BTB
The Indonesian military would soon sell all its shares in Mandala airline, in an effort to end involvement in business, a minister and a military spokesman said Tuesday.
“The shares will be sold, they will be offered to investors,” Defense Minister Juwono Sudarsono said at the State Palace after a cabinet meeting here.
Separately, military spokesman Brigadier General Bibit Santoso told Xinhua in telephone that the military would be free from business activities for the next two years.
“In two years the armed forces will be free from business, and the sale of the shares in the airline is aimed at bringing the military into professionalism,” he said.
In addition, he said that the price of the shares in the market has fallen.
Earlier, Commander of the Army Strategic Unit Lt. Gen. Hadi Waluyo said that the sale of the shares was planned to be completed by the end of February. But because of the long negotiation process, the target could not be met, he added.
He said the target must be reached within two years.
