The Ministry of Energy and Mineral Resources (ESDM) stated that gas prices could drop to US$ 3.82 per MMBtu if the state did not take non-tax state revenues (PNBP) and income taxes (PPh) from gas trading. Malaysia has done this so that gas prices can come down to the consumer level.
The Directorate-General for Oil and Gas at the Ministry of Energy and Mineral Resources, I Gusti Nyoman Wiratmaja Puja, explained that there are two types of gas prices, namely the share of the revenue for the Cooperation Contract Contractors (KKKS) and the share for the state.
For the KKKS part, we must respect the applicable contract. According to him, the most flexible to be reduced is the share for the state. Namely, from PPh and PNBP, they only ask for approval from the Coordinating Ministry for the Economy.
This method can reduce the gas price which is currently US$ 10 per MMBTU for end users. However, state revenues can also drop drastically. Malaysia has used that method, not taking part of the state. If the government does not take PNBP, the price of piped gas upstream could be US$ 5.01 per MMBtu.
But the state lost revenues of up to US$ 544 million or Rp. 7 per year (exchange rate of Rp. 13,000 per US dollar). If the state does not take all of the state's share including PPh, the gas price upstream will be US$ 3.82 per MMBtu. However, the government must lose US$ 1.26 billion or around Rp. 16.4 trillion per year. But there is another way, namely to reduce transmission and distribution costs by US$ 2.4 per MMBtu.
Kontan, Page-14, Tuesday, Oct 25, 2016
No comments:
Post a Comment