Senin 23 Jun 2014 14:43 WIB

Jokowi plans to buyback Indosat shares

Rep: Mutia Ramadhani/ Red: Julkifli Marbun
Jokowi
Foto: Republika/Aditya Pradana Putra
Jokowi

REPUBLIKA.CO.ID, JAKARTA -- In the third round of presidential debate on Sunday evening, Prabowo Subianto said that one of Indonesia's largest telecommunication operator, PT Indosat (ISAT) was sold to foreign company by government in period of Megawati Soekarnoputri, Chairman of Indonesian Democratic Party of Struggle. Joko 'Jokowi' Widodo commented that he would buy back the assets if he became the president.

"It will be the first stage. We will buy back Indosat at reasonable price," Jokowi said as reported by Halimatus Sa'diyah.

Government in period of Megawati Soekanorputri sold 41.9 percent of its stake in PT Indosat to STT as part of efforts to finance the country's 2003 State Budget. The acquisition has drawn strong criticism from public, particularly members of the House of Representatives (DPR) who suspected that some part of the funds would be channeled to certain political parties to finance their campaigns for the 2004 general election.

According to Jokowi, previous condition could not be compared with current condition. At that time, Indonesia experienced economic crisis and still needed money to drive the economy. When those shares are sold to foreign company, there was a clause that it could be taken back.

Therefore Jokowi said that he would take it back when national economy grew above seven percent.

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