What is the Cause of the Demise of State Owned Corporations?

President Susilo Bambang Yudhoyono recently announced that 158 State Owned Corporations (BUMN) possessing total assets worth Rp1.313 trillion, only recorded profits of Rp25 trillion last year. Yudhoyono further announced that 13 BUMN recorded losses. Of these 158 BUMNs, the corporations recording the lowest working performance include oil corporation Pertamina, airplane corporation Garuda Indonesia, the State Electricity Corporation (PLN) and

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