Thu, 18 Sep 2003

Govt expects higher revenue from SOEs

JAKARTA: The government said on Wednesday dividend revenue from state-owned enterprises (SOEs) was expected to be higher than initially projected this year.

In a report to the House of Representatives' State Budget Commission, the Office of the State Minister for State Enterprises said SOEs were expected to contribute Rp 10.99 trillion (about US$1.3 billion) to the state coffers this year, up from the initial target of Rp 10.52 trillion.

The report said SOEs engaged in the financial and construction sectors would contribute the most to overall revenue (Rp 4.15 trillion), followed by oil and gas company PT Pertamina with Rp 2.38 trillion.

The report also said the mining sector would contribute Rp 2.24 trillion, the agriculture and forestry sector Rp 621 billion and the logistics and tourism sector Rp 1 trillion.

The dividend revenue will help plug this year's state budget deficit. -- JP