TEMPO.CO, Jakarta-In a bid to address economic slowdown in the country, the government announced the third economic policy package on Wednesday, October 7. The third package includes a decrease in fuel, electricity and gas prices; wide access to micro-loans and land permit simplification for investments.

In the third package, the government decided to reduce prices of 12 kilogram LPG canister, non-subsidized fuels Pertamax and Pertalite. The government also reduced subsidized diesel fuel price, locally known as Solar, by Rp 200 per liter to Rp 6,700, as well as that of non-subsidized diesel fuel price within three days. However, the price of subsidized fuel, locally known as Premium, remains at Rp 7,400 per liter in Java, Madura and Bali, and Rp 7,300 in other regions starting from October to December 2015.

Furthermore, the price of gas supplied by new gas fields for the fertilizer industry was set at US$ 7 MMBTU. Meanwhile, the gas price for other industries will be adjusted with their capabilities to pay for the gas. The new price will be in effect since January 1, 2016.

The government has also decreased the electricity base price for class three and class for customers by Rp 12 – Rp 13 per kWH. The state electricity company will apply a discount of 30 percent for electricity consumption from 11:00 p.m. to 08:00 a.m. The policy is expected to be in effect this week. In addition, the government has facilitated labor intensive and low competitive industries with an incentive to pay their electricity bills in installment.

ALI HIDAYAT