Pertamina Receives BBM Compensation Fund Payment From Government Of IDR 132.44 Trillion

Pertamina (Photo: dock. Antara)

PT Pertamina (Persero) appreciates the Government's support through the Ministry of Finance, the Ministry of SOEs and the Ministry of Energy and Mineral Resources so that the payment of fuel oil compensation funds (BBM) during 2023 was IDR 132.44 trillion (including VAT) or IDR 119.31 trillion (excluding VAT).

The payment of Rp132.44 trillion is payment for the 2023 TW I-IIII Compensation Fund of Rp82.73 trillion, in 2022 of Rp49.14 trillion and 2021 of Rp569 billion.

The funds are compensation for the difference in the selling price of formulas and retail selling prices at gas stations for distribution activities of certain types of diesel fuel (JBT) and Pertalite Special Assignment Fuel Types (JBKP) whose values have been reviewed by the Inspectorate of the Ministry of Finance of the Republic of Indonesia (Itjen Kemenkeu).

He said Pertamina really appreciated the government's efforts through the Indonesian Ministry of Finance which had accelerated the payment of fuel compensation funds that had been distributed by Pertamina to the third quarter of 2023.

According to him, the compensation fund has entered the company's treasury and this is a form of the Government's full support for Pertamina to maintain the sustainability of subsidized fuel operational services.

"In addition, supporting capital work and improving the company's financial ratios," said Pertamina President Director Nicke Widyawati in a written statement, Thursday, January 4.

Nicke added that his appreciation was also conveyed for the government's full support for Pertamina in maintaining the sustainability of fuel distribution, including running the One Price Fuel program.

Pertamina also invites the public to appreciate the government which continues to protect purchasing power by providing subsidized fuel, namely JBT Solar and JBKP Pertalite, by consuming fuel wisely and starting to consume fuel that is more environmentally friendly as a form of community support to the Government and a form of public concern for the environment by helping reduce air pollution levels.

Pertamina, continued Nicke, will continue to strive to make subsidized fuel optimally consumed by those who are entitled. These efforts include the use of information technology to monitor the purchase of subsidized fuel at gas stations in real time to ensure that consumers who buy are eligible people.

First, the program to strengthen digitalization facilities and facilities at gas stations. As a result, more and more gas stations are connected to Pertamina's digitalization system, making monitoring and supervision easier.

Then second, Pertamina developed an alert system that sends exception signals that are monitored directly by the Pertamina command center and followed up by a team in the field. This exception signal sends unreasonable transaction data, including diesel charging above 200 liters for one motorized vehicle on the same day, subsidized fuel filling by not including vehicle registration numbers, and so on. Since the implementation of thisception signal from August 1, 2022 to December 31, 2023, Pertamina has succeeded in reducing the risk of subsidized fuel abuse of 200 million US dollars or around Rp. 3.04 trillion.

Third, Pertamina continues to increase cooperation with Law Enforcement Officials (APH) to increase supervision and prosecution of subsidized fuel abuse activities that are not in accordance with their designation.

Fourth, Pertamina encourages people to register the Proper Subsidy Program via the website to identify consumers who are entitled to and monitor consumption of JBT Solar and JBKP Pertalite.

In addition, Pertamina also continues to make operational cost efficiency, both at the Holding and Subholding levels. As of November 2023, the realization of the cost efficiency program at Pertamina Group has reached US$984.17 million or around Rp. 14.99 trillion.