03.08.2015 - Indonesia: The petroleum-fund concept confuses fuel price-floating
Minister of Energy and Mineral Resources Sudirman Said suddenly came out last week with a strange petroleum-fund concept to defend the government’s inconsistency in the implementation of its fuel price-floating policy. The price-floating policy was launched earlier this year to gradually phase out the wasteful spending of taxpayer money on energy subsidies. The main objectives of oil funds, which in most countries have become giant sovereign wealth funds, usually include the preservation of macroeconomic stability, ensuring fiscal-tax discipline, decreasing the dependence on future oil revenues and stimulating the development of renewable energy and providing inter-generational equality by retaining oil revenues for future generations...............................................Full Article: Source
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