No fuel prices, power rates hikes this year: President

Antara ,  Jakarta   |  Wed, 03/05/2008 6:49 PM  |  Headlines

President Susilo Bambang Yudhoyono said the government will not raise subsidized fuel prices and electricity rates in 2008 although the state budget was under great pressure

"My message is that we should not jump at the idea of raising the fuel prices and electricity rates because the people will bear the consequences. Let's instead think seriously of how to reduce our expenditures," Yudhoyono said Wednesday when observing a number of projects implemented under the National Program for People's Empowerment in West Java province.

Although the 2008 state budget was under great pressure due to unfavorable world economic conditions, the fuel prices and electricity rates would not be raised, he said.

"The retrenchment measures are currently still being discussed with the House of Representatives so that the state budget can be saved and we don't need to raise the fuel prices and electricity rates. We want the people to be protected," (***)

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