Government Prepares Implementation of Foreign Exchange Rules for Export Results

Jakarta - Coordinating Minister for Economic Affairs Airlangga Hartarto said that the government is preparing to implement the rules for export earnings from 1 June. This was conveyed by Airlangga at the Presidential Palace Complex, Jakarta, Thursday, May 21.

At the same time, CPO, coal, and ferro alloy exports will be included in the reporting mechanism through PT Danantara Sumber Daya Indonesia or DSI. Airlangga said he reported this to President Prabowo along with the Minister of Trade, Governor of Bank Indonesia, and the Minister of Finance.

There are two main agendas discussed, namely the implementation of export earnings and export mechanisms of three commodities through DSI. Export earnings or DHE are funds from the sale of exports that come from abroad. This policy is important because it concerns foreign exchange flows and economic stability.

Airlangga said that technical rules were still being prepared. The regulation includes rules from the Ministry of Trade, Bank Indonesia, and the Ministry of Finance. According to Airlangga, all regulatory instruments will be completed before June 1. Airlangga asked business actors not to worry.

He emphasized that exports were still carried out by companies that had been operating in the sector. What changed, according to him, was the reporting. In every export, the company will submit a report to Danantara. The government will see its implementation for three months to perfect the system.

He also said that commodity prices would be benchmarked, i.e. compared to reference prices. However, the reference still refers to the reference prices of each commodity, both coal, CPO, and nickel.