Bakrie argued the government's need to gradually increase fuel prices to keep fuel subsidies from busting its budget, while bringing the cost of fuel closer to international levels. Shortly after being named to the cabinet of Susilo Bambang Yudhoyono, Bakrie set in motion a new government policy calling for a 3% reduction of Indonesians living in poverty, by reducing fuel subsidies in exchange for financial support to approximately 6 million people. The appointment by President Susilo Bambang Yudhoyono was initially viewed with some reservation.
In 2004 Bakrie retired from PT Bakrie & Brothers Tbk before being named Coordinating Minister for Economy. As a member of the Golkar party Bakrie was running to become Golkar's candidate for the presidency in 2004.Ĭoordinating Minister for Economy
Public offices įrom 1991 to 1995 Bakrie served two consecutive terms as the President of the ASEAN Business Forum and two consecutive terms from 1994 to 2004 as the President of the KADIN.
In 1998 the Asian economic crisis challenged Bakrie's control of the conglomerate, from which he emerged victorious after a successful refinancing process in 2000. Aburizal Bakrie, the eldest of four siblings was the chairman of the family enterprise from 1999 to 2004. The Bakrie Group conducts business in agriculture, real estate, trade, shipping, banking, insurance, media, manufacturing, construction, and mining. In 1972 Bakrie joined PT Bakrie & Brothers Tbk known today as the Bakrie Group, the conglomerate founded by his late father Achmad Bakrie, which prospered much like the rest of the Indonesian economy during the Soeharto presidency. Bakrie attended the Bandung Institute of Technology where he obtained a degree in electrical engineering in 1973. Bakrie is the eldest of four, he has two brothers, Nirwan Bakrie and Indra Usmansyah Bakrie, and a sister Roosniah Odi Bakrie. His father is Achmad Bakrie, the founder of Bakrie & Brothers and Bakrie Group.
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