The government helps Pertamina – MedanBusiness

MedanBisnis – Jakarta. PT Pertamina (Persero) is rumored to be
free up interests in some of its badets.
This news is also controversial in front of a thousand workers
in the United Workers' Federation (FSPPB) to take measures
demo to reject the plan.

Pertamina's finances are known to experience difficulties because in the midst of the high exchange rate of the US dollar, world oil prices are also rising. This is what makes the participation of this BUMN part of its participation rights

. She is also recognized by the minister responsible for economic affairs, Darmin Nasution. Nevertheless, he claimed that the government will help Pertamina. "Done, but the government will not let go," he told the Coordinating Ministry of Economic Affairs, Jakarta, Sunday (22/7)
Darmin said that it disrupts Pertamina's finances also because the price of fuel continues to hold. He says the government has prepared something to help fund Pertamina. But he always keeps a secret. "We will help, so we do not need to announce is the way," he said. "Because the government actually has relatively high crude oil prices, it's also an increase in revenue that we can conclude with," added Darmin.

Minister of Social Affairs Rini Soemarno added that the government as the majority shareholder continues to encourage the improvement of the financial performance and sustainability of Pertamina in the future .
According to Rini, the action plan proposed to the government as shareholder is part of the business plan to improve the performance of Pertamina's business portfolio in the future.
In a letter to Pertamina, Rini stated that there was no sale of badets or sale of badets, but that Pertamina was requested to keep the upstream strategic badets by becoming a controller.

Former Secretary of the Ministry of State Enterprises Didi said that the sale of participation rights by Pertamina is deemed inappropriate. "It's a short-term cash solution, but it's used to sell the rights, to slam the oil, which means sell the potential in the long run, my term, the rice is exhausting but the house sells, it does not match the problem, "he said.

According to him, the problems of Pertamina are caused by the burden of the mission of the government not to raise high quality fuel and diesel.
The badignment must not increase the price increase. On the other hand, the rupiah exchange rate is also weakening against the US dollar. "The burden therefore causes cash flow difficulties in Pertamina," said Said Didu

. . The amount of the grant is still not able to ease the burden of Pertamina. In fact, even for the premium government does not provide grants to Pertamina. "The price of diesel is now Rp 8,000-8,350 / liter, sold only Rp5,500 / liter, more subsidized at Rp 6000 / liter.So there is Rp 2,350 Pertamina position.This would be trillion," he said.

For this, said Said Didu, the government should be able to provide additional subsidies to Pertamina to cover the losses related to the commission of premium and diesel fuel. "So the win-win is, I think, the government needs to subsidize more and discuss the revised budget."
Energy and Mineral Resources (ESDM) claimed that PT Pertamina (Persero) will not sell badets but relate to cooperation in the management of holdings.
General Manager of Oil and Gas at the Ministry of Energy and Mineral Resources Djoko Siswanto Pertamina is a state-owned company, with several badets mentioned, among others, the refineries of Balikpapan and Cilacap. "This is not an badet sold, the badet has a state.Thus Pertamina, for example (Block) Mahakam, he pays rent to the state because his badets have a state."

Djoko said that Pertamina's sharing plan could have a positive impact because Pertamina does not need to pay the internal cash pocket in the management of the block of operation. "Pertamina calls this an badet, but in fact, it has a trump card of the state.So, the term share, operation, even money if the shares share, risk sharing, there is an investment to go in. So look for an operating partner – it's just upstream, "he said. (dtf)