Astra, Pertamina set up taxi firm in East Timor

Astra, Pertamina set up taxi firm in East Timor

JAKARTA (JP): PT Astra International and the state-owned oil
company Pertamina signed an agreement here yesterday with an East
Timor cooperative, which will operate a taxi business in the
province.

Under the agreement, Pertamina will provide soft loans of up
to Rp 1.2 billion (US$519,000) carrying an annual interest rate
of two percent for a taxi cooperative unit affiliated to the East
Timor Civil Servant Cooperative.

The agreement also requires Astra to provide up to 50 taxi
cabs, which will be sold to members of the taxi cooperative under
a credit arrangement. Astra will also provide management
assistance and technical training to the taxi cooperative.

Under the agreement, the East Timor Civil Servant Cooperative
will be responsible for selecting human resources, providing
workshop facilities, processing investment licenses, helping
organization and facilitating the entrepreneurship of the taxi
cooperative.

Yesterday's agreement was signed by Pertamina's director for
general affairs, Baharuddin (second right), Astra director Rini
M.S. Soewandi (right) and chairman of the East Timor Civil
Servant Cooperative Herminio da Silva da Costa (third right). The
signing ceremony was attended by chairman of the Federation of
Civil Servant Cooperatives Sumitro Djojohadikusumo (third left),
Minister of Cooperatives and Small Enterprises Subiakto
Tjakrawerdaya (left) and East Timor Governor Abilio Jose Osorio
Soares (center).

Rini said that Astra will also provide repair workshop and
regular supervision and evaluation.

She added that the credits will be revolved among members of
the taxi cooperative, so that more people in the province will be
able to own taxi cabs. (kod)