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View all search resultsFuel subsidy cut in June
Newly installed Finance Minister Chatib Basri says the government has resolvedto increase the subsidized fuel price in June
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Newly installed Finance Minister Chatib Basri says the government has resolved to increase the subsidized fuel price in June.
"We have requested the increase in June but the specific date is the President to announce," he said on Wednesday, as quoted by Kompas.com.
The government proposes to increase the price of subsidized premium gasoline by Rp 2,000 (20 US cents) to Rp 6,500 per liter and the price of subsidized diesel fuel by Rp 1,000 to Rp 5,500.
Chatib claims the new price will suppress the deficit in the state budget to 2.48 percent, lower that earlier predictions of 3.83 percent and give the government more room to breathe.
The central Government had allocated Rp 12.5 trillion for infrastructure development, education and poverty alleviation programs.(fan/dic)
