Indonesia's SOE ministry asks for additional budget

17:02, May 10, 2010      

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Indonesia's Ministry for State-Owned Enterprise (SOE) on Monday asked parliament for additional budget of 52 billion rupiah (about 5.7 million U.S. dollars), from initial one of 104.2 billion rupiah (about 11.4 million dollars).

The SOE Minister Mustafa Abubakar told a parliamentary hearing that the additional budget is aimed at achieving three purposes.

"As many as 15 billion rupiah (about 1.6 million dollars) is to compose a SOE roadmap comprehensively," he said.

He added that 5 billion rupiah (about 547.6 million dollars) would be for mapping of troubled asset investment.

"The aim of mapping is for database composition, SOEs synergy and to empower non-productive assets," said Mustafa.

He said that the troubled SOEs have assets of 2,500 trillion rupiah (about 273.8 billion dollars) but they are not productive.

"Every year, the country looses potential of income and we want to minimize the loss," said Mustafa.

Meanwhile, the rest 32 billion rupiah (about 3.5 million dollars) are for buildings renovation.

The minister said that the proposal is currently discussed in the parliamentary budget division.

"We are optimistic that the budget proposal has a support from parliament," said Mustafa.



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