The Dismal Portrait of SOEs

Telkom finally saved the government's face. In the first week of December, the government sold 11.9 percent of the telecommunications company's shares at Rp2,600 per unit. It's not so bad, as in this way Rp3.1 trillion went to the state treasury. In fact, it means that the government failed to achieve the target of Rp6.5 trillion set in the state budget for 2001. Nonetheless, it's still better than last year, when the government sold none of its

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