Profile Retno Sulistyawati

Retno Sulistyawati





  • Health Insurance’s Over-budget
    Economy

    Health Insurance’s Over-budget

    The government had gone back and forth to disburse reserved funds to patch up BPJS Health’s deficit. The gap between spending and revenues remain wide.

  • In a Penny,  Out a Pound
    Economy

    In a Penny, Out a Pound

    THE amount of premium paid by the Health Care and Social Security Agency (BPJS Kesehatan) participants is not enough to cover for the amount of claims billed.

  • Scrutinizing  the Agreement
    Economy

    Scrutinizing the Agreement

    A number of issues do not seem to be resolved. Inalum will not be responsible for environmental impacts from the past.

  • Lobbying Agenda in Nusa Dua
    Cover Story

    Lobbying Agenda in Nusa Dua

    Financing disaster mitigation and the digital economy is Indonesia’s main agenda at the International Monetary Fund-World Bank Group Annual Meetings in Bali. Indonesia is still waiting for the Human Capital Index to be released.

  • Premium Drama in Nusa Dua
    Economy

    Premium Drama in Nusa Dua

    President Joko Widodo ordered for the cancellation of Premium gasoline’s price hike. The plan to increase fuel prices, along with Pertamina’s financial situation, had been discussed at the Vice President’s office.

  • No Goodbyes from Tio
    Cover Story

    No Goodbyes from Tio

    The Lion Air crash caused hundreds in Bangka Belitung to lose family members. A couple lost their daughter, their son in-law and two grandchildren.

  • acquiring Rice  DATA Accuracy
    Economy

    acquiring Rice DATA Accuracy

    The agriculture ministry questions the accuracy of the latest rice data from the central statistics agency.

  • Lobbying for Tobacco Excise
    Economy

    Lobbying for Tobacco Excise

    The clove cigarette industry is lobbying for no excise rate increase next year.

  • Merpati Dreams to Fly Again
    Economy

    Merpati Dreams to Fly Again

    Kim Johanes Mulia has had his eyes on Merpati Nusantara Airlines for a long time. He is now just one approval away from achieving that goal.

  • Hitchhikers’ guide to Freeport
    Economy

    Hitchhikers’ guide to Freeport

    The government suspects piggybacking by private investors during the divestment process of Freeport Indonesia’s shares.

  • Securing the Draft Mining Regulation
    Economy

    Securing the Draft Mining Regulation

    The regulation on coal and mineral mining is revised for the sixth time. Coal businesses with first-generation contracts enjoy the revision.

  • The Two Suns of Batam Island
    Economy

    The Two Suns of Batam Island

    The Mayor of Batam has repeatedly complained about dual leadership to Vice President Jusuf Kalla.

  • Old Hands, New Chairs
    Economy

    Old Hands, New Chairs

    The transaction for acquisition of majority stake in Freeport Indonesia has been completed. Inalum fails to propose its preferred candidate for CEO.

  • Protecting State Assets
    Economy

    Protecting State Assets

    The government plans to insure state assets to minimize risks of disaster. The Padang City Government has implemented it since eight years ago.

  • Airfare Affair
    Economy

    Airfare Affair

    Domestic airlines succumbed to consumers’ demands for lower ticket prices. The Business Competition Supervisory Commission began to investigate possibility of rule violations.

  • The Industry is not being Killed
    Economy

    The Industry is not being Killed

    Minister of Transportation Budi Karya Sumadi

  • Quelling the Jiwasraya Storm
    Cover Story

    Quelling the Jiwasraya Storm

    The government has come up with various schemes to salvage Indonesia’s oldest life insurance company. Reports from the Supreme Audit Agency and Financial Services Authority have shown investment irregularities for quite some time.

  • Fighting over Customers’ Deposits
    Economy

    Fighting over Customers’ Deposits

    Banks are chasing after all manner of liquidity because growth of savings have stagnated. A bank interest war is inevitable.

  • Double Positions Provide a Clue
    Economy

    Double Positions Provide a Clue

    The Business Competition Supervisors Commission encountered the potential for unhealthy business practice violations in the airline industry. Airlines are claiming they already lowered ticket prices.

  • Non-negotiable Price for Domestic Production
    Economy

    Non-negotiable Price for Domestic Production

    The energy and mineral resources ministry has cut the coal production quota for a number of provinces. The decision triggers businesses to worry.

  • Limited to Small Firms’ Market
    Economy

    Limited to Small Firms’ Market

    A set of problems arise in the efforts to meet domestic coal supply goals.

  • Lack of Access, Empty Airports
    Economy

    Lack of Access, Empty Airports

    Various efforts are taken to enliven still-empty new airports. A number of programs are launched, from umrah minor pilgrimage and cargo services to offering incentives. Access is key to solving the problem.

  • Limbo at the ‘Immortal’ Field
    Economy

    Limbo at the ‘Immortal’ Field

    Three years had passed after the Masela Block’s LNG development plan was changed from offshore to onshore, but the government has yet agreed to the revision. Deputy Energy Minister Arcandra Tahar asked contractors to lower cost estimates, but the SKK Migas recently raised the figures.

  • Starting with Trikora
    Economy

    Starting with Trikora

    In mid-March, a number of directors and commissioners of Krakatau Steel flew to the Morowali industrial area in Central Sulawesi. Silmy Karim, CEO of the state-owned steel company, led the group to the factory of Indonesia Tsingshan Stainless Steel.

  • Aiming for the Jakarta-Jeddah Route
    Cover Story

    Aiming for the Jakarta-Jeddah Route

    Garuda Indonesia’s leadership is pursuing various avenues to overcome the company’s losses. The airline has minor pilgrimage and haj customers in its sights.

  • I Have No Wish for Trickery
    Cover Story

    I Have No Wish for Trickery

    Garuda Indonesia Finance Director Fuad Rizal

  • Following Footsteps
    Economy

    Following Footsteps

    The President proposed a sole candidate for Bank Indonesia senior deputy governor, Destry Damayanti. She has been walking in the shoes of predecessor Mirza Adityaswara.

  • Import as a Last Resort
    Economy

    Import as a Last Resort

    The lag in garlic supply has sparked price hikes. The Trade Ministry has yet to approve State Logistics Agency to start importing this staple spice.

  • Additional Services for Muslim Tourists
    Economy

    Additional Services for Muslim Tourists

    The government tagged halal tourism as part of the national tourism industry. This, however, does not change the concept into Sharia tourism.

  • From Watches to Private Jets
    Economy

    From Watches to Private Jets

    Private pawnshops continue to innovate as they face competition. They are targeting the upper class while working with the lower class.

  • Suffering from Mining Sector’s Slowdown
    Economy

    Suffering from Mining Sector’s Slowdown

    Mining center areas are struggling to survive the sector’s demise. The sluggish economy has also hit the property sector in mining districts and cities.

  • Abadi Project’s Key Momentum
    Economy

    Abadi Project’s Key Momentum

    The government aims to sign the PoD during the G20 meeting in Japan. Inpex proposed an extension for Masela Block’s production sharing contract until 2055.

  • Losing Markets to Digital Dominance
    Economy

    Losing Markets to Digital Dominance

    Hero is making another round of shutdown of its Giant supermarkets. The buildings are converted into IKEA stores.

  • Racing With Time
    Cover Story

    Racing With Time

    Rini Soemarno is accelerating the establishment of a superholding company for state-owned enterprises. With Jokowi’s new cabinet lineup now in the works, the attempt to disband the state-owned enterprises ministry is met with resistance from the PDI-P.

  • New Option for Muamalat
    Economy

    New Option for Muamalat

    Bank Muamalat’s rights offering plan is delayed again. The Financial Services Authority questions the transaction scheme.

  • Two Managers One Corridor
    Economy

    Two Managers One Corridor

    The government extended Corridor’s work area contract, but decided to keep the block’s previous contractor involved. Pertamina offered the lowest bid for managing the block’s operation.

  • A Shadow Across Java
    Cover Story

    A Shadow Across Java

    Transmission error caused a number of power plants in West Java to shut down. The late recovery may have been due to the shortage of emergency power to operate power stations’ communication equipment.

  • Healthcare Deficit Remedy
    Economy

    Healthcare Deficit Remedy

    The BPKP predicts a higher deficit this year. The Health Care and Social Security Agency is asked to improve its system to prevent frauds.

  • Healthcare Deficit Remedy
    Economy

    Healthcare Deficit Remedy

    The BPKP predicts a higher deficit this year. The Health Care and Social Security Agency is asked to improve its system to prevent frauds.

  • Discreet Drafting
    Economy

    Discreet Drafting

    Bappenas asked experts involved in the discussion not to reveal the capital city relocation plan. But now, there are demands for public transparency.

  • Rumblings in Blora
    Economy

    Rumblings in Blora

    The people of Blora are demanding their share of the Cepu oil profits. At the height of its production, the Banyu Urip oil field is Indonesia’s biggest oil contributor.

  • Sugarcoating Palm Oil
    Economy

    Sugarcoating Palm Oil

    India agreed to synchronize tariffs for processed palm oil from Indonesia and Malaysia. This is expected to boost Indonesia’s exports.

  • Clothing Industry’s Off Season
    Economy

    Clothing Industry’s Off Season

    The influx of imported textiles puts the local industry in a frenzy. Business actors suspect misappropriation of import incentives.

  • Laden in Debts
    Economy

    Laden in Debts

    Several companies are demanding a commitment from Sriwijaya Air regarding the latter’s debt payments. Garuda Indonesia Group will ask for cash payments for all service rendered.

  • Problematic Law Insertions
    Economy

    Problematic Law Insertions

    Deliberations on the mineral and coal mining law revisions were supposed to be concluded before the inauguration of the new parliament. The revisions include special privileges to coal businesses holding first-generation contracts.

  • Discounts on Weekends
    Economy

    Discounts on Weekends

    Food delivery businesses have become primadonnas. Payment companies are taking advantage of a largely uncharted market.

  • State Capital in Petrochemical Refinery
    Economy

    State Capital in Petrochemical Refinery

    President Joko Widodo issued a government regulation to solve TPPI’s business problems. Pertamina is tasked with executing an integrated petrochemical refinery.

  • A Sign of Light at the Palace
    Economy

    A Sign of Light at the Palace

    After months of delay, Vale’s divestment process finally resumed following a meeting between the company’s CEO and President Joko Widodo. They offered a discount.

  • Power Charging Station Business
    Economy

    Power Charging Station Business

    PLN continues to increase the number of its public charging stations for electric vehicles. The company welcomes everyone wishing to enter the business of the future.

  • The Government Asked Me to Participate
  • An Unprofitable Proposal from Tual
    Cover Story

    An Unprofitable Proposal from Tual

    Masela Block’s development is entering a new chapter. Amid preparations for Rp280 trillion project’s front-end engineering design, the contractor received a visit from businessman Tomy Winata, who offered his port in Tual to serve as a logistics base. With regional government officials giving their support, it is believed that accepting the tycoon’s proposal would only cause costs to swell.

  • Hangs by a Thread
    Cover Story

    Hangs by a Thread

    The plan to create a superholding for state-owned companies could fail due to potential political complications. The establishment of sectoral holdings is being reviewed.

  • State’s Petrochemical Refinery
    Economy

    State’s Petrochemical Refinery

    Pertamina has officially taken control of Trans Pacific Petrochemical Indotama’s parent company. The cabinet was swift in carrying out the President’s orders.

  • TPPI’s Integration Mission
    Economy

    TPPI’s Integration Mission

    Trans Pacific Petrochemical Indotama’s (TPPI) aromatic refinery in Tuban, East Java, will be resuscitated. Pertamina plans to rebuild it into an integrated petrochemicals factory after controlling the majority shares of TPPI’s parent company Tuban Petrochemical Industries (TPI).

  • Indonesia’s Electricity Giants
    Cover Story

    Indonesia’s Electricity Giants

    Companies are racing to build power plants. Investment in the electricity sector is particularly lucrative.

  • Acceleration of Mandatory Biodiesel
    Economy

    Acceleration of Mandatory Biodiesel

    The government accelerated the B30 program this week. This happened under the shadow of a shortage in methanol supply.

  • End of PLN’s game of Thrones
    Economy

    End of PLN’s game of Thrones

    Zulkifli Zaini has been chosen to head Indonesia’s state electricity company PLN. Communication between President Joko Widodo and former vice president Jusuf Kalla shadows the removal of former prime contender Rudiantara.

  • I Had to Look for High Returns
    Economy

    I Had to Look for High Returns

    Hary Prasetyo, finance and investment director of Asuransi Jiwasraya 2008-2018

  • The Mysterious “Calamitous” Bill
    Cover Story

    The Mysterious “Calamitous” Bill

    The government is completing the final draft of its job creation bill, as part of the omnibus bill package. Amid criticism of the government’s non-transparent drafting process, several concepts still in the preliminary stages may experience overhauls, with the inclusion of business people in the deliberations.

  • If Leaked With no Understanding of the Context, There’d be an Uproar
    Cover Story

    If Leaked With no Understanding of the Context, There’d be an Uproar

    Coordinating Ministry for Economic Affairs Secretary Susiwijono

  • Energy Council Selection Chaos
    Economy

    Energy Council Selection Chaos

    The selection process of the National Energy Council’s member is still not finished even after two years. There are suspicions that the reselection is done for the benefits of politicians who failed to enter the parliament.

  • Palapa Ring’s broken Promises
    Economy

    Palapa Ring’s broken Promises

    Communication and Informatics Minister Johnny Gerard Plate

  • Roundabout Rescue Scenario
    Economy

    Roundabout Rescue Scenario

    An injection of state equity participation is one of the possible schemes to rescue Jiwasraya, through the holding of a state-owned insurance company.

  • Health Deficit
    Economy

    Health Deficit

    The Supreme Court has annulled the premium hike of the National Health Insurance Program. Efforts to improve the finances of BPJS Kesehatan is now in jeopardy.

  • The First Victims of the Market Crash
    Economy

    The First Victims of the Market Crash

    Air travel and tourism are the first industries to be hit by the Covid-19 pandemic. A number of rescue policies are being prepared.

  • Uneven Progress
    Economy

    Uneven Progress

    Government’s program to expedite a number of waste-to-energy plant projects are not progressing at the same pace. Only projects in Surabaya are ready to operate.

  • The Wave of Unemployment
    Cover Story

    The Wave of Unemployment

    The economic downturn caused by the coronavirus pandemic has impacted hundreds of thousands of workers. The number may still rise to the millions, with disappearing jobs adding to new unemployment. But limited data is a stumbling block to the government’s pre-employment card program.

  • Indonesia First
    Cover Story

    Indonesia First

    The government suspended the export of ethanol to secure supplies needed for combatting Covid-19. Producers protested over unclear mapping of the domestic demand.

  • Depression and confusion
    Cover Story

    Depression and confusion

    The coronavirus pandemic has hit the transportation service sector hard. Conflicting government policies are not helping any.

  • Bitter Taste of Sugar Shortage
    Economy

    Bitter Taste of Sugar Shortage

    The government is struggling to keep up consumption sugar supply after prices soared. This comes in the midst of an impending global food crisis due to the Covid-19 pandemic.

  • Upstream Chaos
    Economy

    Upstream Chaos

    The oil-and-gas upstream industry is revising its 2020 targets, as it gets hit from all sides.

  • Expanding Costs for the Biodiesel Program
    Economy

    Expanding Costs for the Biodiesel Program

    The decrease of crude oil prices is endangering the biodiesel program. The price difference of biofuels and diesel fuel has driven up the amount of funds needed to pay incentives to biodiesel producers.

  • Law Destroyed  in the House
    Economy

    Law Destroyed in the House

    Ratification of the revised Mineral and Coal Mining Law draws criticism, with many accusing it of only benefitting mining corporations. A leaked letter from the Energy Commission points out that the deliberations should not continue.

  • The Digital Lure at Shopping Centers
    Cover Story

    The Digital Lure at Shopping Centers

    Several shopping centers are ready to operate in the so-called ‘new normal’ era. Some retailers switched to online platforms, while others are preparing digital strategies.

  • Sharing the Burden
    Economy

    Sharing the Burden

    The Finance Ministry and Bank Indonesia are formulating further agreements to finance the economic recovery. The budget is suffering under massive pressure.

  • Draining Coffers for Biodiesel
    Economy

    Draining Coffers for Biodiesel

    The government decided to inject some Rp2.78 trillion to support the Indonesian Palm Oil Plantation Fund Management Agency in the swelling B30 program. It is seen as only benefiting oil palm oil giants that produce biodiesel.

  • Not Ready for Risk-Taking
    Cover Story

    Not Ready for Risk-Taking

    The government will soon determine participating banks for channeling funds to support banking liquidity. But the plan may be an ineffective and ineffecient way to restore the economy.

  • New Face for an Old Plan
    Economy

    New Face for an Old Plan

    State-owned enterprises ministry reorganized the business structure of Pertamina. It was designed long in advance, after noticing the excessive bureaucracy was slowing the company down.

  • Jiwasraya’s Bad connection
    Economy

    Jiwasraya’s Bad connection

    Ties between players in a suspected corruption case at Jiwasraya are becoming clearer. The involvement of investment managers led investigators to the Financial Services Authority and the Indonesian Stock Exchange.

  • Easy to Read and Trustworthy

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