This Is A Leak Of 13 Points Of Revision Of PP 1 Of 2019 Concerning Export Result Foreign Exchange

Illustration (Photo: Doc. Antara)

Coordinating Minister for the Economy Airlangga Hartarto emphasized that the government is still finalizing the revision of Government Regulation Number 1 of 2019 concerning Export Result Foreign Exchange (DHE) which is expected to be a solution to strengthen foreign exchange (Valas) in the country.

According to Airlangga, the regulation update is an effort to maintain the stability of the rupiah exchange rate and inflation control measures caused by imports.

"In this case, liquidity is certainly important," he said through a virtual channel in the Kick Off of the 2023 National Food Inflation Control Movement (GNPIP), Sunday, March 5.

Airlangga explained that the revision of PP 1/2019 will focus on 13 important points, namely regulated natural resources products, all DHEs and SDA downstreaming are required to enter the Indonesian financial system, the export value of more than 250,000 US dollars is required to enter the bank or LPEI, DHE SDA must enter a special account no later than three months.

Then, the rules regarding special accounts, must be stored 30 percent of the value of DHE revenue, the period of DHE storage up to 90 days, must be converted to rupiah, the DHE calculation method is carried out monthly, the provision of special tax rates.

Then, incentives from BI are in the form of the exception of the minimum mandatory giro (GWM), the determination of sanctions, and the last is the rule regarding the three-month transition period since the rules are enforced.

"This DHE also minimizes the impact of importing fuel oil and strengthens our economic stability," said Airlangga.

For information, the issue of foreign exchange of export results was first discovered by Bank Indonesia, which assessed that the increase in export value was not accompanied by the entry of foreign capital flows, especially dollars, significantly into the country.

Investigate an investigation, exporters prefer to park their funds abroad because of attractive returns. Therefore, the revision of PP 1/2019 is expected to be the basis for attracting foreign currency domestically.