Prabowo Says Indonesia Will Close More Than 750 State Firms
The overhaul has already closed 290 firms and saved about 50 trillion rupiah in overhead costs, Prabowo said.
16 Articles
16 Articles
The Indonesian president has shaken the national economic landscape by unveiling a drastic institutional offensive aimed at shutting down more than 750 state enterprises by the end of 2026, a measure based on the conviction that too many public structures operate under total inefficiency.
Indonesian President Prabowo Subianto is preparing to order the closure of more than 750 loss-making and inefficient state-owned enterprises by the end of this year, in an effort to crack down on corruption and reduce government spending.
"I thought there were 300 or 400 of them, but it turns out that there are 1,074. And these state-owned companies sometimes act as they please," the Indonesian head of state said in his speech on the state of the nation.
The Indonesian government, the fourth most populous country in the world and one of the top 20 world economies, will close over 750 public companies by the end of the year. The announcement was made on Friday by President Prabowo Subianto, who referred to the possibility of setting up a special tribunal to investigate "non-productive", ...
Indonesia to close over 750 state-owned enterprises
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.
Indonesia to close more than 750 state-owned enterprises
Southeast Asia's biggest economy has long battled corruption in its public and private sectors despite strengthening anti-graft laws, creating special investigative commissions and arresting several high profile people. "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 establishmen…
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