Pertamina faces globalization

Pertamina faces globalization

It is a public secret that the issue of globalization is being
touted by capitalists who want to expand their markets as they
invest, unopposed, their money either for the short term or the
long term in other countries. Unfortunately, developing
countries, which make up the market for their products, have no
choice but to accept this.

Pertamina's action to acquisition 1,200 gasoline stations
across this country is an act of deviance that deserves to be
supported. An official at (the state oil company) Pertamina
explained that the company was acquisitioning those gas stations
because it would never have the chance to grow unless it
controlled those downstream businesses.

Experience has shown multinational corporations to be foreign
exchange dredging machines. They contribute little to development
but take out a good deal more. Pertamina's example is of great
significance and deserves to be followed by others. As the
proprietors of one of the biggest markets in Asia and one with
good prospects for growth at that, we must have the courage to
face the era of globalization with all its consequences. The
nation's interests must come first.

-- Bisnis Indonesia, Jakarta