Indonesia to close more than 750 state-owned enterprises
JAKARTA: Indonesia’s president mulled the possibility of a special court on Friday to investigate “unproductive” boards reporting “made up” profits, as he vowed to close 750 state-owned enterprises by year end.
Indonesia plans to shut down over 750 state-owned enterprises by the end of the year, according to President Prabowo. The Southeast Asian economy has struggled with corruption in both public and private sectors, despite implementing anti-graft measures and special investigative commissions. Prabowo disclosed that there are 1,074 state-owned enterprises, a figure that surpassed his initial estimate of 300 to 400.
The government has already closed 290 enterprises, aiming to reduce the number to no more than 300 by December 31. The closures are expected to save approximately 750 enterprises, with a target of saving 70 trillion rupiah (over $2.8 billion) in overhead costs. Prabowo also proposed creating a special ad hoc court to investigate state-owned enterprises' management and boards dating back 30 years, and suggested a special amnesty for those who repent.
Despite facing criticism for the costly free school meals program, Prabowo emphasized the importance of improving efficiency and making every rupiah of investment create jobs and enhance the quality of life for Indonesians, particularly those in poverty.
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- Indonesia to close more than 750 state-owned enterprises freemalaysiatoday.com
