TEMPO.CO, Jakarta - Indonesian President Prabowo Subianto has canceled a regulation that allowed for an additional state capital injection into the shares of PT Waskita Karya Tbk, a state-owned construction firm.
This decision is outlined in Government Regulation (PP) No. 20 of 2025, which revokes Government Regulation No. 34 of 2022 that previously governed Waskita Karya's capital increase.
"Government Regulation No. 34 of 2022, concerning the addition of state capital investment of the Republic of Indonesia into the share capital of PT Waskita Karya Tbk, is revoked and declared void," states Article 1 of the new regulation, as quoted from the Ministry of State Secretariat's Legal Documentation and Information Network website on Thursday, June 19, 2025.
The new regulation explains that the 2022 rule could not be implemented, necessitating its cancellation. President Subianto signed PP No. 20 of 2025 on May 6, 2025, and it took effect upon promulgation.
For context, PP No. 34 of 2022 authorized a state capital injection of up to Rp3 trillion for Waskita Karya, funded from the 2022 State Budget (APBN).
Editor's Choice: Waskita Karya Works on Facility Development at Timor-Leste Airport
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