Govt to go ahead with fuel price increase plan

Minister of Mines and Energy Susilo Bambang Yudhoyono said on Monday that the government would go ahead with its plan to increase fuel prices starting in October this year.

Speaking at the opening of the Jakarta International Energy Conference (JIEC) on Monday night, Susilo Bambang said that the government would give subsidies for the poor to help them cope with the planned increase in oil prices.

But he refused to go into detail, and only said: "We will choose a way that most suitable for us."

The minister also said that the government through the JIEC would explain to investors about what opportunities in the mines and energy sector that are available for investors. The government, he said, expects to attract as many investors as possible. (*)