Government postpones energy security fund
Tuesday, January 5 2016 - 01:20 AM WIB
The government has decided to postpone the implementation of the much-criticized energy security fund as it seeks to make better preparations including the necessary regulatory basis, Minister of Energy and Mineral Resources Sudirman Said stated in a statement.
He said Monday that discussion about the policy would be resumed when the government prepares proposed revision to the 2016 state budget, in the middle of the year.
Sudirman earlier said that the energy security fund policy would be applied starting early this year. Financing for the fund will come from fee collected from the sales of fuel products including automotive diesel and the Premium brand gasoline. Under the plan, a fee of Rp 300 per liter would be applied on automotive diesel, and Rp 200 per liter on Premium gasoline.
The energy security fund will among other things be used to finance new and renewable energy projects in the country.
Editing by Reiner Simanjuntak