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City to give a Rp 7.7 trillion capital injection to Jakpro
The Jakarta administration is set to allocate Rp 7
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he Jakarta administration is set to allocate Rp 7.7 trillion (US$577.3 million) to city-owned estate developer PT Jakarta Propertindo (Jakpro) in the revised budget.
Governor Basuki "Ahok" Tjahaja Purnama said that the capital injection would support Jakpro to officially become a holding company of the smaller city-owned companies.
"We want Jakpro to be a holding company. Its subsidiaries will include, among others, Tjipinang Food Station and Jakarta Tourisindo," Ahok told reporters at City Hall on Thursday.
Ahok said that with Jakpro as a holding company, the city could easily manage and distribute funds to its companies. He said that the plan would be realized within the year. (hhr)
