JAKARTA, 19th November, 2015 (WAM) — The Indonesian government will privatize a number of state companies in 2016 in a bid to improve their performance and to increase the peoples share ownership, Indonesian news agency ANTARA News has reported.

“In 2016, we will soon propose privatisation of at least eight state companies through initial public offerings, right issues or involvement of strategic investors,” said Aloysius K. Ro, a deputy at the office of the State Minister for State Enterprises.

Details of privatisation proposal for the eight state companies have been submitted to the Committee for Privatization Team, which is chaired by Coordinating Minister for Economy, Darmin Nasution, for approval.

If the Committee of Privatization Team gave the green light the next step is to seek approval from the Commission VI of the Parliament, Aloysius said on Wednesday.