Jakarta (ANTARA) - Minister of State-owned Enterprises Erick Thohir stated that the government is keen to maintain the growth of the people's economy by not increasing the price of fuel in the near future.

The rising rice prices in several regions, which increase the people's burden, is one of the reasons that the government decided to retain the current fuel price, he explained.

"We retain the current fuel (price) to ensure the people's economy and Indonesia's economy keep growing, and the people's burden will not increase," Thohir stated here on Monday.

The minister affirmed that the government is toiling to maintain economic balance to ensure the residents' purchasing power is not affected by the ongoing economic uncertainty.

"We should ensure that residents in the lowest economic level are not affected by it. We are trying to balance it and are convinced that our inflation and economic growth will be under control," Thohir affirmed.

However, he admitted that adjustments to the state budget are required to hold the current fuel price until June 2024.

"Yes, (budget) adjustment is a certainty, but as long as all ministries cooperate to implement policies that will benefit the people, we must not look at its profits or losses. We should prioritize maintaining Indonesia's economic stability," the minister remarked.

Related news: President ensures fuel prices will not increase in near future

Meanwhile, President Joko Widodo (Jokowi), before departing for Australia to attend the ASEAN-Australia Special Summit on Monday, confirmed that the price of fuel oil (BBM) would not increase in the near future.

"It won't go up," President Jokowi stated when asked about the possibility of an increase in fuel prices.

Coordinating Minister of Economic Affairs Airlangga Hartarto on February 26 also affirmed that apart from the fuel prices, the electricity rate will not increase until June 2024.

Hartarto stated that an additional budget should be disbursed to state-owned oil company Pertamina and electricity company PT PLN to allow the prices to stand at the current rate.

Related news: No fuel price hike in near term: Minister Hartarto

Related news: Govt targets opening 100 one-price fuel distribution agents in 2024

Translator: Maria Cicilia, Nabil Ihsan
Editor: Yuni Arisandy Sinaga
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