PREMIUMGovt to cap growth of SOEs’ capex at 7 percent as focus shifts to profitability

first_imgFacebook Topics : Linkedin Google Indonesia SOE-Minister SOEs capex reduction profitability Mandiri-Outlook Muhammad-Ikhsan Log in with your social account Forgot Password ? The government will limit the increase of capital expenditure (capex) at state-owned enterprises (SOEs) to about 7 percent this year as part of an SOEs restructuring program, an advisor to the SOEs minister has said.Mohammad Ikhsan, an advisor to State-Owned Enterprises Minister Erick Thohir, said the growth of SOEs’ capex this year would be far lower than the average growth of 15 percent between 2012 and 2018.“In our new RPJMN [National Medium-Term Development Plan], the increase in capex for SOEs is limited to between 5 and 7 percent,” Muhammad said at the Mandiri Investasi Market Outlook presentation in Jakarta on March 5.SOEs nationwide are currently part of a restructuring program on improving profitability, as the increase in asset growth at SOEs is not proportional to their profit growth.Muhammad said the total assets of more than 140 SOEs almost … LOG INDon’t have an account? Register herelast_img read more

Decision will be made when Persaud returns – President

first_img…maintains he’s on vacation leave, not admin leaveCommander-in-Chief, President David Granger has revealed that the Administration would decide the next move as it relates to the suitability of Top Cop Seelall Persaud, to lead the Guyana Police Force.Police Commissioner Seelall PersaudPersaud was slated to return to work on November 24 after being on four months’ vacation leave, but was asked to remain on leave “in the interest of public” by Public Security Minister Khemraj Ramjattan.In a letter, the Minister instructed Persaud to proceed on “special leave” until further notice in the interest of the public, so as to allow for the continuation of initiatives and innovations being pursued by the Guyana Police Force’s temporary administration.That move was translated by social commentators as Persaud getting the boot following the recommendations of the Commission of Inquiry (CoI) into the alleged plot to assassinate President Granger.The President, however, on Wednesday said that Persaud has not been asked to proceed on administrative leave rather he was merely asked to use up his remaining annual leave. He noted that the coalition Government was not in favour of public servants accumulating leave which sometimes result in them requesting payment for that time.“Right now, there is nothing abnormal or irregular about Mr Seelall Persaud going on leave. The leave is due to him; he is not being sent on administrative leave; the leave is due to him and he should enjoy it,” he added.On March 29, Andriff Gillard reported to the Police that his friend and neighbour, Nizam Khan, had offered him $7 million to assassinate the President. He said the offer was made during a conversation between Khan and himself after he had approached Khan to borrow $6 million to purchase a property.Following the allegation, President Granger commissioned an inquiry to investigate how the Police had done their investigation of the allegation, and to make recommendations to address flaws and shortcomings of the Police Force.Retired Assistant Police Commissioner Paul Slowe headed the CoI. In his recommendations, Slowe suggested that disciplinary actions be taken against Police Commissioner Persaud and that he be made to resign and investigated for perjury.The Commission found that a proper investigation was not conducted into the allegation made by Gillard, owing to the interference of Persaud. Slowe reported that the response by the Police was conditioned by the fact that Imran Khan, brother of the accused, has a close relationship with Persaud and other senior ranks of the Police Force. In addition, the Commission found that Imran had considerable influence in the decisions of Persaud in relation to promotions and transfers, which ultimately resulted in the investigative ranks being apprehensive.“The Commission recommends that Commissioner Seelall Persaud should be made to resign his position as the Commissioner of Police for the Guyana Police Force, under such terms and conditions that His Excellency considers appropriate.Failing which, proceedings should be initiated in accordance with Article 225 of the Constitution of the Cooperative Republic of Guyana to have him removed from the office for misbehaviour,” the report stated.It was also recommended that Persaud be investigated for perjury since he told the CoI that he first knew about the allegation after 16:00h on March 29, in spite of Assistant Police Commissioner Clifton Hicken testifying that he informed Persaud of the allegation around 10:00h that morning.However, Ramjattan expressed the opinion that he was not in agreement with all of the recommendations of the report, and noted that before they were acted upon, they would have to be deliberated at Cabinet.last_img read more