These are the Five Steps of ESDM to Increase Foreign Exchange and Strengthen Rupiah Exchange Rate

By : Hariyanto And Aldo Bella Putra | Thursday, August 16 2018 - 16:30 IWST

Kementrian ESDM (Hariyanto/ INDUSTRY.co.id)
Kementrian ESDM (Hariyanto/ INDUSTRY.co.id)

INDUSTRY.co.id - Jakarta - At a Limited Meeting (Ratas) held on Tuesday (08/14/2018), President Jokowi gave several directions related to the program to increase foreign exchange in the ESDM sector. The meeting was also attended by the Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan.

First, from the oil and gas sector, the results of Ratas requested that Pertamina buy all oil lifting produced by the Cooperation Contract Contractors (KKKS).

Following up on this matter the Head of the Communication Bureau, Public Information Service and Cooperation (Bureau of KLIK) of the Ministry of Energy and Mineral Resources Agung Pribadi said that the ESDM Ministry would immediately facilitate its regulation.

"The results of Ratas requested that the oil lifting at the KKKS be purchased entirely by Pertamina. This would reduce our imports. This regulation will be facilitated and apply as soon as possible," said Agung.

Second, Agung said that the President would sign a Presidential Regulation (Perpres) regarding the obligation to mix biodiesel in BBM (B-20) and take effect on September 1, 2018. This regulation will apply both to BBM Public Service Obligation (PSO) and non-PSO.

"The President signed the Perpres B-20 which took effect on 1 September, both PSO and non-PSO. The country can save US $ 2 billion for this year. Next year it will save US $ 4 billion," Agung added.

Third, in order to increase coal exports, the government opened additional coal exports by 100 million tons. Currently, of the 100 million tons, the ESDM Minister has signed an initial additional agreement for 25 million tons. With the addition, it is expected to increase the country's foreign exchange up to US $ 1.5 billion.

"Of the 100 million tons of additional coal production plans, there are currently several companies that have proposed a total production increase of 25 million tons, and have been approved. With this, the country is expected to get additional foreign exchange of US $ 1.5 billion and the money can immediately enter the country. The ESDM Minister has signed the agreement. The current coal price is good for increasing foreign exchange, "Agung said.

Fourth, encourage the use of local content or products in the country's upstream oil and gas and electricity projects, all available in the country to not publish the master list for duty-free.

Fifth, in Ratas also discussed the nozzle digitization plan for Specific Type of Fuel (Solar) and Assignment-specific Fuel (Premium). "Nozzle will be made a real time nozzle. This is to reduce the abuse of fuel and monitor Premium consumption to the public," said Agung.

For information, the Ministry of Energy and Mineral Resources through the Regulatory Agency for Upstream Oil and Gas (BPH Migas) with PT Pertamina (Persero) with PT Telekomunikasi Indonesia (Persero) Tbk will install digitizing nozzle at the 5518 Fuel Filling Station General (gas stations) are scattered throughout Indonesia .

"With the five programs mentioned above, the Ministry of Energy and Mineral Resources is expected to be able to support and increase the country's foreign exchange and strengthen the rupiah exchange rate," said Agung.

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