PPD set to gain profit this year

PPD set to gain profit this year

JAKARTA (JP): The state-run city bus company Perum PPD which has been operating in the red so far, is expected to make a profit this year, according to the company's spokesman.

"We will continue to do our best to reduce our amount of losses. In 1993 we suffered Rp 16.7 billion in losses, in 1994 Rp 15.9 billion and in 1995 Rp 3.9 billion. But this year it is expected that PPD will make a profit of Rp 2 billion," Mochamad Khamuim Busro was quoted as saying by Antara over the weekend.

He acknowledged, however, that the targeted profit would not be gained from its operational income, but simply from the sale of its assets on Jl. Kramat Raya and Jl. Pasar Minggu.

The company will sell its plots of land located on the two streets. The properties are expected to sell for a total of Rp 43 billion.

The funds will be used to build the company's new head office near the Halim Perdanakusuma military air base in South Jakarta.

Mochamad blamed previous years' massive losses on the large sums of money spent on human resources.

"At present the company employs 10,030 workers, comprising 2,936 drivers, 2,845 conductors, 1,641 technicians and 2,608 administrative staffers. Formerly we had more than 11,000 employees," he said. (bas)