Minister wants IBRA to coordinate sales program<\/p>\n
JAKARTA (JP): State Minister of Investment and State
\nEnterprise Development Laksamana Sukardi called on the Indonesian
\nBank Restructuring Agency (IBRA) to coordinate its assets sales
\nprogram with the privatization plans of state enterprises to gain
\noptimum results.<\/p>\n
Laksamana indicated that the lack of coordination between the
\nministry and IBRA could crowd out the market and both agencies
\nmay be unable to achieve maximum earnings from the sale of the
\nassets and the privatization program.<\/p>\n
"The privatization of the shares in state enterprises and
\nIBRA's (assets sales program) should be synchronized to avoid
\ncrowding out the market.<\/p>\n
"BCA (Bank Central Asia) will be floated ... followed by state
\nplantations and Astra International. How much can the market
\nabsorb? Thus, the two programs should be coordinated," Laksamana
\ntold reporters prior to a cabinet meeting at the state palace.<\/p>\n
Laksamana earlier said his office had set a target of raising
\nRp 6.5 trillion through the privatization of eight state
\ncompanies to help finance the deficit in the April-December state
\nbudget.<\/p>\n
The companies scheduled for privatization are general mining
\ncompany PT Aneka Tambang, airport operator PT Angkasa Pura II,
\ncoal mining company PT Bukit Asam, plantation companies PT
\nPerkebunan Nusantara III and IV, fertilizer producer PT Pupuk
\nKaltim and pharmaceutical manufacturers PT Indo Farma and PT
\nKimia Farma.<\/p>\n
The ministry's spokesman Riza Primadi said on Wednesday that
\nthe government wished to raise between Rp 1.8 trillion ($243
\nmillion) and Rp 2.1 trillion from the sale of 760 million shares,
\nor 35 percent, of Pupuk Kaltim.<\/p>\n
Meanwhile, IBRA has plans to raise some Rp 17 trillion this
\nfiscal year ending March 31 to help finance the government's bank
\nrestructuring and recapitalization programs and Rp 19.5 trillion
\nin the coming fiscal year.<\/p>\n
One of the main assets to be sold this fiscal year is car
\nmanufacturer Astra Internasional, while Bank Central Asia is the
\nmain asset slated for sale in the next fiscal year. (jsk\/prb)<\/p>",
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