Tuesday, August 7, 2007

Minister of Finance not Satisfied with BNI's Stock Price

Minister of Finance Sri Mulyani Indrawati expressed her dissatisfaction with the price of the divestiture of 3.95 billion shares of PT Bank Negara Indonesia Tbk (BNI) as it should be higher than IDR2,050 to give considerable contribution to meet IDR4.7 trillion in privatization fund target in the State Budget.

The Minister of Finance revealed that with BNI's stock sold at IDR2,050 per share, the privatization fund only reached IDR4.05 trillion, or IDR700 billion shortage. It was why, she continued, the government was seeking alternatives to patch up the shortage.

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