PLN to set aside Rp 15 trillion to pay debt to Pertamina
Monday, September 22 2008 - 01:52 AM WIB
State-owned electricity company PT Perusahaan Listrik Negara (PLN) will allocate about Rp 15 trillion (1US$=9,300) next month to partly finance its debt to state-owned oil and gas company Pertamina, Investor Daily reported on Monday.
PLN?s vice president director Rudiantara said in Jakarta last week that the state electricity company has owed a total of Rp 46 trillion to Pertamina for the late payment of fuel purchases from the oil and gas company.
?The payment will be made next month,? he said, adding that PLN was forced to delay the payment of the fuel it bought from Pertamina because a larger part of its cash flow had been used to support the 10,000-MW power generation program.
He said that the funds for the debt payment would come from the company?s internal funds and from the disbursement of subsidy from the government. (*)