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A Leaky Purse Awaits Subsidy Funds

Monday, February 16, 2026

Delays in subsidy payments affect the cash flow of PLN and Pertamina. Tighten spending or seek financing.

arsip tempo : 177598604048.

PT Pertamina (Persero) President Director Simon Aloysius Mantiri (right) and PT PLN (Persero) President Director Darmawan Prasodjo during a hearing with Commission VI of the House of Representatives at the Parliament Complex, Senayan, Jakarta, Thursday, May 22, 2025. Tempo/Amston Probel. tempo : 177598604048.

KICKING off the Year of the Fire Horse, PT Perusahaan Listrik Negara (Persero) (PLN) moved swiftly to raise funds in the global market. The state-owned electricity utility issued bonds totaling US$1.5 billion, or around Rp25.2 trillion (assuming an exchange rate of Rp16,800 per US dollar). Global law firm Clifford Chance acted as counsel for the bond issuance. “This transaction marks the company’s return to the US dollar bond market f

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Ghoida Rahmah

Caesar Akbar and Nandito Putra contributed to the writing of this article.

PT PLN (Persero) PT Pertamina (Persero) State Budget Energy Transition Purbaya Yudhi Sadewa
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