Wednesday, 5 Dec 2012
Pertamina's Dividends and Performance Will Not be Compromised Despite Subsidy Credit

JAKARTA-The government believes Pertamina dividends and performance will not be compromised despite credit duty to disburse funds amounting to Rp 6 trillion to increase the quota of subsidized fuel as many as 1.2 million kiloliters in 2012. Coordinating Minister Hatta Rajasa said the government also believes the task of pouring bailouts to add to the quota of subsidized fuel budget also will not disturb dividend Pertamina. "It should not [disrupting the performance. He [Pertamina] requires discussion first. Included with the financial minister, "said his answers to questions from journalists at the Presidential Palace on Tuesday (4/12). Hatta said the use Pertamina bailouts undertaken by the government, given the budget to buy subsidized fuel quota compliance of the revised budget, and that will be done next year. "I'll talk about it with Minister. But that does not mean decrease in dividend. He [Pertamina] can borrow it first. Corporate mechanisms can he do. But that does not mean reducing the dividend, "said Hatta. In addition, Hatta also urged Pertamina plans to realize the application of information technology to control the consumption of subsidized fuel.

IT applications can save fuel subsidy of up to 1 million kiloliters per year, equivalent to Rp 10 trillion per year. The potential savings are worth the cost to be incurred to build the IT systems at fuel filling stations. "Investing is what the hell? With us save Rp 10 trillion has no meaning. Private small as AKR [PT Aneka Chemical Kingdom] only capable of, "said Minister, Tuesday (4/12). He explained through the system kebocorang subsidized fuel distribution can be reduced and the government will only pay the subsidy in accordance with the quotas agreed with the House. The government has announced plans to increase the quota of subsidized fuel as much as 1.2 million liters of consumption until the end of the quota is expected to exceed 44 million kiloliters of the government and the Parliament agreed.

On a separate occasion, Chairman of Golkar Party Bakrie urged the government to provide subsidies directly to the poor to subsidize such designation is not one that occurred during this time. "The policy of subsidy given on the product that is not true. These subsidies lead to increased fuel use and enjoyed only by those people who are not right, rich people, "said Aburizal when opening a public discussion about the dissolution of BP Migas in the Office of the DPP Golkar Party, Tuesday (4/12). According to Aburizal, the fuel subsidy should not be given to such products over the years, but given directly to poor people who deserve it. He said the fuel subsidy each year to reach an average of Rp170 trillion. If the subsidy is given directly to about 18 million poor people, he said, the subsidy of Rp170 trillion could be diverted to social welfare, health pendidikanmaupun.

Golkar Party presidential candidate also agreed that if there is a separation between the regulator and the operator in order to avoid conflicts of interest. Aburizal recognize the voices that suggested that the management of oil and gas returned to PT Pertamina. "However, if we are agreed between the regulator and the operators should be split then there should be a new entity," said Ical Bakrie is familiarly called. From Makassar, Head of Geology Ministry of Energy and Mineral Resources (ESDM) R Sukhyar proposed eastern Indonesia (KTI) still has oil and gas reserves are quite large. "So far, the government and investors simply focus on drilling in the western region of Indonesia, rarely touching EI," he said.

Sources: http://epaper.bisnis.com