Jakarta – Indonesia's State Logistics Agency, Bulog, won't be releasing in February price controls it maintains over nine basic goods, including sugar, cooking oil, and wheat flour, Bulog President Beddu Amang said Monday.

As part of the revised terms of Indonesia's $43 billion assistance package from the International Monetary Fund, Bulog was supposed to stop subsidizing these commodities, as well as certain types of fuel oils.

Amang stated Monday, however, that surging inflation in Indonesia currently, coupled with a menacing drought, has made such a freeing up of prices impossible. He added that the IMF was informed of the decision and understood it.

"It is impossible for us to let these prices all go up at once, and we have to keep the prices within the people's ability to buy," Amang said. "The IMF understands our problem."

Under the revised IMF terms, Indonesia was supposed to have done away with price controls on all nine basic goods, excluding rice, on Feb. 1.