Indonesian government to conduct audit on Pertamina

Jun 23, 2004 02:00 AM

The Indonesian government will conduct an audit on state gas and oil company Pertamina as a starting point to solve the company's financial problems, a spokesman said.
The director general of financial institutions at the Finance Ministry, Darmin Nasution, said the purpose of the audit was to know the history of Pertamina's debts which at end of 2003 stood at Rp 8.5 tn.

Furthermore, the government would make efforts to have the debts rescheduled over a period of three to five years.
"If we can pay the debts in three years, that would be good. If not, we could extend the period to four or even five years," he said.

Source: Asia Pulse
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