Jokowi Claims 70 Percent of Freeport’s Profit has Got into RI’s Pocket

11 October 2022

President Joko Widodo (Jokowi) stated that 70 percent of PT Freeport Indonesia’s income already belongs to Indonesia. It happened after Indonesia acquired 51 shares through PT Indonesia Asahan Aluminium (Inalum). Jokowi explained that previously, Indonesia only held 9 percent of Freeport’s shares, with 9 percent of dividend income.

“After the 51 percent acquisition, we got taxes, dividends, royalty, export duty, and non-tax revenue. I told them to count the amount, 70 percent of the revenue in Freeport.” He said in Investor Daily Summit on Tuesday (11/10).

Indonesia acquired more than half of PTFI’s shares at the end of 2018. This is a historic moment since the first operation of PTFI in Indonesia in 1973. Over the years, Indonesia has only received PTFI’s shares by 9.36 percent. The acquisition was made through PT Indonesia Asahan Aluminum (Inalum). Now, Indonesia has officially held 51.23 percent of PTFI’s shares.

Jokowi mentioned that he got many scary stories before acquiring PTFI shares. One of them was Papua, which will separate from Indonesia. “In the past, when I wanted to take Freeport, most of the information I received was scary. Such as Papua will be shaken, Papua will be separated from Indonesia,” Jokowi said in 2021.

Furthermore, Jokowi also got other intimidating stories that the United States would be enraged if Indonesia acquired PTFI. It even made his party doubt catching half of PTFI's shares. Then, he proved that there were no crucial problems after RI succeeded in annexing PTFI shares.

Moreover, the government did not spend a dime to acquire the company. "Because it's been 41 years since Freeport has been there, and it turns out that there's nothing, even though we don't use the money to buy Freeport, we don't buy Freeport, we don't use the state budget, nor do SOEs," explained Jokowi.

 

http://www.cnnindonesia.com/ekonomi/20221011152145-532-859108/jokowi-klaim-70-persen-penghasilan-freeport-sudah-masuk-kantong-ri

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