Jakarta (ANTARA) \u2013 President Prabowo Subianto is targeting the\nclosure of 700 state-owned enterprises (SOEs) by December 2026 as part\nof efforts to improve efficiency and consolidate state-owned\ncompanies.<\/p>\n
He said the government was continuing to reorganise SOEs,\nparticularly companies that were persistently loss-making or\ninefficient, or were suspected of manipulating financial statements.<\/p>\n
\u201cOf the 1,074 SOEs, we have consolidated, closed or streamlined them,\nand we are now down to around 360\u2014364 as of last night. By December, our\ntarget is to close 700,\u201d Prabowo said at the National Coordination\nMeeting of the Regional Financial Access Acceleration Teams (TPAKD) in\nJakarta on Thursday.<\/p>\n
The President said the SOE consolidation had been carried out over\nthe two years since his administration took office.<\/p>\n
He said the reorganisation was intended to focus management on\ncompanies capable of generating profits and delivering benefits to the\npublic.<\/p>\n
\u201cWe are closing those that are inefficient, loss-making, and have\nbeen producing false financial statements. We are concentrating on SOEs\nthat generate returns for the people,\u201d he said.<\/p>\n
Prabowo said the restructuring was beginning to show results. Some\nSOEs that had previously failed to turn a profit had now recorded\nearnings, with profits rising by as much as hundreds of per cent.<\/p>\n
\u201cSome have made a 900 per cent profit, some 200 per cent, some 300\nper cent. We are now determined to improve efficiency,\u201d he said.<\/p>\n
He stressed that SOE consolidation and efficiency measures were part\nof the government\u2019s efforts to improve the management of the national\neconomy. State-owned companies, he said, needed to be run more\neffectively so they could contribute optimally to the state and the\npublic.<\/p>\n
The President also said the government would continue working to\nimprove the economy amid the various challenges facing Indonesia.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/prabowo-aims-to-close-700-state-owned-enterprises-by-december-2026-1792666464", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }