Measuring Pertamina Durability
BUMNINC.COM I Indonesian President Joko Widodo (Jokowi) asked State-Owned Enterprises (BUMN) engaged in the energy sector such as PT Pertamina (Persero) and PT PLN (Persero) to carry out efficiency. The Head of State considered that it was important to do so to respond to the number of energy subsidies that the government had to disburse.
As is known, the realization of energy subsidies throughout 2021 will reach more than IDR131 trillion. Meanwhile, in 2022, it is estimated that this subsidy will reach Rp134 trillion. The realization of fuel subsidies in 2021 will reach IDR83.7 trillion.
This subsidy figure will certainly burden the state’s finances if various improvement steps are not taken, both in terms of efficiency and effectiveness in the distribution of energy subsidies.
Research conducted by the Government Subsidy Initiatives on the distribution of 3 kg LPG distribution in Indonesia shows that the realization is not right on target. There are almost 26 million poor people in Indonesia as the target of 3 kg LPG, but in its implementation, almost 70 percent of LPG consumption is carried out by the upper middle class.
What caused it? Mostly because the LPG distribution model is open so that all people can buy the 3 kg LPG. This certainly cannot be blamed solely on Pertamina as the operator of LPG distribution, because the policy for open or closed distribution will also be determined by the regulator.
Apart from LPG, Pertamina is currently also dealing with the management of subsidized fuel which continues to swell. The selling price of subsidized fuel such as diesel and Pertalite is far below its economic price. Even the President Director of Pertamina is worried that this year’s fuel subsidy quota will exceed the set target.
For diesel, for example, the quota target of 14 million kiloliters is expected to reach 17 million kiloliters. Likewise, pertalite from the 2022 target of 23 million kiloliters is expected to reach 28 million kiloliters by the end of this year.
