Privatization of state enterprises
Privatization of state enterprises
The State Minister of Investment and State Enterprises
Development Mr. Rozy Munir told journalists that the target to
raise about Rp 6,5 trillion in privatization proceeds this year
is a very tough job (The Jakarta Post, April 27, 2000).
Nevertheless in a discussion which was broadcast by Radio
Trijaya FM on May 2, 2000 he expressed his optimism to reach the
target and he even said that he is prepared to step down if such
target cannot be achieved.
The minister also said that eight state enterprises are to be
privatized this year and PT Pupuk Kaltim would be one of the
first.
As a pensioner of this company, I was astonished by the news
because after PT Pupuk Kaltim entered the commercial phase
several years ago, it has never sustained a loss. PT Pupuk Kaltim
has given undeniable evidence that the company not only has been
surviving but has made great profits from exports even though
Indonesia is still facing economic turbulence. Nobody can deny
the fact that PT Pupuk Kaltim is one of the productive profit
making companies.
As a common person, I don't understand why, under the
circumstances, PT Pupuk Kaltim has been selected by the
government as one of the companies to be privatized this year.
Anyhow, it is a policy of our government and we must be confident
that it is in the best interests of the nation.
In order for the privatization of PT Pupuk Kaltim to be more
effective, efficient, practical, advantageous and to avoid
wasteful and bureaucratic procedure prior to the privatization,
the Minister of Investment and State Enterprises Development
should immediately arrange for a new Presidential Decree that
will supersede place PT Pupuk Kaltim in its previous status where
all shares are owned by the state.
Based on its performance as a productive profit making
company, it is obvious that the privatization of PT Pupuk Kaltim
will support achievement of the target of Rp 6.5 trillion from
the privatization of state enterprises.
HASAN BASRI MUCHTAR
Jakarta