26 Feb '11, 12am

Indonesia may delay plan to cap fuel subsidies - Straits Times

JAKARTA - THE Indonesian government is leaning towards delaying a plan to limit fuel subsidies from April, as it seeks to put a dampener on rising costs for its population of 237 million. The plan was to ban private vehicles in the Greater Jakarta area from using cheap fuel starting from April 1, and to scale up the scheme across the rest of the country by 2014. The latest move will help address one of the country's most pressing problems - inflation - for the short term and could ease market jitters over rising costs for now. In a research note, Bank of America Merrill Lynch said the cost of extending the subsidies would be 'small', with rising oil prices posing a bigger threat to the country's budget. Currently, the national budget deficit is projected at around 45 trillion rupiah (S$6.5 billion) this year. With the ongoing turmoil in the Arab world threatening to push u...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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