JAKARTA (June 5): Indonesia issued a government regulation on Friday to bring exports of its strategic commodities under centralised control, according to a notice on the website of the state secretariat ministry.
President Prabowo Subianto announced on May 20 that Indonesia would bring the exports of all of its strategic commodities under the control of a new state company, Danantara Sumberdaya Indonesia (DSI).
Here are some key details about the regulation:
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The 11-page regulation was signed on May 20 by President Prabowo Subianto and outlines the implementation of Indonesia’s centralised export measures.
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In the initial stage, the government will mandate that exports of palm oil, coal, and ferroalloys will be conducted through a state-owned enterprise.
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The regulation will be extended to more strategic commodities later, to be decided by relevant ministers.
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The regulation comes into effect in June 1.
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After Dec 31, all commodity exports will be channelled through the state-owned firm.
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