Govt retains Martiono

JAKARTA (JP): Minister of Mines and Energy Susilo Bambang Yudhoyono said on Wednesday the government had no plans to replace Martiono Hadianto as president of state oil and gas company Pertamina.

Yudhoyono said at Merdeka Palace after a meeting with President Abdurrahman Wahid that the President had confidence Martiono could carry out the task of restructuring and improving the efficiency of the state company.

There was a speculation over the past week that the President would appoint a new Pertamina chief.

Yudhoyono also said the government would honor all mining contracts awarded by the previous governments, but that it would adjust the contracts to the new Law No 25/1999 on intergovernmental fiscal balance.

The law, which will take effect in 2001, will give the provinces larger shares in government revenue from natural resources. (prb/jsk)