Indonesia Labour Group Urges State Bailout for Troubled Textile Giant Sritex

TEXTILE INDUSTRY - JAKARTA. A major labour group in Indonesia has called on the government to bail out troubled textile giant Sritex, after President Prabowo Subianto ordered his ministers to save the firm from bankruptcy.

Prabowo, who took office last week, has ordered his cabinet to find solutions for Sritex quickly, after a court last week accepted a petition by one of its trade partners over unpaid debt, which has put the firm, which employs about 50,000 people, on the brink of bankruptcy.