Heaptalk, Jakarta — Coordinating Minister for Economic Affairs Airlangga Hartarto stated in Jakarta on Wednesday (11/6) that although PT Sri Rejeki Isman Tbk (Sritex) is bankrupt, the government is still granting the company unrestricted freedom to conduct export-import activities indefinitely.
According to him, export-import activities are one measure the government has implemented to help Sritex maintain operations. “Those export-import permits remain in effect. There is no time limit,” said Airlangga.
Additionally, the government is encouraging the company’s owners to undertake restructuring. “Restructuring involves the owners. The owners are responsible for the debt,” Airlangga added.
Airlangga noted that the government is working to rescue Sritex, a labor-intensive industry employing a large workforce. Consequently, the government will support and protect the employees to prevent layoffs. He added, “The government is facilitating this. What’s important is to protect industries employing many workers within the country. Being labor-intensive, the government prioritizes their well-being.”
President Prabowo Subianto previously urged his cabinet to strive to prevent layoffs at Sritex and ensure the textile company remains operational. Minister of Manpower Yassierli shared this after President Prabowo held a limited meeting with several ministers, including Coordinating Minister for Economic Affairs Airlangga Hartarto and Minister of Finance Sri Mulyani, regarding the rescue of Sritex. Layoffs are also unlikely since the option to file an appeal against the Semarang Commercial Court’s ruling will be pursued.
