JAKARTA - The government is preparing to implement the export earnings foreign exchange rules starting June 1. 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.
This was conveyed by Coordinating Minister for the Economy Airlangga Hartarto after meeting the President at the Presidential Palace Complex, Jakarta, Thursday, May 21.
Airlangga said he reported together with the Minister of Trade, the Governor of Bank Indonesia, and the Minister of Finance. There are two main agendas discussed, namely the implementation of export earnings and the export mechanism of three commodities through DSI.
"I reported to the President regarding the plan to implement two things, namely the implementation of foreign exchange from export results which took place on June 1, and the implementation of CPO, coal, and ferro alloy exports by PT Danantara Sumber Daya Indonesia," said Airlangga.
Foreign exchange from export or DHE is 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.
The government will also hold a socialization to business associations on Thursday afternoon at 16.00 so that industry players understand the policies that will be carried out.
Airlangga asked business actors not to worry. He emphasized that exports were still being carried out by companies that had been operating in the sector.
"There is no need to worry, because all exports are still carried out by companies in the existing sector, both coal, CPO, and feronikel," he said.
What has changed is 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.
"In three months we will fine-tune the system," said Airlangga.
Regarding the DSI manager, Airlangga said Danantara would announce it himself.
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.
Apart from exports, the government also discussed a package of follow-up economic policies. Airlangga said the global situation was still under pressure because the war had not ended.
During the discussion, Airlangga said the government also touched on the continuation of the work from home policy for the next two months. He did not specify the scope of the policy.
A number of incentives are also being prepared to encourage the second quarter economy to continue to move.
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