Jokowi If Not ‘Insist’, We Only Have 9 Percent of Freeport Share

Jokowi If NotJAKARTA, KOMPAS.com – President Joko Widodo talks about the success of the government that forced PT Freeport Indonesia to divest or sell 51 percent of its shares gradually to Indonesia.

This was conveyed Jokowi during a speech at a national working meeting III Pro Jokowi (Projo) at Sports Mall, Kelapa Gading, Jakarta, Monday (4/9/2017).

Jokowi asserted, the success is none other than the insistent attitude of the Indonesian government during the negotiation process.

(read: Jokowi Asks Volunteers to Start Campaign for 2019 Presidential Election)

If the government does not insist, then Indonesia only has 9.36 percent stake in the company from the United States.

"Then Freeport, how many years we bought 9 percent just silent, this is 2.5 years negotiation, which six months back is intensive, it's a lot, yes, if negotiation is not insistent, yes 9% again," said Jokowi.

Jokowi also talks about State-Owned Enterprises (BUMN), PT Pertamina (Persero), which now succeeds to become the 100% holder of Mahakam Block in East Kalimantan.

(read: Agreed, 51 Percent of Freeport Shares Released to Indonesia)

Pertamina replaces the old operator, Inpex and Total E & P Indonesia.

"The period of 1 percent is not given, just silence for years Mahakam," said Jokowi was applauded by about a thousand volunteers who attended.

"Projo is also silent," he said sarcastically.(read: Sri Mulyani: Bargaining with Freeport Is Not Easy)

In general, Jokowi claims to have achieved many achievements of his government over the last three years.

He asked Projo to help disseminate the achievements to the community.

"Projo volunteers must convey things like this, do not let anyone claiming, others claim to be troublesome later." It should be delivered like this, "said Jokowi.

PT Freeport Indonesia obtained a business extension until 2041. This extension could be obtained after the mining giant agreed on four points of negotiations with the Indonesian government.
The four points are the first, the legal basis governing the government's relationship with Freeport Indonesia is IUPK, not a work contract (KK).

Secondly, the divestment or release of Freeport Indonesia shares is 51 percent for national ownership.

Third, Freeport Indonesia built a smelter for five years or maximum in October 2022.

Fourth, the stability of state revenue, namely the aggregate state revenue is greater than the acceptance through the COW so far.

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