During the meeting held in Jakarta, Wednesday, between the House’s Commission VII and the Energy and Mineral Resources Ministry, a consensus was also reached on Indonesian crude price (ICP) to be priced at US$58-63 per barrel, oil production (lifting) at 755 thousand barrels per day, natural gas production (lifting) at 1,191 million barrels of oil equivalent per day, diesel oil subsidy (gasoil 48) at Rp1,500 per liter, electricity subsidy at Rp62.21 trillion, and oil and gas cost recovery at Rp8-10 trillion.
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The Energy and Mineral Resources Ministry had stated on Thursday that the rise in the volume of subsidized LPG for three-kg cylinders to 7.5 million metric tons was part of the government's endeavors to boost the economy of people from the middle-to-low income bracket.
Moreover, the price of imported LPG this year almost halved in comparison with the previous year.
The basic assumptions agreed upon at the working meeting between the government and House of Representatives will be brought to the DPR budgetary committee for endorsement. The House will pass the draft 2020 state budget into law at its plenary meeting.
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