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Ministry Cuts Gas Revenue Target

Translator

Editor

28 June 2016 12:12 WIB

TEMPO.CO, Jakarta-The Ministry of Energy and Mineral Resources plans to lower this year's non tax revenue target from the gas sector. The decision was made based on technical policies related to a discounted price of natural gas in the upstream sector.



"The state revenue is being cut to push for economic growth," Oil and Gas director general I Gusti Nyoman Wiratmaja said Monday, June 27, 2016.

The target cut is expected at 55 percent. This means that the initial revenue target—set at Rp18.3 trillion in the 2016 State Budget—will be lowered to Rp8.2 trillion.

"It's quite a huge cut," Wiratmaja said, also he admitted that an exact figure is still being discussed and no decision has been made regarding the revision amount.

Presidential Regulation No.40/2016 governs the discounts for natural gas prices. The regulation is being prepared to lower prices at the downstream sector thus expanding the use of gas domestically.

Wiratmaja said that Energy Minister Sudirman Said has approved the bill last week.

ROBBY IRFANY


Economy


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