Prabowo Insists Danantara Must Be Open to Audit by Anyone, Anytime

JAKARTA, investortrust.id — Indonesian President Prabowo Subianto stressed that BPI Danantara, the newly launched state investment management agency, must remain fully accountable, declaring it should be auditable "at any time by anyone." Speaking at the signing of three legal frameworks underpinning Danantara’s establishment at the Merdeka Palace in Jakarta on Monday, February 24, 2025, Prabowo emphasized transparency as a cornerstone of the initiative.

“Danantara Indonesia is for our children and grandchildren. It must be managed with the utmost care, with full transparency, and with mutual oversight,” Prabowo said, addressing an audience that included key government officials. Official photographs from the Presidential Secretariat Press Bureau captured the event.

He further reinforced this stance, stating, “It must be auditable at any moment by anyone because, once again, this belongs to our children and grandchildren—the future generations of this nation.”

However, the legal framework governing Danantara, as outlined in the recently revised State-Owned Enterprises (SOEs) Law (Third Amendment to Law No. 19/2003), introduces specific conditions on who can audit the agency, creating a potential contrast with Prabowo’s public remarks.

Under the revised SOEs Law, passed by the House of Representatives on February 4, 2025, BPI Danantara’s audit process is structured to balance autonomy with oversight. The law stipulates that while Danantara is subject to audits, the Supreme Audit Agency (BPK), Indonesia’s primary state auditing body, can only conduct audits if explicitly requested by the House of Representatives (DPR).

This provision limits the BPK’s independent authority to initiate audits of Danantara, differing from its broader mandate over other state entities. Instead, routine audits of Danantara are to be performed by independent auditors, though the law does not yet specify who appoints these auditors or the criteria for their selection. 

The president framed Danantara as a historic step toward economic independence, resilience, and prosperity, expressing pride in its launch. “Going forward, Indonesia will no longer sell its resources cheaply to others,” he said, envisioning Danantara as a “superholding” to optimize state assets valued at over Rp 10 quadrillion (approximately $609 billion).

Prabowo underscored that SOEs under Danantara must operate with top-tier governance, innovation, and technological advancement, while maintaining discipline and responsibility.

“This is a new era for our SOEs,” Prabowo declared. “They must operate with the best governance, bold ideas, and a commitment to progress.” He tied Danantara’s mission to Indonesia’s ambition of achieving an 8% economic growth target and becoming a prosperous, advanced nation by 2045.

Yet, the audit restrictions in the SOEs Law have sparked debate. While Prabowo insists on transparency, the requirement that BPK audits hinge on DPR approval could limit proactive scrutiny, potentially shielding Danantara from regular oversight unless political will aligns in parliament. Experts note this framework mirrors models like Singapore’s Temasek, where independent audits play a key role, but critics argue it risks weakening traditional checks and balances in Indonesia’s system.

“I firmly believe Indonesia will keep moving forward, stronger and more united than ever,” Prabowo concluded. “Our greatest achievements are still ahead of us. Trust me—Indonesia will become a prosperous, advanced, and respected nation.”