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Business Trillion Loss Rp6 Pertamina fuel Subsidized

Jakarta (ANTARA) - PT Pertamina (Persero) revealed, the business of distribution of fuel oil (BBM) subsidy in 2009 suffered a loss to Rp6 trillion.

Pertamina President Karen Agustiawan in a meeting with the House Commission VII here on Monday, said the biggest losses occurred in the first half of 2009 and reached Rp5, 9 trillion.

"In the first half of 2009 it assumed the alpha (distribution costs and margins distribution of subsidized fuel) used was eight percent," he said.

The rest, he added, occurred in the second half of 2009 which alphanya set at Rp536 per liter. "Alpha Rp536 per liter was not applied retroactively at the beginning of the year," he said.

Karen continued, the budget amendment in 2010, it proposed a scale alpha of Rp656 per liter.

According to him, the amount of alpha is already including a margin of Rp100 per liter.

Quantities of alpha is also the assumption by Pertamina in 2010 net profit of Rp25 trillion and Indonesian oil price 77 U.S. dollars per barrel.