Not Worried About Fuel Prices Due to Iran-US War, Minister Bahlil Focuses on Increasing Nickel Prices

The government’s plans to increase state revenues are once again in the spotlight. This time, the Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has revealed discussions on raising the reference mineral price (HPM) for nickel commodities. The policy is described as a strategic step to optimise state income from the mineral sector, which is considered not yet maximal. Moreover, Bahlil emphasised that the plan is not without basis. He stated that this policy stems from direct instructions from President Prabowo Subianto. According to him, the current government is being urged to seek new sources of income, particularly from sectors that have not previously provided fair contributions to the state. “It is very likely that the HPM for nickel will be raised,” he said in a statement uploaded to the Presidential Secretariat’s YouTube channel on Friday (27/3/2026). This statement also affirms the direction of the government’s policies moving forward, especially in strengthening the state’s position in managing natural resources. With this plan to raise the HPM for nickel, the government hopes to increase state revenues while ensuring that mineral management is conducted more fairly and sustainably. Bahlil has not detailed the extent of the HPM increase for nickel. Technical explanations have not yet been provided. He stressed that policies in the energy and natural resources sector must prioritise state interests. Natural resources are viewed as strategic national assets. “The President has instructed me on how to pay attention to the state’s interests, with priorities above everything. And we must protect our natural resources; these natural resources are state assets,” said Bahlil.