Jakarta, June 12 -- State-owned enterprises (SOEs) remain a critical powerhouse for Indonesia's economy, contributing between Rp600 trillion to Rp700 trillion (US$35.2 billion to 41.1 billion) annually to the State, according to Head of the SOEs Regulatory Agency (BP BUMN) Dony Oskaria.

Speaking in Jakarta on Thursday (June 11), Dony firmly dismissed public misconceptions that the state-backed sector is operating at a deficit-clarifying that the staggering revenue figures exclude additional corporate taxes and direct profits.

Dony, who also serves as the Chief Operating Officer (COO) of the sovereign fund Danantara, addressed critics directly, calling claims of systemic losses within SOEs fundamentally inaccurate.

"SOEs are profitable....