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View all search resultsThe string of recent appointment of Prabowo Subianto's close aide and of Gerindra Party members as state-owned enterprises (SOEs) commissioners or deputy ministers is intended to help prevent any political turbulence during the government transition and to help the president-elect and his party secure long-term political gain for the 2029 elections, observers have said.
India plans to overhaul more than 200 state-run firms to make them more profitable, signaling a departure from Prime Minister Narendra Modi's aggressive privatization program that has struggled to take off, government sources said.
The government, Kartika said, had assigned another state-owned construction firm, Hutama Karya, to continue the construction of the three toll roads and had given the company a capital injection of Rp 12.5 trillion (US$810.7 million).
The State-Owned Enterprises (SOEs) Ministry says it plans to request an additional Rp 25 trillion (US$1.68 billion) from state coffers this year to aid several state-run construction firms, many of which are burdened by debt.
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