10 firms prepared for privatization<\/p>\n
JAKARTA (JP): Ten state-owned companies have been put on a
\nprimary list for privatization this year, according to an updated
\nmaster plan to be issued by the Office of the State Minister of
\nState Enterprises and Investment.<\/p>\n
The companies are coal mining firm PT Tambang Batu Bara Bukit
\nAsam, plantation firms PT Perkebunan Nusantara III and PT
\nPerkebunan Nusantara IV, pharmaceuticals PT Indo Farma and PT
\nKimia Farma, fertilizer producer PT Pupuk Kaltim, general mining
\nfirm PT Aneka Tambang, airport operator PT Angkasa Pura II,
\nsurveyor PT Sucofindo and trading company PT Kerta Niaga.<\/p>\n
\"Stakes in these companies will be sold transparently through
\npublic offerings or direct placement to strategic partners,\" the
\noffice said in a statement.<\/p>\n
It said preparations for the sales were now well advanced with
\nseveral underwriters, financial and other advisers already
\nappointed.<\/p>\n
The sales of the companies are expected to raise about Rp 6.5
\ntrillion (US$812 million) to help fill the deficit in the state
\nbudget.<\/p>\n
If the proceeds from the sales of the companies' shares do not
\nmeet the target, the government has identified nine other state
\ncompanies as candidates for the rapid privatization program to be
\nheld also this year.<\/p>\n
The office acknowledged that its privatization program in
\nprevious years fell short of targets.<\/p>\n
The nine companies which have been put on the standby list are
\nPT Telkom and PT Indosat, retail store PT Sarinah, hotel
\nmanagement company JIHD, mining company PT Tambang Timah,
\nstrategic industry holding BPIS, fertilizer producer PT PUSRI and
\nhotel and office operators PT Wisma Nusantara and PT Perhotelan
\ndan Perkantoran Indonesia.<\/p>\n
The office also said that the government attached particular
\npriority to the restructuring and privatization of the
\ntelecommunications sector in a bid to attract massive new
\ninvestment to help the companies extend their coverage, range and
\nquality of services as well as maintain their international
\ncompetitiveness.<\/p>\n
An inter-ministerial team has been formed in order to guide
\nand oversee the preparation of a detailed action plan on the
\nrestructuring and privatization of the telecoms sector.<\/p>\n
It said the Ministry of Communications was now working to
\nfinalize the implementing regulations for the new Telecoms Law,
\nwhich would be effective in September.<\/p>\n
\"The Ministry of Communications is also working to establish a
\nmedium term tariff policy and improved regulatory arrangements,\"
\nit added.<\/p>\n
It said it was now in the process of finalizing revisions to
\nthe master plan for the restructuring and privatization of the
\nstate-owned companies.<\/p>\n
The updated master plan, which sets out the government's goals
\nand policies on restructuring and privatization, will be launched
\nby the end of June. (cst)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/10-firms-prepared-for-privatization-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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