No Intention from Indonesia Govt to Raise Fuel Prices

Jakarta, Indonesia (News Today) - Coordinating Minister for Economic Affairs Hatta Radjasa said the government had no intention of raising fuel oil prices although the world crude price may exceed US$100 per barrel in 2011.

"We will certainly give a policy response if the crude price really surpasses that level. But we have no plans to raise fuel oil prices," he said at the presidential office here on Monday. He said while the world crude price was fluctuatiive the assumed Indonesian Crude Price (ICP) was always five dollars below the world price.

"We continue to believe that the assumed ICP of US$80 per barrel will be achieved," he said.

In 2011, he stated, the main focus of the government’s economic policies would be infrastructure and connectivity development to make economic activities more efficient.

In addition, the government would also pay more attention to the development of manufacturing industries to revive downstream industries so that Indonesia would no longer focus on raw marerial exports, he said. The agricultural sector meanwhile would also be developed to secure its foreign exchange contribution as well as food and energy resilience.

Source : kompas

Posted in: