PTBA?s labor union supports privatization
Saturday, September 14 2002 - 02:48 AM WIB
The labor union of state coal miner PT Bukit Asam (PTBA) has expressed support to the government?s plan of privatizing the South Sumatra-based firm, local daily Sriwijaya Post reported on Saturday.
The organization says however privatization of PTBA should not cause layoffs and should help improve the welfare of its workers and people living near its projects.
?Basically, we can understand the company?s plan to go public. So, we support the plan,? the company?s labor union said in a statement read out on Friday by union leader Iskandar Maliki.
PTBA will hold initial public offering (IPO) in November.
The company is one of several state enterprises that have been included in the government?s privatization program which aims to raise cash for filling in the budget deficit. (*)