Indonesia: Sale of shares in beer company PT Delta Djakarta Beer to fund students

The Jakarta administration announced it will use the money raised form the sale of its shares in beer company PT Delta Djakarta to provide free schooling for elementary and junior high school students next year, The Jakarta Post cited Tempo Interaktif reported on December 14.

Jakarta sold its 4.2 million shares in PT Delta because the stock has showed little growth over the last five years.

"Money from the sale, about Rp 138 billion (US$14 million), will be used to cover the Rp 104 billion funding shortage for the (free education) program," the chairman of the City Council's welfare commission, Dani Anwar, said.

16 December, 2005