Indonesian presidential candidate Prabowo Subianto greets supporters while campaigning in Makassar, South Sulawesi province on June 17, 2014. He said is a session on June 20 that he would significantly reduce the cost on fuel subsidy if he were elected president. (Reuters Photo/Yusuf Ahmad)
[Updated at 9:12 p.m. on Friday, June 20, 2014]
Jakarta. Presidential candidate Prabowo Subianto said on Friday night that, if elected, his administration will cut the cost of fuel subsidy by around a half or two thirds within the space of three years.
In a special session devoted to the Indonesian Chamber of Commerce and Industry (Kadin), the country’s most powerful business lobby group, Prabowo said that his administration’s priority would be replacing the current universal subsidy policy to a more targeted subsidy.
“Our objective is to reduce the subsidy by a half or two thirds within three years,” said Prabowo. “And in the next four to five years, our goal is to keep the subsidy cost at minimum.”
The government a year ago raised subsidized fuel prices by an average 33 percent in a bid to rein in costs. Indonesia is set to spend Rp 350 trillion ($29 billion) in fuel subsidy this year, according to the revised state budget approved by the House of Representatives earlier this week.
Prabowo, a former general, is facing Jakarta Governor Joko Widodo in the July 9 presidential election.
In response to the high-profile issue related to the operation of Freeport Indonesia, he said that his administration will handle it rationally.
“We will handle the issue rationally, by putting forward national interest,” Prabowo said. “If we evaluate, and it’s very possible, that they can get the contract extension, then why not? As long as we can keep our national interest.”
Freeport Indonesia, which operates the world’s largest gold mine and the third-largest copper mine — in impoverished Papua — had sought for an extension to its contract that will end in 2021.
By Tito Summa Siahaan on 09:02 pm Jun 20, 2014
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