Subsidy Potentially Over Quota, Ministry Of Finance Asks Pertamina Cs To Control Volume

Illustration (Photo: Doc. Antara)

The Ministry of Finance (Kemenkeu) found a potential excess of subsidies/energy compensation quotas from those targeted this year. This was conveyed by the Director General (Dirjen) of the Ministry of Finance's Budget Isa Rachmatarwata in today's APBN press conference.

"We continue to pay close attention to this because there is potential for it (the risk of connecting the subsidy quota/compensation)," he said on Friday, August 11.

According to Isa, his party will embrace a number of State-Owned Enterprises (BUMN) that receive mandatory distribution of subsidies to pay attention to the amount of production distributed to the public.

"The Ministry of Finance will cooperate with business entities, Pertamina and PLN, to be able to control the volume of fuel, LPG, and electricity subsidized for consumption," he said.

However, Sri Mulyani's subordinates ensured that this condition would not put excessive pressure on fiscal instruments because budget planning disparities were higher than the current bandrol.

"The impact on the state budget so far will still be neutral because the prices of fuel and raw materials to produce electricity (coal) this year are lower than those estimated in the preparation of the state budget," he said.

Citing the latest report from the Ministry of Finance in July 2023, it is known that the value of subsidies and fuel compensation has exceeded Rp59.7 trillion for 8.67 kilo liters. This means that the APBN must spend Rp8.5 trillion every month to support community mobility.

Then, the value of subsidies and electricity compensation was recorded at IDR 48.5 trillion for 39.2 million customers. Meanwhile, 3 Kg of LPG subsidies are said to have reached IDR 37.7 trillion for 4 million metric tons of gas.

"We want to invite all parties to keep it safe so that consumption of subsidized goods can be controlled together," said Isa.