Prabowo Reveals BUMNs with Profit Increases, Including Pertamina and Pegadaian

JAKARTA, KOMPAS.com - Indonesian President Prabowo Subianto revealed several state-owned enterprises (BUMN) that posted profit increases in the first half of 2026.

Among these are PT Pupuk Indonesia (Persero), PT Semen Indonesia (Persero) Tbk, PT Pertamina (Persero), PT Pegadaian, and PT Perkebunan Nusantara (PTPN).

One of the BUMNs highlighted is Pupuk Indonesia. Prabowo said the company managed to boost its profits despite the government lowering fertilizer prices.

"PT Pupuk, which had experienced losses before, now has profits up by 252 percent. PT Pupuk Indonesia is rising. BUMNs that were previously losing money are now profitable," Prabowo said while attending the 28th anniversary of the National Mandate Party (PAN) in Jakarta on Friday evening (18/9/2026).

According to company data, Pupuk Indonesia posted a net profit of Rp8.51 trillion in the first half of 2026. This marks a 252.8 percent increase compared to Rp2.41 trillion in the same period the previous year.

Prabowo said this boost came alongside the government’s fertilizer price reduction policy.

He noted fertilizer prices were cut by 20 percent, yet fertilizer volume and availability in the community increased.

Other BUMNs Also Show Profit Growth

Besides Pupuk Indonesia, Prabowo mentioned several other BUMNs that recorded profit growth in the first half of 2026.

PT Semen Indonesia (Persero) Tbk's profit reportedly rose by about 400 percent. Meanwhile, PT Pertamina (Persero) saw an 86 percent increase, PT Pegadaian rose by 84 percent, and PTPN’s profit grew by 54 percent.

These figures were also shared previously by Prabowo during the Annual MPR Session and Joint Session of the DPR-DPD RI in Jakarta on August 14, 2026.

At that time, Prabowo said Semen Indonesia’s net profit soared 408.9 percent in the first half of 2026. Meanwhile, Pupuk Indonesia rose 252.8 percent, Pertamina 86 percent, Pegadaian 84.4 percent, and PTPN 54.4 percent.

Based on the first half 2026 financial reports published after that speech, Semen Indonesia recorded profit attributable to the owners of the parent entity at around Rp207 billion.

This figure marks about a 446 percent increase compared to the same period the previous year.

Prabowo Links Growth to BUMN Restructuring

Prabowo said the improved performance of these BUMNs is part of the government’s efforts to consolidate and improve state asset management.

According to him, BUMN restructuring is necessary so the country's wealth can be managed efficiently and deliver greater benefits to the public.

Previously, Prabowo also touched on BUMN efficiency in the "President Prabowo Answers" program in September 2026.

On that occasion, he stated the government had closed 328 BUMNs since he took office as president.

According to Prabowo, this move has saved up to Rp50 trillion from operational costs such as executive and commissioner salaries, building leases, vehicle rentals, and work meetings.

Prabowo said that about 400 more BUMNs are scheduled to be closed by the end of 2026. Thus, the total number of BUMNs targeted for closure is 750 companies, with potential budget savings of up to Rp100 trillion.

Besides Pupuk Indonesia, Prabowo also mentioned PT Timah Tbk as a BUMN that recorded profit increases.

He said PT Timah's profits rose ninefold, or approximately 900 percent compared to 2025.

"PT Timah is now profitable. You might find it hard to believe, but PT Timah’s profit increased nine times, or 900 percent," Prabowo stated.

Prabowo believes this performance improvement stems from changes in BUMN management. He said the government and BUMN directors no longer seek profits for personal gain.

"Because the directors and all of us, we do not want any trickery. We do not want to steal from the state," Prabowo emphasized.

Part of this article was originally published on Kompas.com under the title Prabowo Says 328 BUMNs Closed, Claims Rp50 Trillion Budget Savings