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Home arrow Latest News arrow Anticipating Corona, Industrial Players Import Permit Loosen


				
			
			
Anticipating Corona, Industrial Players Import Permit Loosen PDF Print E-mail
Written by Maizer   
Wednesday, 04 March 2020
The government is racking its brains to save the national economy from the negative effects of the spread of the corona virus (Covid-19). Moreover, the virus that spreads for the first time in Wuhan, China is now declared positive to enter Indonesia. The government, in addition to preventing the spread of the virus, also keeps the wheels of the economy spinning. One of the moves taken is to relax the permit to import raw materials.

 

Minister of Finance Sri Mulyani explained, since the outbreak first broke out, the Indonesian government had anticipated its effects. On the one hand, it was realized that the supply of raw materials for the national manufacturing industry would be affected. For example, the plastic and textile industries in Indonesia still depend on raw materials from China.

 

"Around 20-30 percent, even for certain industries 50 percent of raw materials can come from China. If they experience a production delay because corona will definitely affect Indonesia," Sri Mulyani explained.

 

Anticipating this, President Jokowi also gave his blessing to facilitate the licensing of import of raw materials for 500 industry players in Indonesia. The ease of import is given on imported products from China or from other countries of origin. Imports carried out by 500 industry players contributed 40 percent to the national import volume.

 

"It is freed to procure raw materials so that they are not obstructed by licensing. So they can continue to run well," Sri Mulyani explained.

 

Meanwhile, Bank Indonesia (BI) also poured Rp 103 trillion to buy Government Securities (SBN) from the secondary market. This step was taken to save the rupiah exchange rate which continues to decline as a result of the spread of the corona virus (Covid-19).

 

BI Governor Perry Warjiyo revealed, it had coordinated with the Financial Services Authority (OJK) with the government to take a number of economic rescue measures. Among these are lower interest rates, relaxation of macroprudential policies, and stabilization of financial markets, particularly exchange rates and the SBN market.

 
		
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