Ministry Of Finance: Pertamina And PLN Compensation Payment Bills Worth IDR 53.8 Trillion

JAKARTA - The Ministry of Finance has received bills for payment of energy compensation by PT Pertamina (Persero) and PT PLN (Persero) worth IDR 53.8 trillion.

The Director General of Budget at the Ministry of Finance Isa Rachmatarwata explained that the bill was a compensation value in the first quarter of 2024.

"For now, the total bill that has been entered for the first quarter of 2024 from PLN and Pertamina is IDR 53.8 trillion," Isa said in an online press conference on the KiTa State Budget monitored in Jakarta, quoted from Antara, Friday, June 28.

However, continued Isa, this value is still in the process of being audited by the government internal control apparatus (APIP) from the Inspectorate General of the Ministry of Finance and the Financial and Development Supervisory Agency (BPKP) which is expected to be completed in the next few weeks.

In addition, compensation payments are made every three months. Thus, the Ministry of Finance still has not paid the bills received in the first quarter of 2024.

"So, for 2024, we have not paid the bill in the first quarter because the process is ongoing," he said.

Meanwhile, the energy compensation bill for the second quarter of 2024 will only be received by the Ministry of Finance at the end of July or early August 2024.

Previously, the Ministry of Finance had paid off energy compensation bills for Pertamina and PLN in the 2023 period with a total value of IDR 201 trillion.

To note, Pertamina's compensation fund is to cover the difference between the selling price of the formula and the retail selling price at gas stations for distribution activities of certain types of fuel (JBT) Solar and the type of special fuel assignment (JBKP) Pertalite.

Meanwhile, PLN compensation for the difference in electricity rates is several groups with the cost of providing electricity (BPP).

In addition to compensation, the Ministry of Finance also distributes energy subsidies with a realization value of Rp56.9 trillion until May 31, 2024.

The subsidy is distributed for fuel oil (BBM), 3 kilograms of LPG, and subsidized electricity.

The realization of fuel subsidies was recorded at 5.57 million kiloliters (KL), down 1 percent when compared to last year's realization of 5.63 million KL. The budget used for fuel subsidies reached Rp6.6 trillion.

Meanwhile, 3 kilograms of LPG subsidies were disbursed amounting to IDR 26.8 trillion and distributed 2.7 million metric tons, growing 1.9 percent compared to last year's 2.6 million metric tons.

The realization of electricity subsidies reached IDR 23.5 trillion and was received by 40.4 million subscribers, 3.1 percent higher than last year's realization of 39.2 million subscribers.