State-Owned Companies (SOEs) are experiencing severe cash flow shortages, requiring substantial cash injections for the remaining two months of the current fiscal year, as stated by the president-elect's office.
Transitional Spokesperson Mohamad Firzul said that state-run companies, especially those engaged in government projects, were in poor condition.
"The most significant challenge that the companies are highlighting is the severe hindrance in their cash flow. This is due to the fact that they have not received the payments owed to them after implementing government projects," Firzul said during a press conference held today.
"Because of this cash flow constraint, we anticipate that a significant amount of cash flow injection will be necessary to cover daily expenses for the next two months."
However, Firuzal did not specify the names of the companies. He said that he did not want to disclose the names at this stage, as it might harm the companies involved.
The Office of the President-elect has also expressed concern over the situation of SOEs as well as some independent agencies.
Firuzal said that political influence is being exerted on the independent agencies established under the purview of the ministries, which are responsible for academic work.
"It has become difficult to fulfill the responsibilities mandated by law. These agencies have pointed out that the lack of access to resources, budgets, and human resources has severely hampered academic and technical work," said Firuzal.
Transitional committees are visiting institutions and independent bodies on behalf of the President-elect's Office during the presidential transition period.
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