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View all search resultsGovt to stop injecting capital to ailing state firms: Dahlan
State-Owned Enterprises Minister Dahlan Iskan says that the government will no longer be providing state capital injections (PMN) to ailing state-run companies
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S
tate-Owned Enterprises Minister Dahlan Iskan says that the government will no longer be providing state capital injections (PMN) to ailing state-run companies.
"We are not going to inject more capital into these state-owned firms. They should not have to rely on the state budget [to stay solvent] and they have to resolve the problem by themselves," Dahlan said on Thursday in Jakarta, as quoted by Antara news agency.
"We will provide PMN only for state-run companies that are assigned by the central government to carry out crucial projects or programs."
One of the projects that is still eligible for PMN is the development of a submarine facility where state-run shipbuilders have been called in to work.
Meanwhile, he said the government had recently introduced policy that requires companies to buy ships via the Transportation Ministry; afterward, the ships would be managed by PT Djakarta Llyod, one of Indonesia's state-owned shipping companies.
"It is not easy to resolve the problems of ailing state firms. But, I have talked to the Finance Ministry and other related ministries and departments to support it," Dahlan added. (nfo)
