Jakarta, June 28 -- The Indonesian government has pledged that its plan to reduce the number of state-owned enterprises (SOEs) to between 250 and 300 entities will not lead to layoffs of employees from dissolved companies.

The commitment was reiterated after President Prabowo Subianto reaffirmed his SOE restructuring target during the closing of the Indonesian Convention of Science, Technology, and Industry in Jakarta on Sunday, according to an official statement.

"Out of more than 1,000 SOEs, we have closed over 200 entities. Our ultimate objective is to shrink the number to around 300," the president remarked.

Prabowo then asked SOE Regulatory Agency (BP BUMN) Head Dony Oskaria to confirm the target. Oskaria responded that the govern...