Pemerintah memperkirakan potensi total dana retensi yang akan diperoleh dari hasil kewajiban parkir Devisa Hasil Ekspor (DHE) di dalam negeri hanya akan mencapai USD14 miliar atau sekitar Rp227,26 triliun hingga akhir tahun.
Namun potensi hasil retensi selama tiga bulan untuk Devisa Hasil Ekspor dari Kegiatan Pengusahaan, Pengelolaan, dan/atau Pengolahan Sumber Daya Alam (DHE SDA) yang diatur dalam Peraturan Pemerintah (PP) Nomor 36 Tahun 2023 itu jauh dari target awal pemerintah, dimana pada 2023 lalu, target retensi yang dipatok pemerintah senilai USD40 miliar sampai dengan USD49 miliar.
Dan mengacu pada realisasi tersebut, rapat koordinasi evaluasi peraturan DHE SDA memutuskan untuk merevisi aturan terkait DHE SDA. Revisi aturan itu ditargetkan terbit pada Januari 2025.
Menko Bidang Perekonomian Airlangga Hartarto mengatakan, perubahan terhadap aturan DHE SDA itu akan diubah secara menyeluruh, mulai dari level Peraturan Pemerintah (PP), Peraturan Menteri Keuangan (PMK), Peraturan Bank Indonesia (PBI), serta Peraturan Otoritas Jasa Keuangan (POJK). Airlangga pun menilai, aturan DHE SDA yang saat ini mewajibkan eksportir menyimpan DHE SDA paling sedikit 30% di sistem keuangan Indonesia, sudah berkontribusi cukup baik dalam menambah devisa negara.
Namun potensi hasil retensi selama tiga bulan untuk Devisa Hasil Ekspor dari Kegiatan Pengusahaan, Pengelolaan, dan/atau Pengolahan Sumber Daya Alam (DHE SDA) yang diatur dalam Peraturan Pemerintah (PP) Nomor 36 Tahun 2023 itu jauh dari target awal pemerintah, dimana pada 2023 lalu, target retensi yang dipatok pemerintah senilai USD40 miliar sampai dengan USD49 miliar.
Dan mengacu pada realisasi tersebut, rapat koordinasi evaluasi peraturan DHE SDA memutuskan untuk merevisi aturan terkait DHE SDA. Revisi aturan itu ditargetkan terbit pada Januari 2025.
Menko Bidang Perekonomian Airlangga Hartarto mengatakan, perubahan terhadap aturan DHE SDA itu akan diubah secara menyeluruh, mulai dari level Peraturan Pemerintah (PP), Peraturan Menteri Keuangan (PMK), Peraturan Bank Indonesia (PBI), serta Peraturan Otoritas Jasa Keuangan (POJK). Airlangga pun menilai, aturan DHE SDA yang saat ini mewajibkan eksportir menyimpan DHE SDA paling sedikit 30% di sistem keuangan Indonesia, sudah berkontribusi cukup baik dalam menambah devisa negara.
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TVTranscript
00:00The government is revising the Government Rule No. 36 of 2023 on export deficit from business activities, management, and or natural resource management.
00:25The Ministry of Finance and Real Estate has targeted that the revision will be completed and will take place in early January 2025.
00:39The Central Government is revising the Government Rule No. 36 of 2023 on export deficit from business activities, management, and or natural resource management.
00:48The Ministry of Finance and Real Estate has targeted that the revision will be completed in early January 2025.
00:54Related to the revision of the Government Rule, Manco Preekonomen Erlangga Hartato last week held a meeting of the Ministry of Finance and Real Estate,
01:01as well as revising the implementation of the Government Rule No. 36 of 2023, which is the basis of the law on the obligation to store most of the domestic capital.
01:11The evolution and revision of this policy is done to increase transparency in the record of the direct export value.
01:17In addition, the evolution and revision also aims to increase the Government Deficit Savings and maintain the stability of the exchange rate value.
01:25However, Erlangga does not reveal any contents of the new DHA-SDH regulation revision.
01:31It is still not final, but in the regulation it will find the duration of the storage of DHA and the portion of the DHA investment into a special account or REXUS.
01:40For your information, in the Government Rule No. 36 of 2023, the company that exports the SDH community with a minimum value of USD250,000
01:51must place 30% of the DHA into a special account in the country, which is facilitated by the Bank of Indonesia for at least 3 months.
02:01Various sources, IDX.no
02:04Yes, Mr. Mir, welcome to discuss our topic this time, the effective strategy to optimize the export deficit of natural resources.
02:10We have been connected through Zoom with Mr. Gulat M. E. Manurung.
02:14He is the Chairperson of the Association of Indonesian Coconut Farmers.
02:18Hello, Mr. Gulat, how are you?
02:19Hello, always healthy.
02:21Always healthy.
02:22Thank you for the opportunity.
02:25Mr. Gulat, it is interesting if we discuss about the export deficit,
02:31which is still in the process of dilution,
02:34where there will be a new regulation in 2025.
02:39Your review is related to the palm oil industry first until now, at the end of 2024, what is it like?
02:47Yes, if I look at it, Indonesia is very, what is it, very, very enjoying the condition of Indonesia's economy at the moment,
02:55because there is a palm oil economy.
02:57Moreover, President Prabowo's government aims for a national economic growth of at least 8% per year.
03:05Of course, this is a challenge.
03:07The challenge is not only to the Minister, but to all the children of this nation.
03:11Such a big growth can only be achieved if fresh blood grows as big as possible.
03:19It means there is a supply.
03:20The source of fresh blood is Indonesia's economy.
03:23Export deficit, investment, government spending, especially capital spending from the central and regional sectors.
03:31Okay.
03:32As we discussed earlier, the export deficit that we receive in foreign currency or in the form of dollars.
03:38This is the fresh blood of Indonesia's economy.
03:40If it is separated, it is spent in the form of rupiah.
03:44So if you just save it, DHE is in the form of parking, quotation marks, it's the same.
03:51Okay.
03:52So how did the palm oil industry also review the implementation of the PPP No. 36 in 2023 on export deficit so far?
04:02Yes, we in the palm oil industry sector appreciate the plan.
04:06As a part of Indonesia's economy, of course we support government policies.
04:11But once again I say, even if it is increased, the DHE fund becomes 60% or so,
04:20the key words that we repeat once again are, so that the money goes into Indonesia's credit system.
04:26So it's not just about parking.
04:29Of course, we as the hundu sector that needs long-term credit loan investment in the bank,
04:37this will be disturbed because there is no bank money in the form of rupiah because everything is parked.
04:42Now, this will result in high interest rates.
04:45Once again I say, high interest rates.
04:47If the interest rates are high, of course our production will increase.
04:49As of today, the production cost of 1 kg of palm oil is Rp. 2,100.
04:54What is our palm oil price? Rp. 2,500.
04:58Why is that? Because we are burdened with a fairly high production cost.
05:02A fairly high production cost is also generated by the palm oil industry and its descendants.
05:08All of this is reduced, all of it is suppressed to the price of TBS,
05:11so our palm oil price is suppressed.
05:14From the hundu sector, we are palm oil farmers.
05:16Because of that burden, no matter how expensive the palm oil burden is,
05:19TBS is the palm oil farmer who is responsible for it.
05:23Okay, so has the palm oil industry benefited from the minimum employment requirement
05:30of 30% of the export revenue in the domestic bank?
05:37So, it benefits in two ways.
05:38First, for the country, of course, to maintain the deficit,
05:42so that it does not enter 100 per 100.
05:45The second will also be the exchange rate of rupiah to dollars.
05:50In the past, the palm oil industry, or the plantation,
05:53required a large amount of investment and labor capital.
05:57For palm oil cultivation, fertilization, mechanization,
06:00factory development, plantation road repair, diversification of products, etc.
06:04All require labor capital, which so far we depend on the credit bank.
06:08If TBS does not enter the national banking system,
06:12or credit, labor capital and investment will be difficult and expensive.
06:16It is very expensive for the palm oil industry.
06:20This means that if TBS enters the national banking system,
06:26and is converted into a form of credit,
06:29the labor capital will be different from the existing policy.
06:33It will also be beneficial to us, the palm oil stakeholders,
06:37and those who are parked there.
06:39Yes, in your opinion, it means it is quite effective.
06:41In your opinion, the implementation of the PPP No. 36 in 2023
06:46is related to its contribution to the economy nationally.
06:50Mr. Gulat.
06:51Yes, it is quite effective if the money that was parked there
06:55can be converted into rupiah.
06:57Let's say part of it, to maintain the deficit.
07:00But if it is only parked like that, without being able to be used,
07:04it is the same. We will be very stressed in the palm oil sector,
07:08especially because we cannot use the money in the form of credit loans.
07:11Even if it is loaned with high interest rates,
07:14in the end, it is all production.
07:16We are stressed by the price of our palm oil TBS.
07:19Okay, next question.
07:21How about the plan to change the rules on the placement of export deficit
07:25which is being manipulated by the government itself,
07:28which will be implemented next year?
07:30Just count the days, Mr. Gulat.
07:32Mr. Gulat.
07:34Yes, we only hope that if it is really implemented
07:40or has been formalized by the minister,
07:43it should be put as much as possible into the pre-economy system,
07:47that is, it should not be parked in the form of foreign currency.
07:50In addition to the greater contribution,
07:52it is also not only enjoyed by the palm oil industry,
07:55but also other economic actors in the pre-economy sector,
07:58in addition to the palm oil sector, I mean.
08:00This is also one of the economic mechanisms
08:03so that the benefits of palm oil are enjoyed by all Indonesian people,
08:07whose economy is not only dependent on the palm oil industry.
08:10Because the multiplayer effect,
08:12rather than turning the money that was parked earlier into banks,
08:16making it easier for us to get credit,
08:18the impact is quite wide.
08:22Okay, okay.
08:23Well, if for example,
08:25this is also still a circulation of speeches and information,
08:30there is a possibility that when the percentage is increased,
08:33then the implementation period will also be longer than the previous three months,
08:39what do you think it will be like?
08:41Even though you hope that the export deficit funds
08:45can really be used for industry actors.
08:51Mr. Gulat.
08:53Yes, thank you.
09:02Yes, hello?
09:06Mr. Gulat?
09:08Yes, I can't hear you, I'm sorry.
09:10Is it muted for the audio?
09:16Oh, sorry.
09:20Even though the money, what is it called,
09:22the funding for palm oil is extended to six months,
09:25but the concept is still like three months,
09:28it's the same.
09:29We palm oil farmers manage 42% of Indonesia's palm oil,
09:33more or less 6.87 million hectares.
09:36So we need funds.
09:37Therefore, we ask the government,
09:39especially the Monetary Authority,
09:41to ensure that palm oil is really,
09:46and as much as possible,
09:47can be included in the national bank account,
09:49or not parked in a foreign currency,
09:51and ensure that through the mechanism of an efficient banking system,
09:55it can provide a working capital credit,
09:58and investment with a cheap flow rate,
10:00can be achieved by us, the palm oil farmers.
10:03So the key words are still one,
10:05if the money is parked for six months,
10:07it will not be very useful to us, the palm oil farmers,
10:09it will even increase the flow rate in the bank,
10:11and this will make it difficult for us, the palm oil farmers,
10:14because it will be pressured.
10:15The palm oil banks used by the palm oil industry,
10:17all of them are counted as production funds.
10:19So we simply ask,
10:21use the funds as part of our working capital,
10:25in the form of investment credit.
10:27Okay, so what strategy will be prepared
10:29by the CPO industry players?
10:31As you said, the Deficit Export Regulation
10:34will be implemented in 2025.
10:36We will discuss it later in the next segment.
10:38Mr. Bulet, we will take a break for a while.
10:40And Mr. Mirsa, we will be right back after the break.
10:42Stay tuned.
10:45Thank you for joining us in Market Review, Mr. Mirsa.
11:03And now we are joined by Mr. Hanito Juwono,
11:06Head of the National Export School.
11:08We will be joined by Mr. Gulat Manurung,
11:11Chairperson of the Indonesian Palm Oil Farmers Association.
11:14Hello, Mr. Hanito, how are you?
11:16I'm good.
11:18Every day after 2025,
11:21we have to be optimistic.
11:25Okay.
11:26It will be interesting if we talk about
11:28one of the regulations,
11:30especially if we talk about the Deficit Export Regulation.
11:33Review, as Mr. Gulat said,
11:36this is a challenge for the CPO industry.
11:39For the export school,
11:41how about the DHI policy?
11:43Mr. Hanito.
11:45Yes, we understand that
11:48on one hand, the business sector wants to move forward,
11:52we all want to increase export.
11:54Okay.
11:55But on the other hand,
11:57we also understand that the government,
11:59as a state manager,
12:01also wants the business results
12:04related to land use
12:06can also be optimized
12:08as much as possible for the interests of the people,
12:10the interests of the country.
12:11So, it's not easy to manage like this,
12:14but I think with the spirit of understanding each other,
12:17we understand that the regulations
12:19or the changes in the regulations
12:21are meant to optimize both
12:23so that the business can still run,
12:25the farmers can still thrive.
12:27But on the other hand,
12:29we also need funds
12:31for the development of this national economy.
12:34Mr. Hanito, if Mr. Gulat said,
12:37hoping that the funds that are parked
12:40can be used again
12:43to build industrial activities.
12:46For example, we are talking about the CPU industry.
12:49Is there a chance
12:51when the export results
12:53that have been announced
12:55or applied for the past three months,
12:5730% like this,
12:59can be used again
13:01for the industry in the country?
13:04Yes, if we pay attention,
13:06all this time,
13:08all the funds
13:10that are generated from
13:12taxes,
13:14or the export of palm oil,
13:16and so on,
13:18have not been seen
13:20widely.
13:22I think transparency is needed
13:24in this matter, openness.
13:26But I mean, if those things are used
13:28to support the farmers,
13:30to support the development of palm oil factories,
13:32and also, I don't think that's enough.
13:34We have also seen
13:36the development,
13:38the development of palm oil processing
13:40only in certain areas.
13:42Even though the potential is wide.
13:44Well, this is an emphasis there.
13:46I think the problem is,
13:48one, how do we build
13:50good communication
13:52to the public,
13:54but secondly, I think I agree
13:56that it should be used
13:58for something that increases
14:00productivity and competitiveness
14:02and added value of our palm oil.
14:04Do you also see the implementation
14:06of PPP, DHI,
14:08finally able to stabilize the value of our palm oil?
14:10In fact, if we look at the last few days,
14:12it has reached 16,000,
14:14even 16,200,
14:16even though back to the position
14:18of 16,100 for the value of our palm oil
14:20to the US dollar. Do you understand that?
14:22Yes, I think
14:24DHI should not be given additional burden
14:26related to
14:28the interest rate
14:30on
14:32the US dollar
14:34and other foreign currencies.
14:36Because I think,
14:38the macroeconomic factor is much more dominant
14:40than the sectoral
14:42aspects.
14:44If we look at
14:46what Donald Trump has done
14:48to keep pushing for a stronger economy,
14:50the tendency will be there.
14:52So, I think
14:54we also need to consider
14:56this factor.
14:58If we look at
15:00the US dollar,
15:02I think
15:04it should not be considered
15:06as something
15:08that threatens
15:10the national economy.
15:12There is an impact, but
15:14we also have to look at the positive aspects.
15:16The weaker the dollar,
15:18the more incentive it becomes
15:20for exporters.
15:22The Ministry of Trade
15:24has three programs,
15:26two of which are related to exports,
15:28access to export markets,
15:30and the second one,
15:32which is important,
15:34is MSMEs can export.
15:36This is what we should optimize.
15:38Building a good ecosystem,
15:40including an ecosystem
15:42related to divisa,
15:44where the interest rate is high.
15:46We have to look at it
15:48in a balanced way.
15:50Okay. Mr. Gulat,
15:52what strategy have you prepared
15:54from the industry players
15:56for the future of MSMEs
15:58related to export divisa
16:00in the next year?
16:06For us,
16:08especially from MSMEs,
16:10of course,
16:12with the ongoing
16:14DHA,
16:16it will be more
16:18effective
16:20economically,
16:22because it will be more difficult
16:24to borrow money from the bank,
16:26because the money will be deposited
16:28in a certain amount of time.
16:30But once again,
16:32as a nation,
16:34as MSMEs,
16:36we support
16:38whatever the government says
16:40to extend the DHA.
16:42Our strategy is one,
16:44how we can survive,
16:46MSMEs,
16:48with the many conditions
16:50set by the government.
16:52We, as MSMEs,
16:54are immediately formed
16:56as Indonesia's MSME body.
16:58So, there are not many MSMEs
17:00who manage MSMEs.
17:02There are 37 MSMEs
17:04that make us confused
17:06which one to follow.
17:08Therefore, we, MSMEs,
17:10really hope the government
17:12sees MSMEs as one of the most important
17:14parts of Indonesia's economy
17:16and how to maintain it
17:18without reducing
17:20the number of MSMEs.
17:22And so far,
17:24does the oil industry
17:26tend to use export deficit
17:28for working capital
17:30rather than saving it,
17:32or what is the mechanism
17:34that has been going on all this time?
17:36Mr. Gulat.
17:38Yes, okay.
17:40If we observe the current situation,
17:42there are two possibilities.
17:44The funds are not
17:46in surplus,
17:48and this regulation
17:50also makes us, Indonesia,
17:52stronger in terms of
17:54the benefits of oil.
17:56But with this regulation,
17:58parking for at least 3-6 months
18:00is certainly a new challenge
18:02for us, especially oil farmers,
18:04because we tend to use funds
18:06from banks.
18:08Don't park it for too long,
18:10don't use it.
18:12Of course, this will increase
18:14the flow in the bank,
18:16but it won't be subsidized
18:18for the last two years.
18:20Okay.
18:22With this situation,
18:24is this policy
18:26appropriate for the government
18:28if there is a change in export deficit
18:30for our natural resources?
18:32Yes, I think we understand
18:34why the government is doing this
18:36in order to strengthen the deficit.
18:38Okay.
18:40I think it's good.
18:42A while ago, we had a discussion
18:44about this.
18:46I think we need to think of
18:48a more comprehensive option.
18:50For example,
18:52even though it's not popular,
18:54let's make a policy
18:56that at the same time
18:58all the export results,
19:00all of them,
19:02not just oil, to be fair to all of them,
19:04not just natural resources,
19:06but all of them must be converted
19:08into rupiah,
19:10and immediately given,
19:12all of them must go into the country.
19:14The problem is that
19:16some of them are parked abroad.
19:18We have to make sure
19:20that all of them go into the country.
19:22Then, the deficit will be
19:24automatically converted.
19:26If it's necessary,
19:28we make an incentive policy.
19:30An incentive policy
19:32that gives,
19:34let's say, the exchange rate is 16,000,
19:36plus 200,000,
19:38if it's necessary.
19:40If it's necessary,
19:42the money from the export,
19:44the deficit will automatically go into the country.
19:46For businessmen,
19:48it's okay if they only get rupiah.
19:50That makes the export rate
19:52better,
19:54and most importantly,
19:56so that it won't be held back.
19:58In my opinion,
20:00this business needs cash flow.
20:02It can be funded again,
20:04but I think it's better
20:06to do it right away.
20:08So, the revision of the DHI
20:10can accommodate the ideal size,
20:12such as the value of DHI
20:14that must be saved,
20:16including the duration.
20:18Mr. Dito.
20:20Yes. So, in my opinion,
20:22not only the DHI
20:24must be corrected,
20:26in my opinion,
20:28the goal is
20:30for the export deficit
20:32to go into
20:34Indonesia's financial system,
20:36in Indonesia.
20:38Secondly,
20:40so that it won't be parked
20:42abroad.
20:44In my opinion,
20:46the DHI is a good way,
20:48but it can lead to
20:50more deficit
20:52if we ask for
20:54correction.
20:56So, I've made a new regulation
20:58that requires
21:00the export deficit
21:02to be automatically received
21:04in the country.
21:06For example,
21:08if it needs to be recorded,
21:10it's called Indonesia,
21:12just like that.
21:14Everything is recorded well,
21:16but we give incentives
21:18to the exporters.
21:20There's no reason for the exporters not to want it.
21:22So, the DHI is not extended,
21:24it's even reduced.
21:26But it still
21:28has to go into the country.
21:30What kind of scheme
21:32do you expect from the entrepreneurs,
21:34especially if we're talking about
21:36the palm oil industry,
21:38related to the DHI regulation
21:40that will be implemented next year?
21:44So, the scheme is quite simple.
21:46So, the funds,
21:48in quotation marks,
21:50are not allowed to be used
21:52for a long period of time,
21:54but they are given relaxation
21:56from what is parked,
21:58a percentage of it is used
22:00as Mr. Dito said.
22:02So, everyone will be happy.
22:04Because the palm oil industry
22:06doesn't require a small amount of labor.
22:08Once again, we agree.
22:10Because Indonesia is always
22:12reported by the Ministry of Trade.
22:14We ask for trade policy.
22:16But the impact on the domestic economy
22:18is not visible because the money is mostly
22:20parked in Singapore
22:22or in other countries.
22:24With this policy, we have to be proud,
22:26Mr. Provost, to dare to move forward.
22:28We don't just think about
22:30using the eggs,
22:32but we also have to take care
22:34of the palm oil industry
22:36through cheap credit schemes,
22:38through the use of DHI funds
22:40as part of our labor capital
22:42in the palm oil industry.
22:44That scheme is very important.
22:46So, don't just look at the eggs,
22:48but we have to be proud.
22:50So, there is a balance
22:52expected from entrepreneurs,
22:54related to policy changes,
22:56to become sweeteners,
22:58to become a driving force for the industry,
23:00or industry players in natural resources,
23:02especially in CPOs.
23:04Okay, Mr. Gulat, thank you very much
23:06for the review, update, and information you have provided.
23:08Mr. Adito, thank you for sharing
23:10and also for the analysis you have provided
23:12to the audience today.
23:14Congratulations on continuing your activities.
23:16See you again and good health. Thank you.
23:18Good health.
23:20Okay, audience, it's been an hour.
23:22I accompanied you in the market review
23:24to discuss your information
23:26only on IDX Channel,
23:28Your Trustworthy and Comprehensive Investment Reference.
23:30Because of business, the future must move forward.
23:32I am an stock investor.
23:34Yes, I am Prasetyo Wibowo,
23:36along with all employees
23:38who are on duty.
23:40Thank you. See you again.
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