Govt to raise fuel prices ?as soon as possible?

The government plans to raise fuel prices ?as soon as possible? in a effort to cut fuel subsidies, the Coordinating Minister of Economy Aburizal Bakrie said Thursday.

The government would reduce the fuel subsidies in 2005 budget by up to Rp.50 trillion, Aburizal said.

He did not reveal when exactly the government will raise the fuel prices.

Several officials had previously said the size of fuel price increase could average about 30 percent. (amoros)