Indonesia: Government raises coal export quota to 100 million tons
The Indonesian government has raised its coal export quota to 100 million tons as part of efforts to control the current account deficit and maintain economic fundamentals, a Bank Indonesia (BI) official said.
The coal export quota hike is part of the government`s efforts to increase the country`s foreign exchange earnings, Chief of BI Representative Office in South Kalimantan, Herawanto, stated here on Wednesday.
He made the remarks during a routine meeting of BI and South Kalimantan journalists to discuss the province`s economic growth.
“We hope the coal export quota hike will also boost South Kalimantan`s economic growth,” he added.
The policy to raise the coal export quota did run counter to the previous policy in which the government tightens the export of raw materials, he remarked.
“Of course, the decision to raise the export quota cannot spontaneously be implemented without calculation and regulation in place,” he noted.
In addition to raising the coal export quota, the government has also taken several steps to control the current account deficit and maintain the national economic fundamentals, he explained.
The steps included reviewing government infrastructure projects, particularly national strategic projects; implementing the use of biodiesel (B-20) to reduce diesel oil imports; and reviewing income tax on the import of consumer goods to encourage the use of domestic products, he elaborated.
Also present at the routine meeting was the director of financial service institution supervision at the Kalimantan Regional Office of the Financial Service Authority (OJK) Mohammad Nurdin Subandi.
Subandi stated that OJK has issued a policy package to increase exports and strengthen national economy.
The policy offered incentives for financial service institutions to extend financing to export-oriented industries, tour operators, and manufacturers of goods to replace imported goods, he pointed out.