Category: Trading

The Financial Services Authority (OJK) has targeted transactions through e-commerce at the West Sumatra Proud of Indonesian Products National Movement (Gernas BBI) to amount to US$1 million, or Rp15 billion.

“There are some targets, one of them is transactions of (micro, small, and medium enterprises/MSMEs) through e-commerce to reach Rp15 billion,” OJK’s Head of the Sharia Finance Development and MSMEs Task Force, Achmad Buchori, stated in Bukittinggi, West Sumatra, on Monday.

The West Sumatran Gernas BBI “Maju Berkah Basamo UMKM” will carry MSMEs together with its launch on Tuesday, April 12, and will be held until June 2022. The OJK will act as the campaign manager.

Buchori said the OJK is optimistic of the transaction target being achieved, as the number of COVID-19 cases have declined. According to his observations, several people are already gathered at crowded locations, especially in Bukittinggi.

Buchori believes the economy of the community has started to move again.

“With digital opportunities through e-commerce, we (the OJK) will work with iDEA (Indonesian E-Commerce Association), and both decacorns and unicorns are all involved. Thus, that is one way to increase transactions,” he stated.

According to Buchori, there will be a different attraction in the West Sumatra Gernas BBI, which is the virtual expo where visitors can view MSME products offered online.

The virtual expo is also equipped with avatars that can facilitate visitors to communicate with MSME players of the Gernas BBI.

“What will be inaugurated later is the virtual export. Visitors do not have to come on-site, but can be virtual. They can even transact for products that are ‘boarding’ in e-commerce,” he explained.

The West Sumatra Gernas BBI is joined by 45 MSMEs curated by OJK, Bank Indonesia, state bank BRI, and government partners.

Four categories of MSMEs in the West Sumatra Gernas BBI are fashion, culinary, agribusiness, and creative industries.

Source: Antara News

Several members of the Indonesian House of Representatives (DPR RI) and police officials met students protesting in front of the Parliament Complex, Central Jakarta, on Monday and listened to their demands.

They included DPR RI’s Deputy Speaker for Economy and Finance Sufmi Dasco Ahmad; Deputy Speaker for Politics and Security Lodewijk Freidrich Paulus; Deputy Speaker for Industry and Development Rachmat Gobel; and National Police chief General Listyo Sigit Prabowo.

During the meeting, Ahmad said that he supported the protesters’ request to reject the idea of the postponement of the 2024 general elections.

“We will comply with the request and guarantee that the preparation of the general election process conducted by the House and the General Elections Commission (KPU) will run (as planned),” he remarked.

On April 12, 2022, the President will inaugurate new members of KPU for the 2022–2027 term, he added.

Furthermore, the deputy speaker said that the attempt will certainly speed up the preparation of the general elections process.

“We are committed to conveying the demands to the government as soon as possible,” he added.

The protesters have appealed to President Joko Widodo (Jokowi) to publicly state that he firmly rejects the ideas of the postponement of the 2024 general elections and the Presidential term extension.

In addition, they have asked the government to review the State Capital Law, stabilize prices and ensure the stock of basic commodities in the market, as well as thoroughly investigate the cause behind the scarcity of cooking oil and evaluate the performance of the related ministers.

Furthermore, they have asked the President to resolve agrarian conflicts in Indonesia and fulfill the campaign promises he made along with Vice President Ma’ruf Amin.

Meanwhile, the protestors have urged DPR RI legislators to listen and convey the aspirations of the people to the government.

They have also demanded that the House firmly reject the postponement of the 2024 general elections and the Presidential term extension as well as not betray the Constitution by making amendments to realize the two ideas.

In fact, on a number of occasions earlier, President Widodo had said that he had complied with the Constitution and refused the ideas.

Source: Antara News

The Industry Ministry has urged industry players to not use subsidized fuel, such as biodiesel, for production processes, power generation, or transportation, to ensure the effective allocation of the supply of subsidized fuel.

“We have (issued directives to) each directorate within the Industry Ministry to appeal to all of their sectors to not use subsidized fuel. If industrial companies still use subsidized fuel, there will be strict sanctions,” Industry Minister Agus Gumiwang Kartasasmita said in a statement received here on Monday.

According to the National Industrial Information System (SIINas) data, the demand for diesel in the industrial sector for production processes and power generation has continued to increase. In 2021, the demand for diesel fuel for production was 8.4 billion liters, an increase from 214.9 million liters in 2019.

Kartasasmita said he believed that the industrial sectors under the ministry’s authority would comply with the applicable regulations regarding the use of diesel fuel, specifically Presidential Regulation Number 117 of 2021 about the Third Amendment to Presidential Regulation Number 191 of 2014 in regard to the Supply, Distribution and Retail Selling Price of Oil Fuel.

The Presidential Regulation states that diesel is a type of fuel subsidized by the government, with the Upstream Oil and Gas Regulatory Agency stipulating its supply and distribution, including limits on the distribution volume.

According to Presidential Regulation Number 66 of 2018, certain types of diesel fuel are subject to mandatory rules for mixing with FAME Biodiesel, with a composition of 30 percent (B30), and the difference in the price will be taken care of by the Palm Oil Agency.

“So, the industry must use diesel fuel specifically for industry, whose distribution scheme is different from certain types of subsidized diesel fuel. There are differences in the specifications of industrial fuel (Industrial Diesel Oil/IDO) with diesel fuel or subsidized B30 (Automotive Diesel Oil/ADO) which, if forced to use, will damage industrial machines,” the minister informed.

The National Police and investigators from State Civil Servants will supervise the use of certain types of subsidized fuel that have been subsidized.

An Anti-Illegal Export of Diesel Fuel Task Force has been formed under the Coordinating Minister for Maritime Affairs and Investment, which has set uniform border security measures to prevent the misuse of diesel fuel for activities that violate the law. The task force was created to address issues of illegal exports of diesel fuel.

The special task force comprises relevant ministries such as the Industry Ministry, represented by the Inspectorate General, Indonesian Police, Navy, National Defense Force Headquarters, and the Maritime Security Agency.

Source: Antara News

An official of the Ministry of Marine and Fisheries confirmed that the ministry would develop two 50-metre fisheries surveillance ships equipped with anti-illegal fishing technology that would enhance fisheries monitoring activities in Indonesia.

The ministry’s Director General of Marine and Fisheries Resources Monitoring Rear Admiral Adin Nurawaluddin said that the two surveillance ships would be equipped with sophisticated equipment.

“The (ship) technology will be developed to enhance illegal fishing monitoring, this includes the fitting of a rope cutter that can cut the fishnet to disrupt illegal fishing practices,” Nurawaluddin said in his statement received here on Sunday.

Some features that will be fitted on the ships are a 360° overview wheelhouse to allow the ship captain to monitor all sides around the ship, a water cannon, a sea rider that is able to accommodate up to five people, as well a fin stabiliser and interceptors that will make ship cruise more stable, he revealed.

The director general said that the class II surveillance ship development will be carried out in collaboration with the National Research and Innovation Agency (BRIN), and the ship model had been earlier tested at the agency’s Hydrodynamic Technology Research Centre in Surabaya, East Java.

“The ship will be faster and more stable than earlier ships with the same class,” Nurawaluddin remarked.

The two ships will be constructed by Batam-based PT Palindo Marine shipyard and are expected to be completed in 2023, he said.

The Police’s Directorate of Corruption Crimes, the Attorney General Office, the Corruption Eradication Commission (KPK), the Finance and Development Monitoring Agency (BPKP), the Government Goods and Services Procurement Policy Agency (LKPP), and the Ministry of Industry will be involved to supervise the surveillance ship development, the director general noted.

“The provision of the two surveillance ships will be supervised (by relevant agencies) to ensure adherence to prevailing laws,” Nurawaluddin said.

Earlier, Minister of Marine and Fisheries Sakti Wahyu Trenggono affirmed the ministry’s commitment to enhancing surveillance technology for marine resources monitoring.

Source: Antara News

House of Representatives (DPR RI) Speaker Puan Maharani has urged entrepreneurs to pay Eid al-Fitr bonuses (THR) to their workers according to prevailing regulations.

“Workers’ rights for receiving the Eid al-Fitr bonuses must be assured. According to prevailing regulations, employers must pay the allowance to their workers in full by the latest seven days before the religious holiday,” Maharani said in her statement received here on Sunday.

She pointed out that Government Regulation No. 36 of 2021 on Wage and Manpower Ministry Regulation No. 6 of 2016 on Religious Allowance for Workers must be referred by entrepreneurs for the allowance payment.

For the last two years, entrepreneurs have been given leniency on the Eid allowance payment to lessen business burdens during the COVID-19 pandemic, the speaker said.

This year, entrepreneurs must pay the Eid bonuses for their employees in full according to ministerial regulations, and those who fail to pay the allowance will get sanctioned, she warned.

“The provision of Eid allowance is the entrepreneurs’ obligation to their workers. If their companies are late or fail to disburse the allowance, they will be sanctioned,” Maharani said.

The speaker cautioned that late allowance disbursement would be troublesome to the workers, particularly when the government allows the Eid homecoming journey to be performed again as the COVID-19 pandemic situation in Indonesia gradually improves.

“The Eid allowance must be transferred before the workers arrive at their hometown. Provision of the allowance will make workers return to their hometown in content heart,” she said.

Maharani reminded entrepreneurs of not paying the Eid allowance in instalments despite the practice being earlier tolerated.

“Our economy is gradually recovering, hence, no reason to delay or cut the workers’ Eid bonuses,” the speaker remarked.

She then asked workers to file a report to relevant authorities, such as the Manpower Ministry or the legislature, if they experience violations of their Eid allowance right.

“We open our doors to residents’ aspiration as the legislature has a supervision duty. Please file your complaints to various channels that the House has,” Maharani said.

Source: Antara News

The Pertamax fuel (RON 92) price hike is inevitable because it is not subsidized, and the fluctuation of its prices is based on global oil prices, state-owned oil company Pertamina’s official said in a statement that ANTARA received here Saturday.

“Pertamina always considers residents’ purchasing power, and the new Pertamax fuel price remains economically competitive compared to similar fuel type offered by other oil companies,” said Deden Mochamad Idhani, manager for communication and CSR at Pertamina’s commercial and trading sub-holding company Pertamina Patra Niaga’s East Java, Bali, and Nusa Tenggara Area.

The decision to increase the non-subsidized fuel prices this year was made for the first after the one in 2019, he said, adding that the price adjustment was only done to the non-subsidy fuel consumed by only 17 percent of total number of customers.

Some 14 percent of the non-subsidized fuel price consumers use Pertamax while another three percent of them use Pertamax Turbo, Dexlite, and Pertamina Dex, Idhani said.

He affirmed that the price of subsidised Pertalite and Solar diesel fuel, consumed by 83 per cent of residents, will have its price unchanged.

Idhani said that despite the price hike, the final price of the non-subsidized fuel remains below its economic price, as current geopolitical crises caused the global price of oil to surpass US$100 per barrel.

To maintain the availability of fuel supplies and distributions, Pertamina carries out major operational efficiency that has inevitably triggered price hike, he added.

Idhani further expressed hope that residents would stick to using non-subsidised fuel that has higher quality.

“The new price remains affordable for financially-viable residents. We also urge residents to be more prudent by purchasing fuel only when needed,” Idhani remarked.

Earlier, the Ministry of Energy and Mineral Resources’ Head of Communication, Public Information Service, and Cooperation Bureau Agung Pribadi said that considering the global fuel price increase in March, the economic price of RON 92 fuel in April may reach Rp16 thousand (US$1.12) per litre.

The current Pertamax fuel price of Rp12,500 (US$0.875) remains below its economically-ideal price. “The decision (to maintain the price) is to not add further burden to residents,” Pribadi remarked.

Source: Antara News

Energy and Mineral Resources Minister Arifin Tasrif has assured that the distribution of fuel oil, particularly subsidized diesel oil, is running smoothly thanks to secure stocks.

“All steps have been taken by, among others, intensifying surveillance and imposing stern measures by the police,” he said in Medan, North Sumatra, on Saturday.

Tasrif, along with president director of state-owned oil and gas company PT Pertamina, Nicke Widyawati, visited North Sumatra to check fuel oil supply and sales at fuel oil terminals and gas stations.

“Admittedly, the price difference between subsidized fuel oil and non-subsidized one is quite large amidst industries’ demand or need for diesel oil that has increased significantly,” he noted.

However, the government has continued to handle the problem by maintaining stocks, ensuring smooth distribution, calling on industries to not use subsidized diesel oil, and taking stern measures against violators, he said.

“All safeguard steps have been taken. For instance, in North Sumatra, the police have dealt with three cases,” he added.

The government has issued a regulation on the use of subsidized fuel oil and will continue to evaluate and improve it, if considered necessary, to better secure subsidized fuel oil supplies, he said.

“The budget for subsidized fuel oil should be earmarked for other activities capable of boosting economic growth,” he added.

Meanwhile, Widyawati assured that fuel oil stocks are quite safe nationwide. The distribution of fuel oil also is also running smoothly, without queues forming for fuel oil at gas stations.

“The stocks are safe. Pertamina continues to monitor and is ready to augment supplies, if necessary,” she said.

Source: Antara News

State-Owned Enterprises (SOEs) Minister Erick Thohir has asked the private sector to fully commit to providing cooking oil to the people.

“I really invite the private sector to have a full commitment to the provision of cooking oil for the people,” Thohir said here on Saturday.

Since the Indonesian nation is gifted with extraordinary resources, all parties who live and enjoy the benefits of the country must take the responsibility for solving the problems that occur in Indonesia, he added.

“Alhamdulillah, the Indonesian nation is extraordinary. So, we must remember that we live in Indonesia, we get blessings in Indonesia. So, when there is something like this, the private sector must also be responsible for solving, do not be a ‘stranger,’” the minister remarked.

According to Thohir, state plantation holding company PTPN has only 4 percent of crude palm oil (CPO) land area. He said the majority of CPO plantation owners are private firms.

Therefore, since a few months ago, the minister has tried to invite private parties to help solve the cooking oil problem.

He has asked the private sector, SOEs, and other stakeholders to jointly resolve the ongoing cooking oil problem.

He said people become rich from Indonesia’s natural resources, but when the people are in need, they are not present.

“So, I really call for the private sector together with SOEs, the central government, the local governments, let’s solve this cooking oil problem,” he added.

Moreover, he said that several policies have been implemented to resolve the issue, and only the willingness of the related stakeholders is required.

“And I think the President, Joko Widodo, the Coordinating Minister, and the Trade Minister have implemented the policies, (the question) is whether we want to do this together. Let’s go back to mutual cooperation,” he added.

Source: Antara News