TEMPO.CO, Jakarta - Minister of Energy and Mineral Resources Ignasius Jonan said his ministry will announce the gas price cuts for industries tomorrow, November 23.
"We will announce it at the Energy Ministry [building] tomorrow, Jonan said Tuesday, November 22, Bisnis Indonesia reported.
Jonan's deputy minister Arcandra Tahar said three sectors will be able to enjoy lower gas prices: petrochemical, fertilizer, and steel.
"We are looking at it from the multiplier effect; the [industries] with the most multiplier effects will be given the incentive first," Arcandra said.
According to him, the price cut is determined and calculated using a certain formula. He declined to give a detailed explanation of the formula but said that price evaluation procedures will be carried every month.