JAKARTA
(JP): State Minister of Investment and State
Enterprise Development Laksamana Sukardi called on the
Indonesian Bank Restructuring Agency (IBRA) to
coordinate its assets sales program with the
privatization plans of state enterprises to gain
optimum results.
Laksamana indicated
that the lack of coordination between the ministry and
IBRA could crowd out the market and both agencies may
be unable to achieve maximum earnings from the sale of
the assets and the privatization program.
"The privatization
of the shares in state enterprises and IBRA's (assets
sales program) should be synchronized to avoid
crowding out the market.
"BCA (Bank Central
Asia) will be floated ... followed by state
plantations and Astra International. How much can the
market absorb? Thus, the two programs should be
coordinated," Laksamana told reporters prior to a
cabinet meeting at the state palace.
Laksamana earlier said
his office had set a target of raising Rp 6.5 trillion
through the privatization of eight state companies to
help finance the deficit in the April-December state
budget.
The companies scheduled
for privatization are general mining company PT Aneka
Tambang, airport operator PT Angkasa Pura II, coal
mining company PT Bukit Asam, plantation companies PT
Perkebunan Nusantara III and IV, fertilizer producer
PT Pupuk Kaltim and pharmaceutical manufacturers PT
Indo Farma and PT Kimia Farma.
The ministry's
spokesman Riza Primadi said on Wednesday that the
government wished to raise between Rp 1.8 trillion
($243 million) and Rp 2.1 trillion from the sale of
760 million shares, or 35 percent, of Pupuk Kaltim.
Meanwhile, IBRA has
plans to raise some Rp 17 trillion this fiscal year
ending March 31 to help finance the government's bank
restructuring and recapitalization programs and Rp
19.5 trillion in the coming fiscal year.
One of the main assets
to be sold this fiscal year is car manufacturer Astra
Internasional, while Bank Central Asia is the main
asset slated for sale in the next fiscal year. (jsk/prb) |
