PLN records Rp5.62 trillion net loss in 2002
Wednesday, February 5 2003 - 10:04 AM WIB
State electricity firm PLN recorded an estimated Rp5.62 trillion (US$=Rp8,870) in net loss in 2002, and expects the amount to rise to Rp8.96 trillion this year, the company said Wednesday.
Due to this year?s electricity tariff hike, its revenue from electricity sales is expected to amount to Rp52.21 trillion in 2003, from last year?s Rp39.9 trillion, the company said in a written statement to the parliament.
The government had initially planned to increase electricity tariffs by an average of 6 percent last month, but following nationwide street protests it reduced the bills to an average of 3 percent.
PLN said however it had recorded Rp180.18 billion in net profit in 2001. (godang)