JAKARTA - The government will establish a sovereign wealth fund (SWF) with an estimated initial capital of Rp 75 trillion. This was announced by Sri Mulyani Indrawati, Minister of Finance in a press conference yesterday (7/10).
According to her, the capital will be taken from cash and shares of State-Owned Enterprises (SOEs) and other sources of equity. This institution later, said her, is expected to be able to attract funds to Indonesia. "It is expected to bring in investment of up to Rp 225 trillion, three times of the initial capital," said Sri Mulyani.
The minister said that the institution would later have a supervisory board consisting of five people, including the Minister of Finance, the Minister of SOEs and three professionals. "The supervisory board will be appointed by the President after a consultation with the House of Representatives (DPR)," he said. (LK/AR)