"It is likely (the budget fund) will be higher than that. The subsidy may come in the form of interest and infrastructures needed to limit the use of subsidized fuels and implement oil-to-gas conversion program," Finance Minister Agus Martowardojo said at his office here on Monday.
The minister said the existing budget fund was enough to carry out the initial phase of the conversion program, including construction of infrastructures for liquefied gas for vehicles (LGV) and compressed natural gas (CNG) programs and fuel gas subsidy.
"The fund of Rp965 billion is quite large for our needs. But we are prepared to increase it to ensure the success of the program," he said.
He said the extra fund for the program was likely to originate from bailout fund from state-owned companies and fiscal stimulus program using unspent budget fund.
"We are preparing extra fund for more specific program. The matter is still under discussion and will soon be decided," he said.
Meanwhile, the acting chief of the ministry`s fiscal policy board, Bambang Brodjonegoro, said a presidential regulation on the limitation of subsidized fuel consumption would soon be issued.
"It has been completed. It still needs improvements here and there. The improvements are needed to avoid misinterpretation of the presidential regulation," he said.(*)
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Editor: Jafar M Sidik
Copyright © ANTARA 2012
