The hike will be made known this week by the latest."Jakarta (ANTARA News) - Indonesian energy minister Jero Wacik said the government is still preparing a ministerial regulation as the legal umbrella for raising the subsidized fuel oil prices.
He said after meeting with visiting prime minister Peter Charles Paire O`Neill from Papua New Guinea here on Tuesday the regulation will have to be issued this week before the planned hike is implemented.
"The hike will be made known this week by the latest," he added.
He said the government would hold a limited cabinet meeting on Tuesday to discuss the fuel plan and "who would be assigned to announce it."
The House of Representatives (DPR) passed the draft 2013 revised approved budget on Monday which would be used as the basis for raising the fuel price.
He said administrative process still had to be done before the draft budget was put into a law in the next few days.
He said all the process however would not last no later than seven days. "It could be quicker," he added.
Jero said the state-owned oil and gas company PT Pertamina has already increased its stocks by 10 percent from the quota for the next week in anticipation of increasing demand before the hike was announced.
"We prepare an ample supply especially on the day it would be announced," he said.
He said police would also guard filling stations and arrest those seeking to hoard gasoline and diesel oil ahead of the announcement.
"I have asked the police to arrest them," he added.
The minister said that the government had also prepared compensation plan for the poor.
"We will closely monitor the distribution of the aid to assure that it reaches the target," he said.
Jero Wacik said he believed by raising the fuel price the country`s economy in 2013 and 2014 would be stable.
"Next year when the general elections take place the economy must be stable," he said.
(Reporting by Kelik Dewanto/H-YH/B003)
Editor: Priyambodo RH
Copyright © ANTARA 2013
