Many people say that currently ‘cash is king,’ thus entrepreneurs should (only) prioritize really essential expenses.
Jakarta (ANTARA) - Tourism and Creative Economy Minister Sandiaga Uno has appealed to tourism and creative economy players to focus on carefully managing their spending budgets to anticipate the impact of the increase in subsidized fuel prices.

"It is important to save money," he remarked at “The Weekly Brief with Sandi Uno,” which was followed online from here on Monday.

In addition to saving money, it is advisable for tourism and creative industry actors to manage their cash flow wisely.

"Many people say that currently ‘cash is king,’ thus entrepreneurs should (only) prioritize really essential expenses," the minister added.

Currently, his ministry is carefully calculating the impact of the increase in fuel prices considering that creative industry players may be deeply affected since the price of their products may also climb due to the hike in the prices of the main materials of the products.

The increase in fuel prices will also raise the price of creative products by around 10–20 percent, the minister predicted.

Hence, he advised tourism and creative industry actors to diversify the materials for their creative products so that they can get the materials at more affordable prices and enjoy more reliable supply.

Furthermore, regarding the surge in land and sea transportation costs, if needed, the Tourism and Creative Economy Ministry plans to ask the Finance Ministry to provide social assistance for tourism and creative industry players whose income is below Rp3 million.

"We are committed to continuing to assist with all our might. We are confident we will be able to protect our colleagues (tourism and creative industry players) who are vulnerable (whose income is less than Rp3 million) and in need," Uno added.

The government announced on Saturday (September 3, 2022) that the price of subsidized Pertalite fuel has been revised from Rp7,650 per liter to Rp10 thousand per liter, while the price of subsidized diesel has been adjusted from Rp5,150 per liter to Rp6,800 per liter.

Meanwhile, the price of non-subsidized Pertamax fuel has been raised from Rp12,500 per liter to Rp14,500 per liter.

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Translator: Baqir Alatas, Uyu Liman
Editor: Rahmad Nasution
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