PGN expects lower profit<\/p>\n
JAKARTA (JP): State-owned gas company PT Perusahaan Gas Negara
\n(PGN) estimates a 29 percent decrease in its net profits to Rp
\n287 billion (US$31.9 million) this year from Rp 407 billion in
\n1999.<\/p>\n
PGN president Qoyum Tjandranegara said on Monday that the
\ndecrease was caused by loan repayments and an increase in the
\npurchasing price of gas.<\/p>\n
However, he said the company's contribution to the state
\ncoffers in the form of taxes or dividends would increase by 14
\npercent to Rp 312.7 billion this year from Rp 274 billion in the
\nprevious year.<\/p>\n
The company has sold 548 million cubic feet a day this year,
\nwith a value of almost Rp 2 trillion ($222.2 million), or up 8.7
\npercent from the previous year, Qoyum said in a hearing with the
\nHouse of Representatives Commission VIII for environmental,
\nscience and technology affairs.<\/p>\n
Qoyum said the company was undergoing a project to add about
\n430 million cubic feet of gas to PT Caltex Pacific Indonesia. The
\nadditional volume was expected to give PGN a net profit of Rp 488
\nbillion in 2002, he said. (tnt)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pgn-expects-lower-profit-1447893297",
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"sponsor": "Okusi Associates",
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