Jakarta, July 31 -- Chairperson of Commission II of the House of Representatives (DPR), Rifqinizamy Karsayuda, on Thursday revealed that the government is preparing a draft bill to upgrade regional-owned enterprises (BUMD).
"The BUMD Bill will soon be submitted to the House of Representatives by the government. With this, the government is confident that BUMDs will be able to level up," he said in a statement issued in Jakarta on Thursday.
According to Karsayuda, the government's initiative stems from concerns over the current condition of BUMDs.
Out of 1,571 BUMDs with total assets exceeding Rp1,200 trillion (about US$75 billion), around 70 percent are in poor condition due to mismanagement, excessive political interference, and incom...
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