Indonesia to close hundreds of state firms after review
President Prabowo Subianto announced that Indonesia will shut down over 750 state-owned enterprises. He criticized many of these companies for being unproductive and reporting false profits. The government has already closed 290 firms and aims to keep only those that benefit the public. Prabowo Subianto also discussed the possibility of a special court to investigate past management.
What we know
- Prabowo Subianto revealed that Indonesia has 1,074 state-owned enterprises, far more than previously thought.
- More than 750 of these companies will be closed, with only productive ones remaining.
- The restructuring has already saved about 50 trillion rupiah in costs.
- The government aims to save over 70 trillion rupiah this year.
- Prabowo Subianto suggested creating a special court to investigate boards from the past 30 years and mentioned the idea of a special amnesty for those who repent.
