Wednesday, 19 February 2020

State Minister for Cooperatives to Distribute Rp 90 Billion as Compensation for the Oil Price Hike

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  • TEMPO Interactive, Jakarta:State Minister for Cooperatives, Small and Medium Enterprises Ali Marwan Hanan said his ministry would distribute Rp 90 billion as compensation for the oil price hike that comes into effect next week. Ali pointed out that this is much more than the Rp 56 billion distributed last year. These funds would be distributed to 650 cooperatives and 200 micro finance institutions; each would receive Rp 200 million. “The funds will be distributed through working groups in regencies and this will involve local officials, including those at the regency level, department heads, and chiefs of cooperatives,” the Minister explained to the press today (9/1). According to him, the mechanism for these working groups has been running well and will be coordinated by the central government. “We will distribute the funds to those groups that really need it. These working groups will have an input to determine how the funds are distributed,” he said. As previously reported, during a ministerial meeting held on Tuesday (8/1), it was decided that Rp 2.85 trillion would be distributed as compensation for the oil price hike. (Istiqomatul Hayati)