BPK Smells Crime Behind SOEs’ Trillion of Rupiah Losses

By Editorial Team 06/12/2023
corruption case investigation
Summary

The Financial Audit Agency (BPK) has disclosed its Summary of Audit Results for the first half of 2023. Chairperson Isma Yatun noted significant issues concerning revenue, expenses, and investments in 11 state-owned enterprises (SOEs) and their subsidiaries. "The targeted audit in the first half of 2023 revealed critical issues related to revenue, costs, and investments in 11 SOEs and their subsidiaries," Isma stated on Tuesday.

These issues, according to Isma, include unimplemented special service tariffs by PT PLN (Persero) for premium customers. Another notable problem is the advanced payments for gas purchase agreements by PT PGN Tbk, which lack sufficient risk mitigation and guarantees. Overall, the BPK identified 117 findings encompassing 202 issues, including 113 instances of internal control weaknesses and non-compliance amounting to Rp 2.92 trillion and 18 issues of inefficiency and ineffectiveness totaling Rp 1.26 trillion.

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