Non-productive assets of Pertamina total Rp13.3 trillion

State-owned oil and gas company PT Pertamina?s preliminary evaluation result has shown that the company has Rp13.3 trillion worth of non-productive assets, most of them in the form of property, land and some of them have legal problems, the Investor Daily Indonesia newspaper reported in its Thursday edition.

The evaluation result and the inventory list have shown that Pertamina has Rp13.3 trillion non-productive assets and had not yet decided how to manage them, the company?s public relations manager Hanung Budya told the Investor on Wednesday in Jakarta.

The status of several of these assets is not clear. That?s why this evaluation will be followed by efforts to settle the issue of the assets. They may be either sold, rent or put under operational cooperation with other companies. But the Investor received information that most of these assets will be sold.

Non-productive assets will reduce the efficiency of Pertamina. Every year the company has to spend Rp200 billion for the payment of land tax. (*)