JAKARTA — For an emerging economy with ambitions of grandeur, a shallow financial pond is a dangerous place to swim. Indonesia’s Finance Minister, Purbaya Yudhi Sadewa, understands this paradox well. In a high-stakes meeting with the House of Representatives (DPR) on Wednesday (4/2), he presented the government’s stance on the amendment to Law No. 4 of 2023—the Omnibus Law on the Financial Sector, better known as P2SK.
The move is not merely a bureaucratic facelift; it is a strategic hardening of the nation’s financial arteries. By deepening markets and tightening risk management, Jakarta hopes to transform a sector often viewed as a passive intermediary into a high-octane engine for sustainable growth.
The Architecture of Trust
The original P2SK Law was hailed as a landmark reform, yet the rapid evolution of global finance—and the specter of market volatility—has necessitated a swifter acceleration. Minister Purbaya, representing a presidential mandate, emphasized that stability and public trust are the primary currencies of this reform.
The amendment seeks to harmonize the “Four Pillars” of Indonesia’s financial stability: the Ministry of Finance, Bank Indonesia, the Financial Services Authority (OJK), and the Deposit Insurance Corporation (LPS).
“The financial sector must be driven as a growth engine capable of channeling financing to productive sectors with solid risk management,” Purbaya remarked, signaling a shift away from speculative froth toward industrial substance.
Audit Strategis: The P2SK Reform Trajectory
The government’s “Inventory of Issues” (DIM) highlights a clear pivot toward global competitiveness. The focus is no longer just on survival, but on depth and inclusion.
Beyond Mere Regulation
The urgency for reform stems from a realization that Indonesia’s financial sector remains small relative to its GDP. By involving industry associations, academics, and the public, the Ministry is attempting to build a consensus that transcends pure politics.
Minister Purbaya closed the session with a flourish of economic optimism, framing the P2SK amendment as a foundational brick for the nation’s future. For an economy aiming to escape the middle-income trap, a resilient financial fortress is not a luxury—it is a prerequisite.
Verified Source: kemenkeu.go.id
