Prabowo blocks foreign sale of strategic state firms, targets 250
He also said more than 1,000 state firms are inefficient and wants to cut the total to about 250 companies.
President Prabowo Subianto said he once blocked efforts to sell a number of strategic state-owned enterprises to foreign parties, including PT PAL Indonesia, PT Pindad, PT Dirgantara Indonesia, and PT Garuda Indonesia. He made the remarks at the inauguration of a dam in Lombok Barat, Nusa Tenggara Barat, on Friday, 10 July 2026. Prabowo said the companies had at one point been slated for sale or shut down because they were seen as unprofitable, but would now be revived. He cited PT PAL, which he said is now capable of building warships and submarines. At the same time, Prabowo said the SOE structure is too bloated: there are more than 1,000 entities, including subsidiaries and grandchild companies, and some continue to lose money. He therefore plans to close some SOEs and leave about 250 companies.