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View all search resultsCommissioners have far less power than directors over a state-owned company's day-to-day operations and their tenures are capped to a 10-year maximum.
ewly installed president commissioner of state-owned oil and gas company Pertamina, Basuki “Ahok” Tjahaja Purnama, will face an uphill battle to keep tabs on Indonesia’s largest energy enterprise, experts say.
The former Jakarta governor told reporters before his inauguration in Jakarta on Monday that his position entailed “sitting on the board, as a citizen, to help oversee developments in [Pertamina’s] performance, field operations and teamwork".
“It's different from when I was a governor, I could tell [the public] about everything. Only certain positions have such authority. In this case, they are Pertamina’s president director and the state-owned enterprises [SOE] minister,” he said.
As stipulated in the 2003 SOEs Law, commissioners have far less power than directors over a state-owned company's day-to-day operations and their tenures are capped to a 10-year maximum, subject to the SOEs minister’s discretion.
Read also: Ahok inaugurated as Pertamina commisioner, to 'advise board on strategic moves'
“[Ahok's] responsibility is to oversee the company and advise the board of directors on strategic moves,” said Pertamina spokeswoman Fajriyah Usman, adding that the newly appointed commissioners would begin work immediately.
The company, she added, expected its new commissioners to “turn Pertamina into a global player”.
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