Indonesia to close more than 750 state-owned enterprises
The Indonesian government will close more than 750 state-owned enterprises by year's end, President Prabowo Subianto said on Aug 14, 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."
