Govt plans to speed up PTBA’s privatization program
Thursday, February 12 2004 - 03:34 AM WIB
The government is planning to speed up the sale of shares in state-owned coal miner PT Tambang Batu Bara Bukit Asam (PTBA) this year, according to Koran Tempo daily in its Thursday edition.
The paper quoted a source as saying that the sale of an 18 percent shares in PTBA was expected to be completed in April before the general elections.
The second round of the PTBA divestment is part of the government's 2004 privatization program aimed at raising cash to help finance the state budget deficit.
The government has previously sold a 16.4 percent shares in PTBA through an initial public offering. The House of Representatives has given approval to sell up to a 30 percent stake.(*)