Luhut's Request To Airlangga About The Momentum Of Deregulation: Must Move Fast

Chairman of the National Economic Council (DEN) Luhut Binsar Pandjaitan said that deregulation is an important step and an excellent momentum to improve the current condition of the national economy.

He added that his party had provided input to President Prabowo Subianto on the policy of import tariffs for the United States, especially in terms of deregulation.

"In the context of this (US import) tariff, deregulation must be carried out and this is an excellent momentum actually to improve our economy. Actually, we have to see the positives of this tariff in the current economic situation," he said at the launch of the Padi Kapas Indonesia Foundation, at the Indonesia Stock Exchange (IDX), Jakarta, Monday, July 28.

According to him, this can be an opportunity to make improvements and can even re-adopt the spirit of Presidential Instruction No. 4 of 1985 concerning Wisdom on the Smooth Flow of Goods to Support Economic Activities.

Luhut emphasized that the approach in this policy should be carried out up and down, not down, because from his experience while serving as Coordinating Minister, he showed that the approach from below is often hampered by the many interests, including the potential for corruption that arises due to the quota system.

"So that's actually what needs to be cleaned up, so if that's done I think President Prabowo has decided what we will do with the execution, I think it will have a very good economic impact for Indonesia in the future," he explained.

He added that President Prabowo had decided to carry out the deregulation and had officially announced it.

However, Luhut said that harmonization from various regulations is still needed so that this policy can run effectively.

"As I said earlier, there is nothing impossible to achieve 7-8 percent 2029-2030. If this is regulated, this is momentum for all of us, especially as in the previous Instruction 4 of 1985 by the government of Pak Harto, and that is what makes our economy better," he said.

Luhut emphasized that this momentum must be utilized, and hoped that the Coordinating Ministry for Economic Affairs would immediately follow up on the President's orders.

"The president has ordered, we hope that it can be executed by the Ministry of Economy soon," he said.