Tue, 07 Oct 2008

Monday, 06 October, 2008 | 16:44 WIB

TEMPO Interactive, Jakarta: The State Ministry of State-Owned Enterprises (SOEs) has asked larger enterprises to move their US dollar savings to Indonesia.

It is considered that this measure could help safeguard foreign exchange in connection with the financial recession in the US.

“We have suggest that they to move their saving to domestic banks,” said SOE State Minister Sofyan Djalil in Jakarta today (6/10).

Sofyan mentioned several SOEs including PT Pertamina, PT Perusahaan Listrik Negara, PT Aneka Tambang Tbk, PT Telekomunikasi Indonesia Tbk, PT Timah Tbk, and PT Perusahaan Gas Negara Tbk.

“But their US dollars will be used for foreign projects and needs,” he said.

In addition, Sofyan said special plans has been prepared for SOEs with large projects that use dollars in their operations.

However, he went on to say that SOEs working in the banking sector will not be included as they are already being controlled tightly by the central Bank, Bank Indonesia.

However, Sofyan said he had not received any reports about SOEs affected by the crisis.

“So far, there is no significant effect on the domestic economy,” he said.