So far, Jokowi has often boasted about the success of the nickel downstream program in the country. Jokowi said that export value of downstream nickel will increase tenfold to US$ 33.8 billion (IDR 510 trillion) in 2022. Previously, in 2014-2015 the export value was still in the form of nickel seeds, only reaching US$ 1.1-2.1 billion.

Meanwhile, the government is also boosting other mineral downstream programs other than nickel, such as bauxite to copper.

Faisal considered that the downstream program, which is also the pride of Indonesia and the Jokowi administration, only supports industrialization in China.

This relates to the export of semi-processed nickel through the development of nickel smelter refining and processing facilities.

Faisal advised the government to carry out an industrialization strategy, and not just carry out a downstreaming policy.

"Unfortunately, there is no such thing as an industrialization strategy, what is there is a downstreaming policy," he said, on August 9, 2023.

This industrialization can make the economic structure stronger, and the industrial sector can increase domestic added value.

So far, the development of smelters that produce semi-finished nickel has only benefited the Chinese industry.

Meanwhile, downstreaming is just converting nickel ore into nickel pig iron (NPI) or ferronickel which is then 99% exported to China.

"So downstreaming in Indonesia really supports industrialization in China," he said.

He added that the processing of nickel derivative products could still be maximized, because currently Indonesia is only experiencing 10% of the added value.

"We really don't get much [added value] from downstreaming, a maximum of 10%. Meanwhile the 90% goes to China," he added.

Jokowi denied INDEF's statement, underline large tax income

On the other hand, Jokowi denied that downstream nickel mining would only benefit China. He also gave an example that nickel downstream actually benefits Indonesia.

"If I give the example of nickel, when it is exported raw, the raw material is only IDR 17 trillion a year, after entering the industry, it becomes IDR 510 trillion downstream," said Jokowi, on August 10, 2023.

With the increase in the export value of downstream nickel, the tax revenue will be greater than before nickel was carried out downstream.

"Just imagine that our country only collects taxes, takes tax from IDR 17 trillion and takes tax from IDR 510 trillion which is bigger? Because from downstream we can get VAT, corporate PPH, employee PPH, company PPH, export duty royalties, non-tax state revenues are all there, just try to calculate from IDR 17 trillion to IDR 510 trillion, how big is it?” he said.