Pertamina to contribute only Rp 460 billion in dividend

Members of the budget commission at the House of Representatives have questioned the allocated contribution from state oil and gas company Pertamina of only Rp 460 billion in dividend for year 2002, which they consider to be too small for a giant company like Pertamina, Kompas reported on Thursday.

In a hearing with Finance Minister Boediono on Wednesday, legislators from the commission - FX Soemitro (KKI), Amhadi Noor Supit (Golkar), and commission chairman Benny Pasaribu (PDI Perjuangan) -- contended that the budgeted contribution from Pertamina was too small considering that Pertamina booked an operating profit of Rp 11.5 trillion for year 2000.

However, the director general of financial institutions at the Finance Ministry, Darmin Nasution, contended that not all of Pertamina's operating profit of Rp 11.5 trillion belonged to Pertamina as 60 percent of it, or Rp 6.9 trillion, belonged to the government's income portion that was managed by Pertamina.

"What Pertamina really got as profit was Rp 4.6 trillion. Out of that profit, 10 percent should be contributed to the government as dividend, and that means Rp 460 billion. That's the base for our calculation for next year," Nasution said. (*)