Indonesia to Have Oil Fund for Energy Security
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Kamis, 1 Januari 1970 07:00 WIB
TEMPO.CO, Jakarta - President Joko "Jokowi" Widodo said that the government plans to apply the funds (oil fund) to maintain energy security in the future.
"It is necessary for us to think about oil fund for the sake of our future energy security," the president said Monday, February 29, at the Ministry of Energy, Jakarta.
According to Jokowi, oil fund is also important to build and develop areas surrounding an oil and gas exploitation site. About how the oil fund mechanism will be, he told reporters to ask the Minister of Energy and Mineral Resources, Sudirman Said.
Sudirman said that what the President meant about an oil fund is a budget to maintain oil reserves and stocks. The details and mechanism of this oil fund is currently being studied. Sudirman ensured that the funds will be derived from the state budget, and not from oil fuel purchases made by the people.
The government plans to start collecting the oil fund in the 2016 state budget amendment. "Hopefully through the amended state budget we can start setting aside the money for oil fund, including the budget needed to buy strategic reserves," said Sudirman.
The minister also said that President Widodo has ordered the Ministry of Energy to submit a proposal of what should be done about the oil fund later.
AMIRULLAH
