Government Formulates Strategies to Save Foreign Exchange Earnings

Bogor, West Java, MINA — The Indonesian government is formulating a number of strategies, including implementing a regulation immediately on the use of a 20 percent biodiesel mix (B20) to save foreign exchange earnings, Antara News reported, citing a minister.

The government has adopted several programs to save foreign exchange earnings, Industry Minister Airlangga Hartarto told the press, after a limited cabinet meeting held at the Bogor Presidential Palace, on Tuesday.

The meeting, led by President Joko Widodo, discussed several strategies to strengthen the country`s foreign exchange earnings.

“We will implement the regulation on the use of B20, as well as other programs, to make retrenchment through the use of local component,” the minister stated.

The programs, which have been implemented, are considered capable of reducing the balance of payment. The programs include encouraging the use of B20, increasing the use of local components, and optimizing tourism services, he noted.

The other similar program to save foreign exchange earnings includes reviewing the list of imported goods, he added.

The government believed the programs will be able to save billions of US dollars in foreign exchange earnings.

Hartarto predicted that the government will be able to save US$2 billion in foreign exchange earnings by increasing the use of local components. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)