17 state firms record higher profits: Haryanto

JAKARTA (JP): Minister of Transportation Haryanto Dhanutirto said yesterday that most of the 17 state enterprises overseen by his ministry made more money this year.

The minister said the combined profit of the 17 companies was estimated to have more than tripled to Rp 800 billion (US$338 million) from Rp 225 billion last year.

"We hope the total profit will increase further to reach over Rp 1 trillion next year," the minister told a year-end press conference.

Haryanto did not specify the profits of all the 17 companies because not all had yet calculated their profits.

It was revealed at a recent hearing of the House of Representatives that three companies -- Garuda Indonesia airlines, the dredging company PT Pengerukan Indonesia and the Jakarta public transportation company Perum PPD -- had suffered losses.

PT Pelabuhan Indonesia II, which manages the Tanjung Priok seaport in Jakarta, recorded the biggest profit -- Rp 92.63 billion -- in the first half of the year, followed by PT Angkasa Pura II, which manages several airports in western provinces, with a profit of Rp 55 billion.

The state-owned railway company Perumka had a remarkable performance this year. Its profits rose to Rp 17.5 billion this year, exceeding an initial target of Rp 12.5 billion, from Rp 10.53 billion last year.

"Perumka's staff got 13 months salary for the first time this year," he said.

The company had lost tens of billions of rupiah every year until 1994, when it made its first profit of Rp 3.8 billion.

Perumka transported about 150 million people this year, up 14.5 percent on last year.

Haryanto criticized Garuda Indonesia for its poor performance.

Garuda, which is expected to go public in 1998, has had hundreds of millions of dollars worth of liabilities since the late 1980s.

The national flag carrier lost Rp 2.65 billion in the first half of this year after making a Rp 135.79 billion profit in 1995.

"The government had injected Rp 1.7 trillion in the company to improve its financial performance," he said.

Haryanto credited the increased profit of most of the companies to his involvement in their management.

His interference has been criticized by many for costing the companies their independence. But Haryanto said it was necessary to guide the companies which could not make money or even understand their jobs.

He said he would give the companies full independence once they performed well.

"Can you imagine that one of the companies proposed to make business in drinking water? They don't even understand that their business area is transportation not drinking water," Haryanto said. (jsk)