PPD's restructuring funds calculated

JAKARTA (JP): The government has appointed an independent consultant, Bahana, to calculate the funds needed for the restructuring of the ailing state-owned bus company, PPD, Minister of Finance Prijadi Praptosuharjo said.

The funds required would depend on what needed to be done to save the company, including the program for rejuvenation of the buses, he said, after a limited ministerial meeting on economic matters led by Vice President Megawati Soekarnoputri, Antara reported.

The government had earlier planned to close down the company, which always suffered losses despite the government subsidy. But the plan was aborted by the then minister of communications Agum Gumelar, who is now coordinating minister of political, social and security affairs.

Agum had agreed to buy 1,550 buses from China for the rejuvenation program.