PAM Jaya's Status Change, Step to Expand Service Reach
Reported by Fakhrizal Fakhri | Translated by
Jakarta City Council Deputy Chairman, Basri Baco, assessed the plan to change the status of PAM Jaya from a Regional Public Company (Perumda) to a Regional Limited Liability Company (Perseroda) is a strategic step in improving the quality of clean water services for residents.
It's time for PAM Jaya to improve its service quality
He believes it's time for PAM Jaya to go public. This will hopefully allow the company to be managed more professionally and modernly, and expand its service reach.
"It's time for PAM Jaya to improve its service quality. An IPO could be a way for the company to become more professional, bigger, and better," he said, Monday (8/25).
Market Digitalization Eases Transactions and Enhances SecurityHowever, Baco emphasized that PAM Jaya retains the majority of shares. This is crucial to ensure that control of the company remains in the hands of the Jakarta Provincial Government.
"Don't let Jakarta's water to be managed entirely by private parties as happened before," he added.
He added that the change in status to a limited liability company (Perseroda) is also expected to attract more investment. The fresh funds are needed to replace aging pipes and expand the distribution network so that all Jakarta residents can be served.
"PAM Jaya requires significant funding. Relying solely on the regional budget is certainly insufficient. Private investment could be a solution to improve services to residents," he stated.
