The House of Representatives of Indonesia has approved the Government’s plan to cut diesel subsidy by 50 percent to 500 RP (0.35 USD) per litre next year, on the back of expectations that crude oil prices will remain low in the aftermath of the COVID-19 pandemic.
Jakarta (VNA) – The House of Representatives ofIndonesia has approved the Government’s plan to cut diesel subsidy by 50percent to 500 RP (0.35 USD) per litre next year, on the back of expectations that crude oil prices willremain low in the aftermath of the COVID-19 pandemic.
According to the Indonesian Ministry of Energy and MineralResources, the IndonesianCrude Price (ICP) is projected to hover between 42 USD and 45USD per barrel in 2021, lower than the 2019 ICP average of 63 USD perbarrel.
Speaking at ameeting on June 29, Minister of Energy and Mineral Resources Arifin Tasrif saidthe lower house also gave its nod to a plan to increase the quota for liquefiedpetroleum gas (LPG) while maintaining the quota for subsidised fuel in the2021 draft state budget (RAPBN).
The Cabinet andthe House are currently drafting the 2021 state budget, withPresident Joko Widodo scheduled to announce the finalised RAPBNduring the state of the nation address in August.
Alloysius JokoPurwanto, an energy economist at the Economic Research Institute for ASEANand East Asia (ERIA), estimated that slashing the diesel subsidy byhalf could save the government about 12.4 trillion RP./.
Indonesian President Joko Widodo has ordered the Health Ministry to immediately disburse the 75 trillion rupiah (5.26 billion USD) budget earmarked to tackle the COVID-19 pandemic.
A state of emergency over land and forest fires was declared in Central Kalimantan province of Indonesia on June 30, following the finding of over 700 hotspots and wildfires in some local areas.
Indonesia’s Jakarta Governor Anies Baswedan on July 1 announced that the capital is extending its transitional travel restrictions in the city by 14 days and tightening supervision of traditional markets and train services.
Indonesia is now an upper-middle income country, an upgrade from its previous status as lower-middle income, according to the World Bank’s latest country classifications by income level published on July 1.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative image (Photo: Reuters) 
