Govt to Finalize Import Restriction Policy
Date 4 September 2018
In a bid to respond to the developing economic condition, the Indonesian Government announced it will soon finalize import restriction policy on hundreds of goods or raw materials.
The finalization is tomorrow. It can be more than 900 products or less, Minister of Industry Airlangga Hartarto said after attending a meeting with President Joko Jokowi Widodo and a number of ministers at the Presidential Palace, Jakarta, Tuesday (4/9).
The Minister maintained that the Government is also reviewing the ability of local industries to substitute the restricted materials because it takes several years to make a factory in the country. Therefore, it is really necessary to sort and choose the product type including raw materials, intermediate goods, or downstream goods that will be restricted in imports, he said.
The industry must buy if the ingredients are available in the country, Airlangga said.
However, Airlangga indicated there would be no sanctions for industries that have not used local materials yet.
We will not impose sanctions at the moment. In investment, we encourage incentives, he said.
Minister of Finance Sri Mulyani Indrawati previously said Regulation of Minister of Finance on restriction of imported goods would be announced on Wednesday (5/9) or Thursday (6/9) this week. (ANT/ES) (GWH/EP/Naster)