Indonesian parliament discusses candidates overseeing sovereign wealth fund
Members of the Indonesian House of Representatives (DPR) are discussing candidates for the supervisory board of the Sovereign Wealth Fund (SWF), representative of the House’s Commission XI Amir Uskara said on January 19.
Members of the Indonesian House of Representatives are discussing candidates for the supervisory board of the Sovereign Wealth Fund. (Photo: tempo.co)Earlier, President Joko Widodo sent a letter to the parliament, proposing the names to the DPR leaders.
The President’s letter on the SWF investment authority board is still in possession of DPR leaders, who is going to hold an official meeting about the letter itself, he said, adding the formation of the SWF authority board will be discussed in the consultative assembly while the President’s proposed names will be considered carefully.
The SWF is established in the context that the Indonesian economy has been battered by the COVID-19 pandemic. It is planned to operate early this year, and is expected to help the Southeast Asian country recover its economy after the outbreak is controlled.
President Widodo earlier said that the government has prepared cash funds up to 15 trillion IDR (1.06 billion USD) and State-owned enterprises’ assets valued at 50 trillion IDR for the SWF.
The government also committed to support investors with total capital of around 20 billion USD./.
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