State firms to be privatized<\/p>\n
JAKARTA (JP): The Ministry of Industry and Trade plans to
\nprivatize five of its eight commercial companies, a senior
\nofficial said.<\/p>\n
Ministry secretary general Aidil Juzar said Wednesday the
\nprivatization program would be done through direct share
\nplacement, joint operation or selling shares to private firms.<\/p>\n
He said his office was still negotiating with private
\ninvestors. He did not say which companies would be privatized.<\/p>\n
The companies, formerly overseen by the defunct Ministry of
\nTrade, received special facilities from the government for the
\ndistribution, export and import of certain commodities.<\/p>\n
He said the government expected to receive Rp 234.4 billion in
\nincome tax and about Rp 99.4 billion in dividends from the 32
\ntrade and industrial companies overseen by the ministry.<\/p>\n
In 1996, the companies paid about Rp 291.59 billion in income
\ntax and about Rp 127.21 billion in dividends.<\/p>\n
Total assets were estimated to rise from Rp 13.32 trillion in
\n1996 to Rp 14.19 trillion in 1997, while revenue is expected to
\nrise from Rp 8.78 trillion to Rp 9.63 trillion. (10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/state-firms-to-be-privatized-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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