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Minister: 'Fuel price hike depends on cash compensation' JAKARTA - The government will raise the price of subsidized fuel oil after the House of Representatives (DPR) endorses cash compensation for the poor, Finance Minister Chatib Basri said. "The subsidized fuel price will be raised if the compensatory funds are available," he said at the parliament building here on Monday.

Therefore, he added the subsidized fuel price will be raised after the government and the House have completed their deliberation on the draft revision of the 2013 state budget in mid June.

"The cash compensation can be given only after a draft revision of the state budget is endorsed one month after being proposed," he said. But he stopped short of revealing when exactly the fuel price will be raised, saying this is the authority of the President.

Meanwhile, National Development Planning Minister Armida Alisjahbana who is also head of the National Development Planning Agency (Bappenas) expressed hope the deliberation on the draft revision of the state budget will be completed on June 17, 2013 as scheduled so as to give certainty about the government`s plan to raise the subsidized fuel prices.

"If everything goes as scheduled (the fuel oil price hike) can be done. When exactly it will be raised is the authority of the President," he said. President Susilo Bambang Yudhoyono has said that any increase in subsidized fuel prices will depend on the House`s approval of cash compensation for the poor.

The government has proposed Rp12.5 trillion in funds to speed up and expand social security programs in the draft revision of the 2013 state budget. The funds will be used to compensate the poor for subsidized fuel price hike. About Rp4.3 trillion of the funds will be used for subsidized rice for the poor, and Rp7.5 trillion for poor students` scholarships.


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Posted in General @ 27 May 2013 22:54 CET by Blog Bot · 'Blog' RSS feed · permalink






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