[POPULER MONEY] The quota for subsidized fuel is running low

1. The quota of subsidized fuel is running low, could there be a shortage of diesel and pertalite?

PT Pertamina Patra Niaga, Sub Holding Commercial & Trading PT Pertamina (Persero) recorded that the subsidized fuel quota was running low. This is due to the increase in subsidized fuel consumption in the first half of 2022.

Head Economist of Bank Permata, Josua Pardede, assessed that if the Pertalite quota was reduced, it would not be impossible for the subsidized fuel to run out. This will certainly lead to a shortage of Pertalite type fuel in the future.

“Pertamina’s efforts to use digital applications are a way to select anyone who is entitled to receive subsidized fuel. It’s just a matter of implementing the use of the application, which must now be prepared and executed properly,” said Josua in Jakarta JakartaTuesday (2/8/2022).

Josua assessed that in controlling fuel consumption, the quota system tends to be ineffective because it causes scarcity in various places and has a large potential for leakage. He said, through the quota system, people can afford to buy more Pertalite because they have greater purchasing power.

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2. Bio Farma Covid-19 Vaccine Ready to Launch, Erick Thohir: The name of the vaccine has been given by the President…

Minister of State-Owned Enterprises (BUMN) Erick Thohir said the Covid-19 vaccine made by Bio Farma would soon be launched to the public. In fact, President Joko Widodo has given a name to the vaccine made by this state-owned pharmaceutical company.

“The name of the vaccine has been given by the President, but I can’t answer yet. Because this is related to copyright and other things, so this must be checked first,” said Erick in Jakarta, Wednesday (3/8/2022).

According to Erick, his party is still waiting for the Emergency Use Authorization (UAE) for the Covid-19 vaccine.

“We are waiting, he said the EUA will be given next week or two weeks,” said Erick.

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3. When Erick Thohir compared the “swelling” of the Jakarta-Bandung high-speed rail project vs the Jakarta MRT…

Minister of State-Owned Enterprises (BUMN) Erick Thohir said the cost of the Jakarta Bandung Fast Train (KCJB) project could swell again in 2023 if construction continues to be delayed.

“The fast train is the same (as the Mass Rapid Transit / MRT Jakarta), if the fast train continues to be delayed, the construction price next year will be even more expensive. This means that it must be resolved immediately,” said Erick in Jakarta, Wednesday (3/8/2022).

The construction of the KCJB project is in the spotlight, because the project cost is estimated to be 1.176 billion US dollars or around Rp. 16.8 trillion. Moreover, in its development, the cost overrun or cost overrun is financed from other sources, namely loans to China.

“If you look at the structure, 75 percent of the fast trains are loans from Bank China, 25 percent are equity, of which Indonesia is 55 percent, and China is 45 percent. This means that the State Equity Participation/PMN that will be given is part of the equity, because the loan is added. So if you ask whether there is an investor in the high-speed train, yes, not yet, not even Garuda,” added Erick.

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