Never-Ending Crisis
Tuesday, April 19, 2005
Pertamina's current cash flow crisis can endanger the supply of fuel into the country. A long-term solution must be found.
arsip tempo : 173228637193.
IF the current problem faced by Pertamina is not quickly resolved, it will play havoc with the supply and delivery of fuel inside the country. This crisis is serious. This state-owned company is facing difficulties in obtaining letters of credit (L/Cs) to purchase fuel oil from overseas. A number of banks have outright refused to give Pertamina L/Cs because Pertamina has defaulted on loans amounting to Rp9 trillion. If L/Cs are hard to get, the
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