RI to meet asset sale target

Thu, 15 Jul 2004 | Source: DOW JONES

JAKARTA: The Indonesian government is optimistic it will reach its target of raising Rp 5 trillion (US$1=Rp 8,960) this year from sales of stakes in state-owned companies.

Mahmuddin Yasin, deputy for the State Minister for State Enterprises, told reporters on Wednesday that so far the government has raised Rp 3.4 trillion from sales in shares in several state-owned companies, the proceeds of which will be used to help finance the state budget deficit.

The government hopes to raise the remaining Rp 1.6 trillion later this year from the planned sales of a 30 percent stake in PT Bank Negara Indonesia and a 14 percent stake in PT Timah and sister company PT Aneka Tambang.--DJ

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