President: no fuel oil price, electricity rate hikes in 2008

President Susilo Bambang Yudhoyono said the government will not raise subsidized fuel oil prices and electricity rates in 2008 although the state budget was under great pressure. "My message is that we should not jump at the idea of raising the fuel oil prices and electricity rates because it is the people who will bear the consequences. Let`s instead think seriously of how to economize on our expenditures," Yudhoyono said here on Wednesday. He said although the 2008 state budget was under great pressure due to unfavorable world economic conditions, the fuel oil prices and electricity rates would not be raised as the government was more inclined to economize on and regulate consumption of subsidized fuel oil and electricity. . (http://www.antara.co.id/en/arc/2008/3/5/president-no-fuel-oil-price-electricity-rate-hikes-in-2008/)