Government to increase fuel prices by 12% in October

Minister of Finance Bambang Sudibyo said on Monday that the government would increase fuel price by an average 12 percent in October this year.

Speaking at a meeting with the House of Representative commission IX on budget and finance, Bambang said that the government would increase the price again in April 2001, but had yet to decide on the size of the increase.

He said that the fuel prices had to be increased in a bid to lower the country's budget deficit.

The Government initially planned to raise fuel price by an average 12 percent in April this year, but the delayed it due to widespread public protest. (*)