JAKARTA - The Indonesian Ministry of Finance has changed the policy of paying energy compensation funds from six months to three months (triwulants).
With this change, Pertamina's cash flow is believed to be stronger so that it can be more solid in maintaining national energy resilience and independence.
President Director of PT Pertamina (Persero) Nicke Widyawati expressed her high appreciation to the Indonesian Ministry of Finance for accelerating the faster energy compensation payment policy.
"With a faster compensation payment mechanism, Pertamina's cash flow will be healthier and stronger. We would like to thank the government, especially the Ministry of Finance and its staff for their full support for the company," Nicke told the media quoted on Tuesday, February 7.
Nicke added that Pertamina will continue to maintain national energy security amid global challenges and increasing energy needs.
"After the pandemic, when countries in the world experience a lot of scarcity and energy crises, Pertamina has succeeded in maintaining the availability and resilience of energy stocks that encourage national economic growth," he added.
During almost three years of the pandemic, said Nicke, Pertamina's performance continued to show a positive trend.
With healthy finances, Pertamina can continue to invest and finance national strategic projects in the energy sector so that it can provide a multiplier effect for national economic growth.
National energy security, continued Nicke, is getting stronger with the support of government policies that provide additional fuel and LPG subsidies and fuel compensation in the 2022 State Budget.
With additional subsidies, the increase in fuel and LPG prices is partly borne by the state.
In contrast to what happened in several countries where the increase in world oil and gas prices was entirely borne by the community in the form of a very high increase in fuel and gas prices.
"The fuel and LPG subsidies as well as fuel compensation become a very appropriate shock absorber, so that the inflation rate and economic growth can be maintained properly. People's purchasing power is also maintained so that national economic growth continues to be positive," said Nicke.
Pertamina also managed to control the distribution of subsidized fuel through the digitization of gas stations and the MyPertamina platform.
In 2022, the distribution of subsidized fuel can be controlled under the quota from the Government.
The provision of fuel and LPG for the entire community can be carried out properly, even for the construction of fuel 1 price has been achieved exceeding the target.
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