JAKARTA – Deputy Speaker of the House of Representatives (DPR), Sufmi Dasco Ahmad, responded to the issue of share buybacks being carried out by fund management institutions amid market volatility over the past few weeks.

According to Dasco, buybacks are not only relevant for state-owned enterprises (SOEs) but also for private companies with strategic projects and strong business fundamentals.

“SOEs and private companies with strategic projects have strong fundamentals,” Dasco said at the DPR building on Thursday, 11 June 2026.

The statement followed a meeting on Tuesday (9/6), in which Dasco summoned executives from the Association of State-Owned Banks (Himbara), insurance companies and Danantara to encourage share buybacks on Indonesia Stock Exchange (IDX).

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Dasco also responded to speculation regarding a potential share buyback by PT Bank Central Asia Tbk (BBCA). According to him, there is no issue as long as transactions are conducted through proper market mechanisms.

“As long as it is carried out through market mechanisms, especially when the shares are currently relatively cheap, then just buy them,” Dasco said.

In addition to discussing volatility in the stock market, Dasco said the government is preparing several measures that it believes will strengthen the rupiah in the near future. He therefore urged members of the public holding US dollars to begin converting them into rupiah.

“It would be better to sell your dollars, because if the rupiah strengthens next week, it would be a pity to keep holding dollars,” Dasco said.

Following support from the DPR for share buybacks and rupiah stabilisation efforts, the rupiah strengthened 0.71% to IDR 18,058 per USD in Wednesday’s trading. The currency extended its gains on Thursday (10/6), rising a further 0.63% to IDR 17,944 per USD.

However, as of 3:40 PM WIB on Thursday, the rupiah had weakened again by 0.12% to IDR 17,965 per USD. (KR/ZH)

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