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Government's plan to ban copper exports may cause 40,000 jobless
The government's plan to fully ban the exports of copper concentrates has worried the Indonesian Mining Association (IMA) over the fate of around 40,000 workers in the industry. The IMA raised concern over the government's unlikeliness to complete the downstream industry before the planned deadline of June 2023.
DPR eyes liberalization agenda with power wheeling scheme in renewable energy bill
The House of Representatives (DPR) received harsh criticism for its proposal to include power wheeling in the problem inventory list (DIM) during the deliberation of the renewable energy bill. Activists and experts have seen the power wheeling policy as a form of liberalization of Indonesia's power sector that only benefit private sector.
Coal, gold still dominate mining industry in 2023
The mining industry in Indonesia has been facing several challenges in recent years, including a fluctuating commodity market, environmental concerns and the uncertainty of regulations, which could be inconsistent. However, two mining commodities will still shine in 2023: Coal and gold.
10 most popular e-wallets among Indonesians
In this digital era, the volume of financial management instruments is increasing in Indonesia. Banking and/or non-banking institutions have issued various innovations to help the public manage their finances more efficiently. The presence of an e-wallet is a proof of its implementation.
Top 10 insurance companies in Indonesia
The insurance industry in Indonesia has been growing in recent years, due to the increasing awareness among the people on the importance of insurance. The government has also raised its efforts to increase insurance penetration in the country. The insurance industry is regulated by the Financial Services Authority (OJK) and comprises of both state-owned and private companies.
Luhut Pandjaitan's statement on KPK's caught red-handed operation sparks controversy
Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan considered the Corruption Eradication Commission (KPK)'s caught red-handed operation (OTT) has given a negative perception to the state. He said state officials were exposed to the antigraft body's caught red-handed operation because the state has not utilized the digital system to improve financial management at the regional and national levels.
Government to ban bauxite ores export starting June 2023
President Joko "Jokowi" Widodo announced that Indonesia would start banning the export of bauxite ores starting June 2023 to encourage the development of bauxite processing and refining industry at home. His statement came days after Indonesia filed an expected appeal against a World Trade Organization (WTO) panel ruling that was in favor of the European Union (EU) in a dispute over the ban on nickel ore exports.
Pertamina Hulu Energy, Pertamina Geothermal Energy to go public
The Ministry of State-Owned Enterprises has planned to launch an IPO for two state oil and gas giant PT Pertamina's subsidiaries, namely PT Pertamina Hulu Energy (PHE) and PT Pertamina Geothermal Energy (PGE).
Ministries have split opinions on Freeport smelter progress and export tax reduction
Gold and copper mining giant PT Freeport Indonesia (PTFI) has yet to receive export tax reduction for their copper concentrate export as Indonesian ministers have not agreed on the percentage of the company's smelter progress in Gresik, East Java.
Garuda Indonesia’s debt problem
In accordance with the specific nature of the establishment of Flight Navigation Service Organizing Agency (LPPNPI) - where income is only based on revenue from the cost of Aviation Navigation Services/PJNP (single revenue) - the availability of periodic cash inflows is very important for investment financing (rejuvenation and modernization of flight navigation aids), the accuracy of equipment performance navigation (calibration) and reliability of human resources (license and certification).
Pertamina restructuring implementation
Some of the benefits that can be achieved with the restructuring of Pertamina are simplification of the investment approval chain so that investment decisions can be accelerated while still paying attention to governance. Implementation of Restructuring simplifies investment decision-making from 9 to 2 steps where Holding, Sub Holding, and Subsidiaries are jointly involved from the beginning of the investment proposal.
One strategy to avoid the government's subsidy burden will be to raise fuel prices
The energy subsidy scheme, which is right on target for the community group, cannot be pushed through because the government's subsidy burden will continue to grow and burden state finances. The magnitude of community-subsidized fuel consumption may be caused by the current subsidy mechanism being open and applied to energy products. "This means that anyone can access the subsidized fuel without restriction," said Bank Permata Chief Economist Josua Pardede in a statement in Jakarta on Tuesday, August 30th.