Loss-making state-owned enterprises falsely claim profits, says Prabowo
Indonesian President Prabowo Subianto, left, gestures as he delivers his annual state of nation address in front of the members of the Parliament, while Vice President Gibran Rakabuming Raka sits next to him, ahead of the country's 81st Independence Day anniversary, in Jakarta, Indonesia, on Friday. (Photo: Reuters)
JAKARTA — The Indonesian government will close more than 750 state-owned enterprises by year's end, President Prabowo Subianto said Friday, mulling the possibility of a special court to investigate "unproductive" boards."There are far too many unproductive state-owned enterprises, always reporting losses while claiming profits -- those profits are just made up," Prabowo said in his state of the nation address to parliament.
With the establishment last year of Indonesia's Danantara sovereign wealth fund to manage state assets, "we discovered that there are 1,074 state-owned enterprises," the president told lawmakers.
"I had thought there were 300 or 400 state-owned enterprises, but it turns out there are 1,074. And these state-owned enterprises sometimes operate as they please, with no sense of responsibility to the nation, to the state."
