Timah, PLN and three other state firms in pilot project for corporate governance

The government has selected tin miner PT Timah, electricity firm PT PLN and four other state enterprises in a pilot project for good corporate governance, State Minister of Investment and State Enterprises Development Rozy Munir announced on Thursday.

The other four companies are toll road operator PT Jasa Marga, shipping company PT Pelayaran Nasional Indonesia and plantation firm PT Perkebunan Nusantara VIII.

Rozy announced that when he launched a master plan to reform state enterprises.

He noted that the old master plan, written by former minister Tanri Abeng, needed revision to accommodate contemporary development in the country and the world.

The new master plan basically contains similar programs as in the old master plan, especially on the restructuring of state enterprises, including their privatization. However, the new master plan revises targets of income from privatization and dates for the privatization of state firms. (*)