By: Indra Kusuma)*
The government has once again proven its commitment to saving the national textile industry. After being declared bankrupt and ceasing operations since March 1, PT Sri Rejeki Isman Tbk (Sritex) has now found new hope with the presence of investors who are ready to revive the company. Thanks to the government’s swift steps, thousands of former Sritex workers can now return to work and earn a living.
PT Sri Rejeki Isman Tbk (Sritex) is one of the largest textile companies in Indonesia that has contributed greatly to the national economy and the welfare of thousands of workers. However, in recent years, the company has faced serious financial challenges due to various factors, causing its factory to be declared bankrupt. The government rushed to save thousands of Sritex employees who were forced to be laid off.
Minister of Manpower Yassierli ensured that Sritex had obtained new investors who were ready to take over and continue the company’s operations. This is a breath of fresh air for workers who were previously affected by the bankruptcy of the largest textile company in Southeast Asia. The government not only facilitates the presence of investors, but also ensures that workers’ rights remain protected during this transition period.
Since the announcement of mass layoffs on February 26, 2025, the government has continued to seek solutions for thousands of workers who have lost their livelihoods. Cooperation between the central government, local governments, BPJS, the curator team, and labor unions has resulted in concrete steps in completing the disbursement of Old Age Security (JHT), Job Loss Security (JKP), and post-layoff Health Insurance protection for affected workers. Minister Yassierli appreciated the active role of all parties in ensuring the smooth running of this process. In addition to ensuring the fulfillment of workers’ rights, the government is also opening the way for new investors to enter to revive the Sritex business. The Curator Team took strategic steps by opening investment opportunities that ultimately attracted the interest of potential investors. The Head of the Industry and Manpower Office of Sukoharjo Regency, Sumarno, stated that the new investors plan to recruit more than 5,000 ex-Sritex employees in the initial stage, with the possibility of additional recruitment in the future. The investor’s decision to re-operate the entire Sritex production chain, from spinning, weaving, garments, to finishing, is good news that proves investor confidence in the potential of the national textile industry. With the return of production activities, it is hoped that the regional economy will also move and have a positive impact on the welfare of the surrounding community.
The positive impact of Sritex’s rescue also includes broader economic aspects. With Sritex’s re-operation, suppliers of raw materials such as cotton, yarn, and dyes have regained their main customers. This has a positive domino effect on other supporting industrial sectors, including logistics and distribution. The sustainability of Sritex’s business also has the potential to increase Indonesian textile exports, strengthening the country’s position in the international market.
In addition to the economic impact, Sritex’s revival also creates social stability in the areas around the factory. Thousands of workers who previously lost their jobs can now return to work, reducing the unemployment rate and improving the welfare of their families. This social impact also includes increasing people’s purchasing power, which can ultimately drive the small and medium enterprise (SME) sector in the surrounding area.
The government’s success in finding new investors for Sritex is not the result of instant work. Solid coordination between various parties is needed to ensure the sustainability of the company’s business without ignoring workers’ rights. In a situation like this, the role of the government as a facilitator is crucial. The steps taken are not only limited to fulfilling workers’ rights after being laid off, but also ensuring that they return to work in better conditions.
The government’s efforts to save Sritex also reflect a broader policy in maintaining the stability of the national manufacturing industry. The government has proven that through appropriate regulations, a strategic approach to attracting investment, and cross-sector cooperation, a company that had fallen can rise again. This is a valuable lesson that the business world and workforce can survive in the face of difficult economic challenges.
The impact of saving Sritex is not only felt by workers, but also by the textile industry ecosystem as a whole. With Sritex’s re-operation, the supply chain of raw materials to the distribution of textile products can return to normal. This also contributes to increasing the competitiveness of the Indonesian textile industry in the global market.
NoIt cannot be denied that the revival of Sritex has given new hope to thousands of families who depend on this industry for their livelihoods. Workers who were previously threatened with losing their future now have the opportunity to contribute to the world of work again. Moreover, the sustainability of this business also opens up opportunities for local and national economic growth.
The public is expected to see this as real evidence of the government’s success in dealing with the impact of the bankruptcy of large companies. The government has shown its seriousness in finding solutions for affected workers and ensuring that the wheels of the economy continue to turn. Therefore, we should appreciate the government’s strategic steps in saving Sritex, which not only saves thousands of workers, but also maintains the stability of the national textile industry. )* The author is a public policy observer
