JAKARTA, June 24 (Xinhua) -- Indonesia is preparing to shut down around 800 underperforming state-owned enterprise (SOE) entities as part of a wider restructuring drive aimed at cutting losses and improving efficiency, President Prabowo Subianto has said.
"So far, we have closed around 240 companies," Prabowo said on Tuesday in East Java province, adding that the closures had already eased financial pressure on the national budget.
According to the government, the restructuring forms part of a broader effort to streamline the SOE sector, strengthen governance and optimize state assets.
Earlier this week, officials said more than 250 SOE entities had been consolidated as part of efforts to improve efficiency, strengthen governance and reduce the burden on the state. ■
