Govt to reduce stake in PGN

The government is planning to sell a part of its stake in state-owned gas transmission and distribution firm PT PGN this year as efforts to help raise budget funds, a minister said Monday.

?The government plans to sell up to a ten percent of its stake in PGN this year. This program would take place together with other state companies,? State Minister for State Enterprises told reporters, without elaborating further.

In December 2003, the government sold a 39 percent stake in PGN under an Initial Public Offering. (godang)