite private investors to enter as shareholders and inject capital in Jiwasraya.

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