Jakarta, Sept. 26 -- Justice Minister Supratman Andi Agtas confirmed that the revised Law No. 19 of 2003 on State-Owned Enterprises (SOEs) will eliminate the Ministry of State-Owned Enterprises and replace it with the State-Owned Enterprises Regulatory Body (BPBUMN).

"With this revision, the Ministry of SOEs will be dissolved and replaced by BPBUMN. Its duties and functions will be more or less the same, but now it will act solely as a regulator," Supratman said following a meeting with Commission VI of the House of Representatives (DPR) at the parliamentary complex in Jakarta on Friday.

According to Supratman, BPBUMN will continue to hold a 1% golden share (Series A) on behalf of the government, while the remaining 99% (Series B shares...