Jakarta (ANTARA) – State-owned enterprises (SOEs) remain a critical powerhouse for Indonesia’s economy, contributing between Rp600 trillion to Rp700 trillion (US$35.2 billion to 41.1 billion) annually to the State, according to Head of the SOEs Regulatory Agency (BP BUMN) Dony Oskaria.Speaking in Jakarta on Thursday (June 11), Dony firmly dismissed public misconceptions that the state-backed sector is operating at a deficit—clarifying that the staggering revenue figures exclude additional corporate taxes and direct profits.Dony, who also serves as the Chief Operating Officer (COO) of the sovereign fund Danantara, addressed critics directly, calling claims of systemic losses within SOEs fundamentally inaccurate.”SOEs are profitable. In 2025, they recorded a consolidated profit of Rp335 trillion (US$19.7 billion). So, it is a lie to say that SOEs are making a consolidated loss. The total loss is only Rp20 trillion (US$1.17 billion),” he noted.He noted that if current underperforming entities are successfully rehabilitated, consolidated profits have the potential to climb to Rp355 trillion (US$20.8 billion).”We can confidently assure the public that we are not operating at a loss, though our profit margins are not yet optimal,” he added.Under the directive of President Prabowo Subianto, Danantara has been tasked with scaling up the economic value of SOEs to further fuel national development.To achieve a higher annual target of Rp800 trillion (US$47 billion), Dony acknowledged that the agency faces complex challenges. He, however, expressed optimism that a comprehensive transformation within the SOE ecosystem will yield results.The strategic roadmap currently being implemented includes corporate consolidation, reducing and simplifying the total number of business entities and building distinct competitive advantages.Alongside structural reforms, Danantara is placing a heavy emphasis on human resource development to ensure Indonesian SOEs can compete on a global stage.”We are developing human capital. We are also standardizing the qualifications of those who become SOE directors,” Dony said.He concluded by stating that the current wave of SOE transformation represents the most fundamental governance overhaul ever undertaken by the government to maximize efficiency and state contribution.”I am very optimistic that we can do this. With full confidence, we will make our SOEs even better. There is no other choice,” Dony added.