Monday, 18 September 2000
Currently PLN is being throttled by private electricity debts and is threatened with having to pull the plug; so be prepared for disaster on a national scale.
IF THERE is a state-owned enterprise (BUMN) with the potential to literally cut off the flow of blood to Indonesia's economy, then that BUMN is Pertamina. Previously, under the leadership of Ibnu Sutowo, Pertamina ran up debts in the region of US$1 billion. However, this chaotic debt situation—caused partially because Pertamina was investing in sectors that had no connection whatsoever with oil and gas—was thankfully resolved quickly....
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