Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Sorry, But this May Hurt
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Sorry, But this May Hurt

Indonesian Cabinet Manager Apologizes for Imminent and Inevitable Increase in Fuel Prices


Bali News: Sorry, But this May Hurt
Click Image to Enlarge

(2/24/2012)

Indonesia’s Minister of Energy and Mineral Resources Jero Wacik warned everyone what’s coming, but, to his credit, he has also apologized in advance. Quoted by Kompas.com, Wacik said, “Apologies to the people of Indonesia because the price of fuel will increase.”

The Minister’s apology was made to a group of reporters while Wacik was accompanying President Susilo Bambang Yudhoyono at a session to brief and instruct Indonesian diplomats of the Ministry of Foreign Affairs on Thursday, February 23, 2012.

Wacik told the press that the government is still in the process of calculating the size of the hike in fuel prices. “We are in the process of calculating what’s best for the people. The Country will be efficient. There are a couple of government projects which will be postponed,” explained the Bali-born Minister.

He continued, saying the Government would soon discuss the size of the hike in fuel costs. Plans to increase fuel costs, however, may be hampered by Section 7 of the 2012 Law on the State Budget, which forbids increases in fuel costs. In theory, before any increase in fuel costs can take place the House of Representatives (DPR) and the Executive Branch must revoke Section 7 to clear the way for price increases.

Protests Ahead?

Separately, the Coordinating Minister for Politics, Law and Security Djoko Suyanto said that protests and demonstrations by those opposed to the government’s plans to increase fuel costs are not forbidden. “Protests are allowed, what’s important is that any protests be non-violent; as long as protests are proportional, do no damage and do not disturb public order,” explained Djoko.

Both Wacik and Djoko offered assurances that the government will provide compensations to the public directly affected by any increase in fuel costs.

President Yudhoyono has repeatedly underlined that the decision to increase the subsidized price for fuel cannot be separated from the current world economic crisis. In the midst of the ongoing economic disruption in the Euro zone, there is also rising political tension in the Middle East involving Iran, the U.S. and Europe. The decision by Iran to halt oil sales to all European nations has resulted in an increase in global fuel prices.

“The price of our crude oil increased quickly over the past few weeks. This has had an extraordinary effect on the economies of many countries, including Indonesia,” explained the Indonesian President as he opened a cabinet meeting on Wednesday, February 22, 2012.

On Wednesday, the price of crude oil in Singapore for delivery in April hit US$106 per barrel. At the same time, the price of crude (ICP) reached US$110 in Indonesia, a figure well above the assumed cost of US$90 per barrel contained in State Budget (APBN) in 2012.

The President admitted that the increase in crude oil prices has delivered a significant blow to the Indonesia economy. Responding to the current situation, Yudhoyono said, “We must respond and develop a number of options and policies aimed at saving our economy, the State Budget (APBN) and the fiscal condition.”

Faced with the certainty of an increase in Indonesian fuel prices, the President said he will continue to urge vehicles be converted to liquefied gas consumption.

The government earlier announced that subsidies on fuel would end on April 1, 2012. The three options before the Government include increasing prices of subsidized fuel at the pumps, converting use from gasoline to natural gas, and compelling private vehicle to only use non-subsidized Pertamax fuel.
 


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Murder at Bali Emerald Villas in Sanur, Bali
Long-Time Bali Resident Bob Ellis Murdered in What Police Believe was Murder-for-Hire Scheme Orchestrated by His Wife, Noor Ellis
(10/24/2014)
Fighting Malaria in Bali
Denpasar Health Officials Undertake Educative Steps and Fogging to Prevent Upswing in Dengue Fever Cases
(10/24/2014)
November Fuel Price Hike Increasingly Certain
Kompas.com Reports Premium Fuel Prices to Increase 46% on November 1, 2104
(10/24/2014)
Harmony Inside
A solo exhibition by I Made Wiradana, "Harmony Inside" November 20 - December 18, 2014 at Ganesha Gallery – Four Seasons Resort Jimbaran
(10/24/2014)
Living in an Age of Contagion
Bali Isolates Patient Suspected of Contracting MERS-CoV
(10/24/2014)
Denpasar to Dili Daily
Garuda Starts Daily Flights between Bali and Timor Leste
(10/24/2014)
Picking Fave – orites
Archipelago International Opens 5th Favehotel in Bali
(10/24/2014)
Bali and Beyond: Reading on Borneo
Bookshelf: Looking for Borneo – Insights into the Endless Beauty of the World’s Third Largest Island
(10/24/2014)
Adolescent Desires
Australian Philip Robert Grandfield Deported to Australia After Six Years in Prison on Pedophilia Conviction
(10/24/2014)
Change Has Gotta Come
Putting Bali’s Illegal Moneychangers Out of Business
(10/24/2014)
It’s Beginning to Look a Lotte Like Christmas
BIWA Christmas Bazaar at Lottte Mart Saturday, November 16, 2014
(10/24/2014)
Heinz's 100 Varieties of Indonesian Cuisine
Bookshelf: A New Approach to Indonesian Cooking by Heinz von Holzen
(10/20/2014)
All [News]!