Coal Exports Generate Foreign Exchange of Nearly US$15 Billion in Six Months

JAKARTA - Coal exports generated foreign exchange of around US$14 billion to US$15 billion in the first half. In the same period, non-tax state revenues from the energy and mineral resources sector have exceeded 60 percent of the target.

Energy and Mineral Resources Minister Bahlil Lahadalia conveyed this achievement to President Prabowo Subianto in a meeting after the Plenary Cabinet Meeting at the Presidential Palace Complex, Jakarta, Monday (20/7).

"Our foreign exchange from coal exports has reached approximately 14 to 15 billion US dollars," said Bahlil.

According to Bahlil, the non-tax state revenue or PNBP of the mineral and coal sector for the first six months has reached more than 60 percent. However, Bahlil did not mention the nominal value or PNBP target throughout the year.

He said the government was maintaining a balance between supply and demand to maintain commodity prices amid global turmoil.

Bahlil assessed that the increase in state revenues and export foreign exchange was an indication of the improvement in the coal sector's performance. The government also continues to encourage the downstream processing of minerals and coal to increase added value in the country.