Pertamina To End Loss-Making LPG Sales By 2016
State-owned energy firm Pertamina plans to raise the non-subsidized liquefied petroleum gas (LPG) price gradually by 2016, ending years of loss-making business due to political interference in pricing, a company official said.
Early this year, Pertamina backed down from its plan to stop the losses by raising the price of non-subsidized LPG by 68 percent, after intervention by the government.Pertamina instead reduced the price hike to just 17 percent.
Note: Reuters has not verified this story and does not vouch for its accuracy.
(Compiled by Jakarta Newsroom)