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Jakarta Post

Restructuring plan aims to make SOEs profitable, competitive

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Wed, December 4 2019   /  01:45 am

State-Owned Enterprises (SOEs) Minister Erick Thohir announced his plan to overhaul the country’s SOEs at a House of Representatives hearing on Monday. It included several new initiatives but excluded his predecessor’s plan to establish a “super" SOEs holding company.At the hearing with House Commission VI overseeing SOEs, trade, investment, industry, cooperatives and small-and-medium enterprises (SMEs), Erick said that he was dropping former minister Rini Soemarno’s plan to create a super SOEs holding company and would instead establish subholding companies to oversee SOEs in the same business sector.The minister said that he would also continue debt restructuring as part of his SOEs reform plans, including restructuring the debts of state-owned steelmaker PT Krakatau Steel. He also planned to improve the role of SOEs in contributing to the nation's food, energy and health secur...