www.xinhuanet.com
XINHUA online
CHINA VIEW
VIEW CHINA
 Breaking News IAEA board starts debate on Iran nuclear issue    Israeli troops complete pullout from four W. Bank settlements    US, Iraqi troops clash with militants in western Baghdad    Indonesian girl dies of suspected bird flu    Koizumi reelected for third term as Japanese PM    M5.9 quake rocks northern Japan    
Home  
China  
World  
Business  
Technology  
Opinion  
Culture/Edu  
Sports  
Entertainment  
Life/Health  
Travel  
Weather  
RSS  
  About China
  Map
  History
  Constitution
  CPC & Other Parties
  State Organs
  Local Leadership
  White Papers
  Statistics
  Major Projects
  English Websites
  BizChina
- Conferences & Exhibitions
- Investment
- Bidding
- Enterprises
- Policy update
- Technological & Economic Development Zones
Online marketplace of Manufacturers & Wholesalers
   News Photos Voice People BizChina Feature About us   
Indonesia to raise oil price by 30-60%
www.chinaview.cn 2005-09-21 20:15:13

    JAKARTA, Sept. 21 (Xinhuanet) -- Indonesia will increase oil price from Oct. 1 at a range of 30 to 60 percent, in an effort to adjusts piraling global oil price and to defend the country's currency from US dollar, Indonesian Vice President Jusuf Kalla said here Wednesday.

    "He (vice president) said the rise could be more than that (30 percent), may be 50 percent or 60 percent," Chairman of Indonesian Church Union Andreas Yuwangoe told reporters after meeting with the vice president at the vice presidential office here.

    Kalla said the subsidy for the oil sector had been mounted to 130 trillion rupiah (13 billion US dollar), according to Yuwangoe.

    Indonesia's rupiah weakened to a four year low against US dollar last week due to the rise of global oil price.

    Security Minister Widodo AS said to anticipate the possible reaction of the hike, the government is preparing for the acts.

    "We are aware that the decision (to increase prices) will create a reaction from the people in the form of protests," he told reporters after a Cabinet meeting.

    The government has pledged to provide direct cash payments to millions of poor families as compensation of the plan.

    The hike of oil price is a sensitive political issue in the country with over 220 million people. Riots caused by the price hike in 1998 contributed to the collapse of former President Suharto. Enditem

  Related Story
Copyright ©2003 Xinhua News Agency. All rights reserved.
Reproduction in whole or in part without permission is prohibited.