Draft Permenkeu Governing State Receivables

The Government is expediting the modernization of the legal framework for the administration of state receivables through the harmonization process of Draft Regulation of the Minister of Finance  (“ RPermenkeu ”), which amends Regulation of the Minister of Finance No. 240/PMK.06/2016 on the Administration of State Receivables (“ Permenkeu 240/2016 ”). This regulatory revision is intended to provide the Government with greater flexibility in utilizing seized assets, including assets originating from the former Bank Indonesia Liquidity Assistance (Bantuan Likuiditas Bank Indonesia- “ BLBI ”) program, in order to accelerate the recovery of state finances.

“The draft is currently under discussion at the Directorate General of Laws and Regulations (Direktorat Jenderal Peraturan Perundang-undangan/DJPP) and is undergoing harmonization of a number of new provisions,” stated Mohamad Akyas in his capacity as Head of the Execution Auction Policy Section at the Directorate General of State Assets (Direktorat Jenderal Kekayaan Negara-“ DJKN ”) of the Ministry of Finance.

Substantively, the proposed amendment to the regulation is intended to implement the authority of the State Receivables Affairs Committee (Panitia Urusan Piutang Negara- “ PUPN ”) as provided under Regulation of the Government (“ PP ”) No. 28 of 2022 on the Administration of State Receivables by PUPN, as amended by PP No. 4 of 2026 (collectively referred to as “ PP 28/2022 ”). In addition, the proposed amendment also sets out mechanisms for debt settlement through the transfer of assets as well as the takeover of assets by the state, including an expansion of the scope for the valuation of collateral.