Don't Save Three Months DHE, Export Entrepreneurs Can Be Stopped

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The government through the Minister of Finance (Menkeu) Sri Mulyani has set the rules for placing Export Result Foreign Exchange (DHE) for at least three months in the country. The regulation is imposed on exporters with a minimum export value of 250,000 US dollars per document.

"It will take effect on August 1, 2023," he said in Jakarta, Friday, July 28.

It is known that this rule is intended for export products for mining, forestry, fisheries, and plantations. Furthermore, the amount of value placed is at least 30 percent on a special account.

In the regulation, business actors must have a giro account at financial service institutions that carry out foreign exchange transactions. The process of collecting DHE from the natural resource sector (SDA) will be supervised by Bank Indonesia (BI) and the Financial Services Authority (OJK).

The government itself has prepared a enforcement scheme through the Directorate General of Customs and Excise if it is found that there are exporters who do not comply with applicable regulations.

"Customs can suspend exports and other administrative sanctions," said Minister of Finance Sri Mulyani.

VOI noted that this rule is a follow-up to the revision of Government Regulation (PP) Number 1 of 2019 which contains export policies.

Meanwhile, the phenomenon of the disappearance of foreign exchange was first detected by Bank Indonesia (BI) as the country's monetary authority. Senior Deputy Governor of Bank Indonesia Destry Damayanti said that the increase in export value that occurred throughout the past year was not accompanied by the entry of foreign capital flows, especially dollars, significantly into the country.

"Indeed, our exports in 2022 are very high, 291 billion US dollars with our trade balance of around 55 billion. At that time there was a sense, why did these funds not enter our banks," said Destri in mid-January.