Jakarta –
Pertamina’s cash flow until March 2022 was negative US$ 2.44 billion. By the end of 2022, the deficit is estimated to increase to US$ 12.98 billion.
SOE Minister Erick Thohir explained that the reason for the deficit was because world oil prices rose, but were resold at low prices.
“Buying it is expensive and we sell it cheap. It means that if you buy a lot, you sell cheap, there will be a deficit,” explained Erick after attending the Appreciation Night for the Indonesian Men’s and Women’s Basketball Teams in Hanoi Vietnam, at Plaza Mandiri, Jakarta, Thursday (2/6/2022) .
Despite the deficit, Erick emphasized that Pertamina’s fuel prices would not increase again.
“According to the President’s directive, the price of fuel, which is subsidized for the people who cannot afford it, for those who can afford it like Pertamax, has gone up,” he explained.
According to him, the government always comes to provide support to the community, including this fuel issue.
Previously, Finance Minister Sri Mulyani Indrawati said the deficit occurred because when world crude oil prices rose, Pertamina did not directly increase domestic fuel prices.
Until now, Pertamina still bears the wide difference between the retail selling price (HJE) and the economic price of fuel. This is because the energy SOEs have not received additional subsidy budget injections and compensation funds from the government.
“Pertamina’s operating cash flow since January has been constantly negative because Pertamina has to bear the difference (price), this has caused Pertamina’s financial condition to decline,” Sri Mulyani explained, Thursday (19/5/2022).
(hns / hns)
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