Fuel subsidy drops by Rp 1.51 trillion
Saturday, September 20 2003 - 02:12 AM WIB
The budgetary team of the House of Representatives (DPR) has agreed to reduce the fuel oil subsidy by Rp 1.51 trillion (US$ = Rp 8,450) to Rp 24.51 trillion from the projected Rp 26.02 trillion in the current year due to a drop in oil consumption during the first semester, Kompas reported on Saturday.
Speaking to the press on Friday, the Director General of State Budget of the Ministry of Finance Darmin Nasution said that the fuel consumption dropped to 28.6 million kiloliters from 30.1 million kiloliters estimated for the first semester.
Darmin said that the Rp 1.51 trillion resulting from the cut in the fuel subsidy would be used as a reserve to face the possible increase in the use of fuel during the second semester.
He said that the oil consumption was estimated to increase above the initial estimate during Lebaran and Christmas holidays. (*)