Pertamina raised the price of 12-kg LPG in canister by more than 60 percent on January 1 , 2014 drawing wide public protest.
"I hope the process of reviewing the decision continues to be based on the law. I ask Pertamina and related ministers that the process of reviewing would be wrapped up in one day, within 24 hours," Yudhoyono told reporters at the Jakartas Halim Perdanakusuma airport.
The president met the press after a two-hour limited cabinet meeting at the airport upon his arrival from a working visit to Surabaya on Sunday.
He said he has told the related officials to discuss and review the decision on Sunday night that on Monday a new decision could be announced after consultation with the Supreme Audit Agency (BPK).
"Tonight they would work and tomorrow they would have consultation with BPK and later on Monday Pertamina could announce (a new decision) to the public," he said.
He said consultation with BPK is necessary as the decision to raise the LPG price is based on the audit by BPK, which found a big loss and therefore, suggesting a price hike.
BPK said Pertamina suffered a loss of Rp7.7 trillion a year in the LPG business as it has sold 12-kg LPG in canister, which is not subsidized, below its production cost.
The government provides subsidy only on LPG in smaller canister of 3 kg.
The president said the government, in principle, wants that Pertamina and the state would not suffer such big losses every year.
"However, the purchasing power of the people should be taken into account in making a decision to raise the price," he said.
(AS/a014)
(SYS/H-ASG/A014)
Editor: Suryanto
Copyright © ANTARA 2014
