JAKARTA - Indonesian President Joko Widodo summoned the ministers of the Advanced Indonesia Cabinet at the Jakarta Presidential Palace to discuss the sustainability of the policy of Certain Natural Gas Prices (HGBT).
A number of ministers who were seen attending the meeting were Coordinating Minister for the Economy Airlangga Hartarto, Minister of Industry Agus Gumiwang Kartasasmita, Minister of Energy and Mineral Resources Arifin Tasrif, and Deputy Minister of Finance Suahasil Nazara.
"The gas price meeting," said Coordinating Minister for the Economy Airlangga Hartarto as quoted by ANTARA, Monday, July 8.
Previously, the Ministry of Energy and Mineral Resources (ESDM) would evaluate the HGBT policy.
"We evaluate this July-August as a whole to be submitted to the President. Later it will be decided by the President," said the Coordinator for the Preparation of the ESDM Ministry's Oil and Gas Program, Rizal Fajar Muttaqin.
The evaluation is the main goal of looking at the state revenue side.
According to Rizal, the benefits received by the industry from HGBT adjustments are not comparable to the budget that has been disbursed by the Ministry of Finance.
The Ministry of Energy and Mineral Resources noted that the implementation of certain gas price policies had an impact on reducing state revenues by Rp29.39 trillion in the 2021-2022 period.
The government has specifically implemented a 6 US dollars HGBT policy per MMBTU since 2020, for seven industrial groups, namely the fertilizer industry, petrochemicals, oleochemicals, steel, ceramics, glass glasses, and rubber gloves.
Based on the Decree of the Minister of Energy and Mineral Resources of the Republic of Indonesia Number 91.K/MG.01/MEM.M/2023 concerning Certain Natural Gas Users and Certain Natural Gas Prices in the Industrial Sector, HGBT will end on December 31, 2024.
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif last May stated that the HGBT policy or low gas prices below 6 US dollars per MMBTU for seven industrial groups will continue.
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Meanwhile, Minister of Industry Agus Gumiwang Kartasasmita assessed that the expansion of HGBT for all industrial sectors does not burden the state budget and reduce state revenues because the gas demand for the industry is only 30 percent of the total national gas supply.
Therefore, the Minister of Industry asked the HGBT Program to be expanded to all 24 sub-sectors of the manufacturing industry.
The HGBT program, which has been running since 2020, said Agus, has a triple impact on the industry, both investment, export, and employment.
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