"About 10 state-owned companies are ready to go public, pending the approval of the privatisation committee," secretary Muhammad Said Didu, Bisnis Indonesia reported.

The daily cited Didu as saying that the ministry was in the process of establishing a privatisation committee to handle the initial public offering process.

Among the companies to be offered were Bank Tabungan Negara, Indonesia Power, Jasa Marga, Wijaya Karya, Krakatau Steel subsidiary KHI Pipe Industry, Pembangkitan Jawa Bali, Commet Plus and Bank Syariah Mandiri.

Minister for State Enterprises Sugiharto said in January that the government planned to sell stakes in 20 unnamed state companies in the second quarter of this year. The pledge was not however fulfilled.

The minister said at the time that sectors to be opened for privatisation may include oil and gas, electricity and infrastructure.