Government Issues Third Economic Policy Package

TEMPO.CO, Jakarta-The government issues the third economic policy package with emphasis on a range of sectors, expected to touch the real sectors.

“This time the government added one more [policy], that is reducing costs," said Economic Minister Darmin Nasution to the media at the Presidential Office on Wednesday, October 7.

Nasution added that ”two main points will be conveyed further by the Minister of Energy and Mineral Resources and Minister of Agrarian and Spatial Planning."

Policy in the field of energy, according to Nasution covers oil fuel (BBM), gas and electricity tariffs for industry.

Minister of Energy and Mineral Resources Sudirman Said said price aviation fuel (Avtur), 12 kg-canister LPG, Pertamax and Pertalite effectively down since October 1, 2015.

The price of diesel fuel is down by Rp200 per liter, so retail price is now Rp6,700 per liter.

Premium fuel prices is unchanged at Rp7,400 per liter for Java, Madura and Bali, and Rp7,300 for the rest of the country.

The price of gas for industry will be set according to the purchasing power of the fertilizer industry which is equal to 7 US dollars per MMBTU.

While the price of gas for other industries such as petrochemical, ceramics will be reduced in accordance with the ability of their respective industries.

Gas price reduction is made possible by increasing efficiency in the gas distribution system as well as a reduction in non-tax state revenue or gas.

Decline in gas prices for industry will be effective January 1, 2016.

Meanwhile, the price of electricity, electricity customers I (3) and I (4) will be decreased by Rp12-Rp13 per kwh following the drop in oil prices.

While in the land sector, the government has simplified the process of licensing, extension and simplification of licensing procedures for investors who apply for a permit for the right to utilize.

Cabinet Secretary Pramono Agung on the occasion said that the policy measures are taken, then the government undertake structural reforms and also promotes efficiency in government bureaucracy.

The announcement of a package of measures was followed by the announcement of a policy issued by the Financial Services Authority and Bank Indonesia.

ANTARA