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Indonesia to pay fuel subsidies to poorest JAKARTA - Indonesia is to pay the equivalent of $10 a month to about 15.5m impoverished households for three months in an effort to soften the political impact of a fuel price rise expected in early October. The move, which officials said might become the foundation of a social security system in the world’s fourth largest nation, is thought to be unprecedented for Indonesia.

Anti-poverty efforts in the archipelago have historically taken the form of subsidies guaranteeing cheap prices for commodities such as fuel and rice or micro-credit and employment schemes. The move comes as Jakarta prepares to begin increasing fuel prices as early as October 1 by what officials say will be “at least” 40-50 per cent this year to reduce a fuel subsidies bill expected to cost the government up to 10bn Euro this year.

Officials stressed on Monday that neither the timing nor the amount of any increase had been firmly decided, although a senior minister said President Susilo Bambang Yudhoyono had told ministers to be prepared for a price rise in “early October”. The officials said no decision had been taken on whether the cash payments scheme would be repeated after the end of December. Sofyan Djalil, information minister, said some cabinet members thought “a social security payment like that ... is a good idea”.

Jakarta is already facing criticism that the compensation scheme could turn into a target for Indonesia’s notoriously corruption-ridden bureaucracy.


Related blog entries (category 'Economy') Related blog entries (category 'Economy'):
12 September 2005 · Indonesia says to hike fuel prices in early October
09 September 2005 · Oil smuggling losses IDR8.8 tln annually
07 September 2005 · India and Indonesia react to oil price rises
05 September 2005 · Jakarta workers protest fuel price rise
31 August 2005 · SBY: Indonesia to wait until after October to raise fuel prices


Posted in Economy @ 13 September 2005 10:13 CET by Jeroen · 'Blog' RSS feed · permalink





Jeroen
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User icon of Jeroen
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Fuel scarcity worsens before price hikes

Gasoline and diesel shortages worsened across Indonesia as the government's scheduled price increase on Oct. 1 draws near, Jakarta Post reported on Tuesday. Filling stations were packed with long lines of vehicles, while police officers desperately tried to track down on and nab people thought to be hoarding fuel until the price goes up, according to the Jakarta Post.




Jantje
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I'm glad to have an inlaw visitor dirumah. He can fill up my tank and jerrycan tomorrow at the gas station. This will take him at least 2 hours because of the kilometer queue. This since Monday morning. Emoticon: Puh!



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