PT BA privatization delayed
Saturday, August 11 2001 - 01:56 AM WIB
Newly appointed State Minister of State Enterprises Laksamana Sukardi said Friday that he would cancel the privatization program of several state-owned companies slated for 2001 including coal mining firm PT Batubara Bukit Asam (BA).
Laksamana said that his office would focus on privatizing telecommunications companies, which he said was currently appealing to foreign investors.
The government has listed some 16 companies to be privatized this year in a bid to raise around Rp 6.5 trillion in proceeds to help plug 2001 state budget deficit. But so far the government has been unable to raise any.
BA is the country?s fourth largest coal mining company with vast mining site in Muara Enim, South Sumatra. The company?s annual coal production stands at 6.5 million tons.(Alex)