Thursday, 28 March 2013

Economy News Headlines - Yahoo! News: Indonesia should ban all private cars from using subsidized fuel: adviser

Economy News Headlines - Yahoo! News
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Indonesia should ban all private cars from using subsidized fuel: adviser
Mar 29th 2013, 04:03

Founder and chairman CT Corp Tanjung smiles as his sits in front of his portrait at a book shop during his book launch in JakartaBy Randy Fabi and Janeman Latul TANJUNG BENOA, Indonesia (Reuters) - Indonesia should slap a nationwide ban on the use of subsidized fuel by the country's 11 million private cars, a move that would save the government $8.6 billion this year and erase a widening fiscal deficit, a presidential adviser said. President Susilo Bambang Yudhoyono is struggling to find a way to deal with runaway fuel subsidy costs that now account for more than 30 percent of state spending and are draining funds that should be used for much-need infrastructure in Southeast Asia's largest economy. ...


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