{
    "success": true,
    "data": {
        "id": 1003125,
        "msgid": "duty-on-methanol-lowered-1447893297",
        "date": "1994-11-07 00:00:00",
        "title": "Duty on methanol lowered",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Duty on methanol lowered JAKARTA (JP): The government has lowered the import duty on methanol from 10 percent to five percent. Methanol is used for the production of glue for plywood, from 10 percent to five percent. Decree No. 542\/KMK.01\/1994 of the Minister of Finance states the reduction of the tariff on methanol was effected last Thursday.",
        "content": "<p>Duty on methanol lowered<\/p>\n<p>JAKARTA (JP): The government has lowered the import duty on<br>\nmethanol from 10 percent to five percent. Methanol is used for<br>\nthe production of glue for plywood, from 10 percent to five<br>\npercent.<\/p>\n<p>Decree No. 542\/KMK.01\/1994 of the Minister of Finance states<br>\nthe reduction of the tariff on methanol was effected last<br>\nThursday.<\/p>\n<p>The import duty reduction is aimed mainly at helping maintain<br>\nthe competitiveness of Indonesia's plywood exports, while the<br>\nprice of methanol on the world market has increased to more than<br>\nUS$400 per ton from merely $120 in January, a spokesman for the<br>\nMinistry of Finance said last Friday.<\/p>\n<p>Indonesia needs 450,000 tons of methanol per annum but its<br>\nonly manufacturer, owned by the state oil company Pertamina, is<br>\ncapable of producing only 240,000 tons a year.<\/p>\n<p>PT Kaltim Methanol Industri, an affiliate of the Humpuss<br>\nGroup, controlled by businessman Hutomo (Tommy) Mandala Putra,<br>\nwill set up a US$330 million methanol plant in East Kalimantan<br>\nwith a production capacity of 660,000 tons a year. (riz)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/duty-on-methanol-lowered-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}