Govt yet make final decision on PTBA privatization: Executive

The government has yet to make final decision on the privatization of state coal mining firm PT Tambang Batubara Bukit Asam (PTBA), which had been planned for August, company president director Ismet Harmaini said on Monday.

?We are awaiting government decision on PTBA privatization,? Ismet told at parliamentary hearing.

Minister of State Enterprises Laksamana Sukardi said in May the government would sell PTBA shares only in August through initial public offering (IPO) on the Jakarta Stock Exchange. The initial plan was that the share divestment would be made in June.

Sukardi said then the privatization delay went in line with PTBA?s plan to buy some shares of East Kalimantan-based coal mining giant PT Kaltim Prima Coal. The coalminer had planned to divest 51 percent of its shares by end-June.

Meanwhile, Ismet said in the parliamentary hearing that PTBA agrees with the government that the company shares be sold through IPO.

With IPO PTBA could rake in foreign funds, Ismet said.

South Sumatra-based PTBA is one of Indonesia?s top coal producers with annual out put of around 10 million tons. (godang)